The Hub Power Company Limited (PSX: HUBC) has announced plans to establish a network of electric vehicle (EV) charging stations across Pakistan, as revealed in a statement to the Pakistan stock exchange on Thursday.
The initiative will be spearheaded by a new venture, Hubco Green (Private) Limited, which is currently in the process of incorporation. The company aims to install EV charging infrastructure nationwide, covering motorways, highways, major cities, and destination charging locations.
In addition to its charging network plans, HUBC is advancing its commitment to the local assembly of new energy vehicles. Mega Motor Company (Private) Limited, a subsidiary of HUBC, has recently signed a Supply and Manufacturing Agreement and a Technical License Agreement with BYD Auto Industry Company Limited. These agreements follow a Distribution Agreement signed in June 2024, paving the way for the launch and sale of BYD’s vehicles in Pakistan.
HUBC expressed gratitude to its shareholders, employees, business partners, and other stakeholders for their continued support and confidence in the company’s growth and development initiatives.
