Pakistan’s electric vehicle industry is on the cusp of a significant breakthrough, thanks to a commitment from Japan’s renowned business tycoon, Malik Saleem. In an exclusive interview with Jang, Malik Saleem expressed his willingness to establish a full-fledged manufacturing factory for electric bikes and buses in Pakistan, provided the government provides a clear commitment and a buy-back guarantee.
For the past decade, the company has been manufacturing electric vehicles, buses, cars, and heavy vehicles in China, which have been successfully sold in several Latin American countries, including Chile and Peru. According to Malik Saleem, if the government assures a buy-back guarantee for 1,000 electric buses on an initial basis or commits to a buy-back model, he can transfer his current factory to Pakistan.
Pakistan’s economy is in dire need of a real manufacturing industry, especially the auto sector, where most factories are limited to assembly only, resulting in minimal job creation and technology transfer. The reliance on assembly has led to heavy import duties and imports, pushing the country to transfer its resources abroad. However, if local manufacturing is initiated, it will not only lead to a significant reduction in the prices of cars and buses but also create thousands of job opportunities.
Malik Saleem stated that his company, along with its Chinese and Japanese partners, has the capability to invest up to $1 billion in Pakistan, but this requires the government’s serious support, policy support, and a buy-back commitment. The electric transport sector is not only an economic opportunity but also an environmental one, as it will help reduce the country’s reliance on imported fuel and decrease urban pollution.
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