Chinese company Skywell Automobile manufacturer will invest $50 million to launch electric buses in Pakistan this year, Federal Minister for Science and Technology Fawad Chaudhry revealed on Tuesday.
The Minister spoke on a private news channel to the Chinese company that, following above that, in the beginning, the first step Chinese company investment of $50 million will be held in phase one then in the second phase production of electric buses will start.
The minister said that electric buses will go down the way and run on the road at the end of this year. Initially, electric buses will operate in Islamabad and Lahore.
In Islamabad, a signing ceremony of Strategic Alliance signed Agreement between Daewoo Pakistan and Skywell Automobile held last week at Serena Hotel. The ceremony chief guest was Federal Minister.
Electric Vehicles Go Down the Way and Run on the Road at the End of this Year
The partnership will include the collaboration of Skywell Automobiles China and Daewoo Express Pakistan to launch electric buses and other electric vehicles in Pakistan and to develop a technical assistance base in Pakistan.
According to Federal Minister for Science and Technology Fawad Chaudhry, an electrical vehicle’s value chain will be set up in Pakistan. While battery bus services begin soon in Pakistan and the various sectors will immediately be redundant when 5 G service becomes available in the country.
Federal Minister added:
“This will not only going to give a boost to our economy but will also generate massive employment and investment opportunities in the country”.
The arrival of electric vehicles would contribute to the development of an eco-friendly system and will reduce the implications of global warming, the federal minister said.
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