US investors looking forward to assembling electric vehicles in Pakistan

Speaking on the occasion, the FCCI president emphasized the significance of Faisalabad as a contributor to the nation's gross domestic product (GDP).

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Lidl - Droitwich | PlugShare
An electric car power station at Lidl, Droitwich, United Kingdom.

In yet another major development in Pakistan’s electric vehicle space, a group of American investors has expressed an interest in searching for opportunities to assemble electric vehicles in the country.

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According to The Express Tribune, the US Consul General in Lahore, Catherine Rodriguez, held an online meeting with the Faisalabad Chamber of Commerce and Industry (FCCI) President, Hafiz Ihtasham Javed.

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In the meeting, the US official informed Javed of some American investors’ intent to explore the electric vehicle space in Pakistan.

She acknowledged that the law and order situation had improved considerably in Pakistan and said she would convince American investors to exploit the new and emerging business opportunities.

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While introducing her team, she said she might hold a direct and face-to-face meeting with the Faisalabad-based industrialists dealing with US buyers.

The US Commercial Counsellor for Pakistan, John Coronado, said that the US and Pakistan had deep trading ties, which could be further extended to benefit both countries.

 

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Speaking on the occasion, the FCCI president emphasized the significance of Faisalabad as a contributor to the nation’s gross domestic product (GDP).

He expressed that the city was strategically important for making exports to any state via seaports or through upcountry road links with China and Central Asian countries.

Faisalabad. (Gulf Air)

He also said that cheap and abundant skilled labor was available, making Faisalabad more attractive for new industrialists.

Stressing the need for technology transfer from the US, he said that “it is the best in the world and we can improve the quality of our products in addition to reducing the cost of production.”

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