Latest news with #Rs71.10
Business Recorder
25-04-2025
- Automotive
- Business Recorder
HUBCO Green to develop ‘EV charging infrastructure' at Attock Petroleum locations
Attock Petroleum Limited (APL) has signed a collaboration agreement with HUBCO Green (Private) Limited (HGL), a wholly owned subsidiary of Hub Power Holding Limited, to develop and market electric vehicle (EV) charging infrastructure at selected APL locations across Pakistan. APL shared this development in a notice to the Pakistan Stock Exchange (PSX) on Friday. 'We are pleased to inform that Attock Petroleum Limited (APL) has signed a collaboration agreement with HUBCO Green (Private) Limited (HGL), a wholly owned subsidiary of Hub Power Holding Limited. 'Under the agreement, APL & HGL will develop and market electric vehicle (EV) charging infrastructure at selected APL locations across Pakistan. The agreement was signed on April 24, 2025,' the notice read. HUBCO Green inaugurated its first EV charging station at Ocean Mall, Karachi on January 21, 2025, with plans to establish advanced and reliable EV charging infrastructure across the country, including motorways, highways, major cities and destination charging avenues including upscale malls and commercial areas. It later announced collaboration agreement with Pakistan State Oil Company Limited (PSO) in February 2025 for the installation of EV charging infrastructure at PSO locations across the country. To expand local EV production, the government granted licenses to 57 EV manufacturers in February this year, including 55 manufacturers for two and three-wheelers, while two for the assembly of four-wheelers. The government also announced to cut the tariff for EV charging stations by 45%, lowering it from Rs71.10 to Rs39.40, at the start of the 2025 to 'make EVs accessible to the masses'.
Express Tribune
24-02-2025
- Automotive
- Express Tribune
Deal reached for EV infrastructure
In a major step towards strengthening Pakistan's electric vehicle (EV) infrastructure, an agreement has been signed between a Chinese and a Pakistani company for the sale of EV charging piles and setting up charging stations. Both companies – Zhuhai Comking Electric Co Ltd and E-Trade Nexus – said they were committed to supporting Pakistan government's vision of green energy and widespread adoption of environment-friendly EVs. This partnership is expected to accelerate Pakistan's transition to clean and sustainable transportation. Speaking on the occasion, E-Trade Nexus Director Global Business Najamul Ghani highlighted a significant reduction in electricity tariffs for EV charging stations in Pakistan. The tariff has been slashed by approximately 44%, from Rs71.10 to Rs39.70 per unit, making EV charging more affordable for consumers and investors alike. "This initiative aims to promote EV adoption, slash transportation costs and reduce reliance on imported fossil fuels," he said. He explained that the reduced tariff could potentially lower travel costs up to threefold compared to traditional petrol or diesel vehicles, making electric mobility a more viable option for the masses. To facilitate the expansion of EV charging infrastructure, the government has streamlined the approval process for setting up charging stations, allowing for business registration and operations within just 15 days through an online portal. This step is expected to encourage more businesses to invest in EV charging facilities.
