Chinese Firm to Set Up Electric Vehicle Assembly Plant in Punjab

Punjab Industries & Commerce Department and Skywell New Energy Vehicles Group of China Wednesday signed memorandum of understanding (MoU) for a major investment in electric vehicles sector.

As per the agreement, the Chinese group will set up an electric vehicle assembly plant on an area of 75 acres in the Special Economic Zone of Punjab.

Provincial Minister for Industries Chaudhry Shafay Hussain, and the Chinese company’s CEO Biwan Han signed the MoU at a ceremony held at Punjab Small Industries Corporation (PSIC) Office.

The Chinese group has expressed keen interest in investing in the business of electric buses, cars, two-wheelers, three-wheelers and other electric vehicles.

Speaking on the occasion, the minister welcomed the investment in the electric vehicles sector. He said the government would provide all possible support to the Chinese investors to set up electric vehicles plant in Punjab. The Punjab government under the leadership of Chief Minister Maryam Nawaz Sharif is taking prompt measures to promote the EV sector, he added.

He highlighted that the promotion of environmentally friendly transport sector in the province is a priority of the Punjab government. “We are providing all possible facilities to those who invest in e-products, batteries, charging stations and electric vehicles,” he said.

The minister reaffirmed the commitment of Punjab government to promote industrialization along with bringing new investment in the province. He added that setting up new industries in Punjab will create new employment opportunities for the people.

Hussain underscored that foreign investors including China would be given foolproof security in Punjab, adding that domestic and foreign investors are being provided with the best possible security facilities. He said that owing to the favorable environment, new investments are coming rapidly in the province.

CEO Skywell New Energy Vehicles Group said, “Our group will manufacture electric vehicles for export purposes along with providing to the local market.”

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