ISLAMABAD: Chinese, Pakistani firms signed here an MoU to establish EV charging stations across the country.
Chairman of Senate of Pakistan, Muhammad Sadiq Sanjrani, along with a Pakistani delegation, witnessed the signing ceremony between TGOOD, a leading Chinese company, and the REC Group of Pakistan.
This aimed at promoting environmentally friendly electric vehicles (EVs) in Pakistan, China Economic Net (CEN) reported on Thursday.
Chairman Sanjrani said on the occasion that this collaboration has resulted in a strategic partnership aligned with the sustainable green development initiatives set forth by China during the 3rd Belt and Road Forum.
The partnership covers areas such as hydrogen vehicle technology, hydrogen filling station infrastructure, EV production, battery production and recycling solutions, and EV charging infrastructure development.
Transport is a major contributor to pollution in Pakistan, making a transition to alternative fuels imperative.
However, Pakistan has faced a challenging dilemma, with a lack of charging stations restricting the adoption of alternative fuel vehicles, while limited investment in such infrastructure is primarily due to the scarcity of such vehicles.
The joint venture with REC Group in Pakistan signifies a significant step forward. TGOOD’s commitment to expanding in Pakistan, facilitated by integrators within REC Group, is underpinned by a comprehensive Strategic Partnership Framework Agreement, encompassing full technology transfer.
In addition to EVs, TGOOD will also spearhead the development of hydrogen fueling infrastructure in Pakistan. The joint venture is poised to explore regional export opportunities for the products manufactured in Pakistan.
The joint venture’s primary mission is to tackle the catch-22 situation that has hindered the transition to alternative fuels in Pakistan.
Through strategic investments in EV components, recharging stations, and export-driven growth, the partnership aspires to resolve these challenges and stimulate the development of a sustainable green transportation ecosystem in Pakistan.
