ADM Group Chief Executive Officer (CEO) Yasir Bhambhani announced on Thursday that the ADM Group is planning to invest $250 million in Pakistan to manufacture electric vehicles, aiming to provide eco-friendly automobiles to local consumers.

In a meeting with Federal Minister for Industries and Production Rana Tanveer Hussain, Bhambhani stated that the first phase of the project will involve establishing a charging network station, followed by the manufacturing of electric vehicles in the second phase.

He mentioned that the electric vehicles will have a range of 300 kilometers on a single charge.

The minister expressed the government’s readiness to facilitate direct foreign investment in the country, and affirmed that the Ministry of Industries and Production is committed to collaborating closely with all relevant stakeholders to ensure a smooth process.

He emphasized the importance of focusing on green energy, noting that electric vehicles have become a reality.

Rana Tanveer highlighted the benefits of electric vehicles, including their cost-effectiveness compared to traditional vehicles and the fuel savings they offer.