Chinese investors show interest in establishing electric bike plant in Punjab

LAHORE: A prominent delegation of Chinese investors recently met with Chaudhry Shafay Hussain, the Minister for Industries and Commerce, at the Punjab Investment Board’s committee room.

The discussion centred around the potential establishment of an electric bike manufacturing plant in Punjab.

During the meeting, both parties agreed to collaborate in several key areas, including technical education, IT, and the electric vehicle sector.

Chaudhry Shafay Hussain highlighted the government’s commitment to advancing electric vehicles as part of its broader strategy to combat environmental pollution.

He announced that the government plans to distribute 10,000 electric bikes to university and college students, underlining its dedication to promoting green transportation.

Hussain assured the investors that the government would extend all possible support for the establishment of the electric bike plant, noting that Punjab boasts top-tier industrial infrastructure within its various industrial estates.

He also emphasised that investors in special economic zones enjoy unique incentives and abundant investment opportunities.

In addition to promoting electric vehicles, the Punjab government is actively pursuing solar energy initiatives, including the establishment of a solar panel manufacturing facility this year and transitioning industrial estates to solar power.

Hussain called for accelerated economic cooperation between Pakistan and China to maximise these opportunities.

The government is also focusing on enhancing technical education and upgrading the Technical Education and Vocational Training Authority (TEVTA) institutions. Chaudhry Shafay announced that work on this project has already commenced and welcomed Chinese collaboration in this area.

Niko Chan, CEO of the Chinese company, expressed enthusiasm for partnering with local firms in the electric vehicle sector. He revealed plans to not only set up the electric bike plant in Punjab but also to develop charging stations.

The investor group has requested six kanals of land for establishing a research centre.

The meeting was attended by officials from various Chinese companies and representatives of the Punjab Investment Board, signalling a promising step towards strengthened economic ties and technological advancement.

Read next: Turkey plans increased investment, enhanced flight links with Pakistan