Pakistani automobile joint ventures with Chinese automakers BYD and Changan have recently launched several all-electric and plug-in hybrid models of automobiles in Pakistan. Earlier, Honda Atlas Cars Pakistan Limited announced plans to build a hybrid electric vehicles plant in the country. Other major brands like Toyota, Haval, and Hyundai are already offering similar models in the country. It all began with the 2019 electric vehicle policy approved by the government of Prime Minister Imran Khan to incentivize the electrification of the auto industry. Pakistan EV policy goal is to achieve 30% of new cars sales, 50% of new 2-wheeler and 3-wheeler sales and 30% of new truck sales by 2030. By 2040, the target is 90% of all new vehicle sales to be electric. The main incentive is the reduction of sales tax from 17% for internal combustion engine (ICE) vehicles to 1% for all-electric (EV) vehicles.
BYD Launch:
Chinese electric vehicle giant BYD has announced plans to open an EV production plant in Karachi. It will start selling three EV models in Pakistan through a partnership with Mega Motors. Mega Motors is a unit of Pakistan's largest private utility Hub Power Co Ltd (HPWR.PSX), known as Hubco.
"Our entry into the Pakistani market is not just about bringing advanced vehicles to consumers," said Liu Xueliang, BYD's general manager for Asia Pacific, according to
Reuters. "It's about driving a broader vision of environmental responsibility and technological innovation." "We will establish Pakistan's first NEV assembly plant... dedicated to producing BYD's cutting-edge new energy vehicles," said Hubco Chief Executive Kamran Kamal, who described the deal as a "landmark investment".
The BYD factory will be built near Karachi’s Port Qasim area that already houses assembly plants for other automobile companies including Toyota, Suzuki Motor Corp. and Kia Corp.’s local units. It will be completed in the first half of 2026, according to Bloomberg.
Last year, BYD’s total production – comprising battery-only powered cars as well as hybrids – was more than 3 million and surpassed Tesla’s production of 1.84 million cars for a second straight year, according to
CNBC.
A BYD model comparable to Tesla Model Y is $10,000 cheaper and has more features, according to
news reports.
Changan Launch:
Master Changan Motors Limited (MCML), a joint venture between Pakistan's Master Group of Industries and China's Changan International, launched Changan’s electric-first brand, DEEPAL, this month in Karachi, Pakistan. The joint venture unveiled the brand Deepal with 2 models, L07, the pure electric sports luxury sedan and S07 the pure electric premium SUV.
Both Changan models offer 250 HP and 320 Nm of instant torque, going from 0-100 km/hr in just 5.9 seconds. The Ternary Lithium battery by CATL has a capacity of 66.8 kWh and provides an exceptional range of up to 540 km in L07 and 485 km in S07. The cars are designed in Italy in Changan’s R&D center and have won the German RedDot design award in 2023 with its futuristic design, according to
media reports.
Changan has sold 45,000 cars in Pakistan in the last 5 years.
Honda Atlas:
Last month Honda Atlas Cars Pakistan Limited (HACPL) announced its plan to invest
Rs. 5 billion in a cutting-edge hybrid vehicle production facility in Pakistan. This investment will support the local manufacturing and assembly of hybrid electric vehicles (HEVs).
The company recently reported a 324% jump in sales, totaling Rs. 15.97 billion compared to Rs. 3.77 billion in the same period last year. The company reported a gross profit of Rs. 1.01 billion for the first quarter of FY25.
Two and Three Wheelers:
Prior to the BYD and Changan EV launches, Pakistan granted EV manufacturing licenses to 32 local companies under the EV Policy 2019, according to the
Business Recorder newspaper. Metro Electric Bikes, VLEKTRA and Sazgar Engineering Works are among the key names leading the two and three wheeler EV manufacturing in Pakistan.
“Motorcycle buyers have started to inquire about electric bikes, scooty, and scooters options. I believe many have postponed buying a normal two-wheeler with expectations that an electric two-wheel model may soon enter the market that is closer to their need,” said Sabir Sheikh, who is also the Chairman, Association of Pakistan Motorcycle Assemblers (APMA), according to media reports.
Charging Infrastructure:
A number of investors, including ADM Group, Hashoo Group and Hubco are planning to invest in building a nationwide EV charging stations network. The EV policy provides incentives for it by reducing import duty on charging equipment imports to just 1% and lower power tariffs. It also ensures uninterrupted power supply on feeders fir charging stations.
Hubco said it will setup fast-charging stations across major cities, motorways and highways to enhance Pakistan's charging infrastructure, according to Reuters. The EV policy calls for at least one fast DC charging station per 3km by 3km area in all major cities as well as DC fast chargers on all motorways every 15-30 km.
Solar Power Boom:
With rapidly falling solar panel prices, Pakistan is experiencing a
solar power boom in the country. The country imported some 13 gigawatts of solar modules in the first six months of the year, making it the third-largest destination for Chinese exporters, according to
Bloomberg.
Rapid increase in solar power generation complements Pakistan's push to a
clean energy economy and EV adoption. This may encourage some of the charging station operators to go solar with batteries to reduce their cost of power purchases from the grid.
Climate Action:
Pakistan has contributed only 0.28% of the CO2 emissions but it is among the biggest victims of climate change. The US, Europe, India, China and Japan, the world's biggest polluters, must accept responsibility for the catastrophic floods in Pakistan and climate disasters elsewhere. A direct link of the disaster in Pakistan to climate change has been confirmed by a team of 26 scientists affiliated with World Weather Attribution, a research initiative that specializes in rapid studies of extreme events, according to the New York Times.
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| Top 5 Current Polluters. Source: Our World in Data |
Currently, the biggest annual CO2 emitters are China, the US, India and Russia. Pakistan's annual CO2 emissions add up to just 235 million tons. On the other hand, China contributes 11.7 billion tons, the United States 4.5 billion tons, India 2.4 billion tons, Russia 1.6 billion tons and Japan 1.06 billion tons.
The United States has contributed 399 billion tons (25%) of CO2 emissions, the highest cumulative carbon emissions since the start of the Industrial Revolution in the late 18th century. The 28 countries of the European Union (EU28), including the United Kingdom, come in second with 353 billion tons of CO2 (22%), followed by China with 200 billion tons (12.7%).
35 comments:
take CO2 per capita (after removing outliers such as tiniest countries like Qatar) and you get a different picture...Hindu extremists
A very welcome development.
Though the Indian govt had earlier set an ambitious target to "electrify" its automobile industry by 2030 and gives tax sops and subsidies for EV manufacturing and sales, the inadequacy of charging infrastructure, long charging times, range anxiety and high prices of EV batteries have remained the main hurdles in its mass adoption. After an initial surge lasting a few years, growth in sales of EVs here appears to have flattened out in recent months eventhough more models are being introduced by domestic and foreign manufacturers. Sales of electric scooters have had a good growth since they are mostly used for shorter trips (to offices, grocery shops, dropping off kids at school etc..) and can be easily charged at home overnight, but the case of electric cars is another matter as families often take their cars for longer drives during weekends, in which case the lack of charging stations and hours-long charging times could be a deal-breaker.
On the manufacturing side of things, I think Pakistan does have an opportunity to become a manufacturing base for Chinese EV brands in the region since there are restrictions on Chinese FDI in India after the recent border clashes. (With the exception of a couple of Chinese brands like BYD and SAIC-owned MG, India's EV landscape is at present largely dominated by Indian manufacturers with Tata Motors cornering over 60% of the sales of electric cars, and scooter-makers like Ola, Ather, Bajaj and TVS dominating the electric two-wheelers.) But the question remains as to how far Pakistan can capitalize on this opportunity in the midst of its acute economic crisis and become a true "manufacturer" of EVs rather than a mere "assembler" of imported CKD kits from China. In fact, this dependency on CKD kit imports and low levels of parts localisation in Pakistan's auto industry has resulted in a spate of plant shutdowns by its auto assemblers in recent times as they could not open LCs with the banks (due to the country's precarious forex reserves) to import the kits.
As for CO2 emmissions, the only reason why Pakistan does not figure among the top greenhouse gas emitters is due to its lower industrial development. India's contribution of greenhouse gases is 5 times smaller than China's for the same reason. Vehicle emmission norms have been made very stringent in India in recent years and India's auto manufacturers have to comply with BS6-II (largely equivalent to Euro 6) and this has resulted in a jump in vehicle prices here. There has also been an ongoing program to take older, polluting vehicles off the roads with financial incentives for purchase of newer ones. But there are many other industries and coal-fired power plants that continues to be the top contributors of pollution in India.
Anyways, good luck with asking the world's top polluter to accept the responsibility for Pakistan's floods. :-)
The per-capita contribution of greenhouse gases by Hindu extremists is 5 times smaller than Chinese commies due to the Hindu rate of economic growth. ;-)
sorry, Hindu extremists have nothing to do with any of these. Last part was noise from a link that I pasted to another comment :)
Solar projects receive lowest-ever tariff bid
Bid of Rs11.2 per unit marks pivotal shift in renewable energy sector
https://tribune.com.pk/story/2489390/solar-projects-receive-lowest-ever-tariff-bid
KARACHI:
In a landmark development, K-Electric's (KE) 150-megawatt solar energy projects in Balochistan have achieved the country's lowest-ever tariff bid, setting a new industry benchmark and marking a pivotal shift in the renewable energy sector.
A bid of Rs11.2 per unit, revealed during a ceremony, underscores the trust in private sector-led initiatives, particularly in the context of Pakistan's ongoing economic challenges. Earlier, Bloomberg News highlighted KE's endeavours to nearly double Pakistan's solar capacity by adding 640MW of clean energy to its portfolio in the next two years.
It was revealed that the bidding process for those projects began in August and would conclude in September 2024. The portfolio, which includes 200MW of hybrid solar-wind generation, is also a critical component of KE's strategy to reduce reliance on expensive fossil fuels and lower the country's overall import bill.
The 640MW of projects, currently in the pipeline, have been divided into three tranches: 150MW solar projects in Balochistan, a 270MW project in Sindh and a 220MW site-neutral project that will be the first hybrid solar and wind energy venture. These projects are expected to significantly increase the share of renewable energy.
Pakistan has long been plagued by high electricity prices, driven by its dependence on costly fossil fuel imports. With monthly electricity bills having risen 155% since 2021, often surpassing rent costs for many families, the shift towards more affordable and sustainable energy sources is both urgent and necessary.
Currently, solar energy accounts for just 1% of the energy mix, with a total capacity of 630MW. Doubling this capacity could provide much-needed economic relief to consumers and help stabilise the energy sector.
The recent financial bid opening event in Karachi was attended by representatives from both international and local entities, including JCM Power Group and Hecate Global Renewables from North America, and Pakistani companies such as Atlas Power, Hub Power Holding Co and Sapphire Electric Co.
Can ride-hailing, logistics and delivery companies lead an EV revolution in Pakistan? - Business & Finance - Business Recorder
https://www.brecorder.com/news/40292113
TCS Private Limited, one of the largest logistics organizations in Pakistan, initiated a pilot project in December 2023 with 50 electric bikes in collaboration with the start-up ezBike. These bikes are equipped with 2KW batteries and have a range of up to 100 km, capable of carrying a 40 kg delivery box.
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Pakistan is seeing a massive surge in intent and efforts when it comes to adopting electric vehicles (EV), but there are significant challenges – including logistical constraints – on the road ahead, say experts.
Surging fuel prices, record inflation, and an economic crisis in the backdrop of devastating floods and effects of climate change have all pushed consumers towards the ‘greener’ option. However, many still believe that it will take a lot more before EVs become a more common sight in Pakistan.
“EVs (four-wheel) or even electric bikes are mostly bought by the affluent, and these are their second vehicle, rarely used, mostly as a hobby,” said auto dealer Anjum Rizvi who has a showroom in Karachi’s Khalid Bin Waleed area.
“Most people are reluctant to buy EVs. It’s not because they don’t like them. They see it as an ‘experiment’ at the moment and in this time of high inflation, no one wants to experiment with money.”
While Pakistanis may need to wait before seeing EVs ply on the roads, the harm being caused by traditional vehicles will be irreversible.
Yasir Hussain of Climate Action Center – a group that creates awareness for climate change initiatives – said roughly, over 50% of Pakistan’s air pollution in urban areas comes from tailpipes. Reducing pollution due to mobility will be one of the major feats for a sustainable future.
Rizvi said positive user experiences will be the biggest reason behind people embracing EVs at an individual capacity.
“Government can play a role and more importantly, the bulk use of transport, such as ride-hailing and logistics companies, can play a role as they can overcome challenges comparatively easily as compared to individuals,” Rizvi said.
Experience so far
However, the picture in the industry setup tells a different story.
After interviewing at least half a dozen key players in the ride-hailing, delivery and logistics space, there are several hindrances in the adoption of EVs.
Hussain of Climate Action Center said electric motorcycles have been facing challenges in the ride-hailing segment because the passenger weight significantly reduces efficiency – the prime reason for adopting an electric bike.
Rafiq Malik, chief operating officer of Bykea, among the leading players in the space, corroborated this. He also mentioned that extra weight and speed significantly reduce range.
“The first wave of EVs generally isn’t well-suited for a bike-taxi business. Similar feedback comes from Gojek in Indonesia and Ola in India (once you remove the subsidies).”
Bykea conducted a pilot with electric bikes from January to June last year. However, they encountered significant challenges.
In an interview with Business Recorder, Malik stated the first challenge is the high price of electric bikes, which is on average 3-4 times higher than that of an ICE (Internal Combustion Engine) motorcycle.
The company also struggled with battery performance.
“We experienced performance uncertainty and noticed the battery performance deteriorating over time. Initially, we achieved 70 km per charge, which dropped to around 50 km per charge by the third or fourth month,” Malik said.
Another challenge they faced was electric bike maintenance.
“There is no repair ecosystem available, and drivers would have to return the bike to the vendor for minor repairs, leading to significant downtime and revenue loss.”
I'm not sure how well suited electric motorcycles or cars would be in commercial use as e-taxis or delivery platforms as such use cases involve longer runs per day which may entail the inconvenience of multiple, long charging intervals. But for individuals and families, electric two-wheelers (and step-through scooters in particular) are the low-hanging fruit for "electrification" of mobility, particularly so in case of developing economies like Pakistan and India where two-wheelers are all that an average middle class family can afford. People would use electric scooters mostly for their daily short distance commutes to their colleges, workplaces, grocery shops etc, in which case daily over-night charging of the two-wheeler at their residence would be sufficient and practical enough. Like the automatic (or "gearless") ICE scooters, an added advantage of electric scooters is the ease of riding, convenience of under-seat storage, flat footboard and step-through design that makes them suitable for both genders alike. For this reason, electric scooters have proved quite popular with buyers in India and have become a fairly common sight on roads alongside their ICE counterparts, with the established and reputable domestic two-wheeler brands like Bajaj, TVS and Hero (aside from EV startups like Ola and Ather) bringing out models in different price brackets with varying battery capacities and range. In recent times the price difference between electric scooters and their ICE counterparts have also narrowed somewhat with falling battery prices (and some help from government subsidies) that has helped sales.
But a pertinent question in case of Pakistan is how the recent spate of hikes in electricity tariff over there would affect the attraction of such EVs for a middle-class buyer as their lower running costs are their primary USP.
BEIJING, Apr 24 (APP): Pakistan, in its timely joining the global trend, is ramping up cooperation with international EV giants to amplify its own competence.
Last month, Automobile brand Huazi Green Energy, a joint Pakistan-China venture, announced the plan to display the first electric car in Islamabad this month, achieving yet another score in Pakistan’s EV endeavour.
https://www.app.com.pk/global/pakistan-catching-ride-on-global-ev-boom/#google_vignette
In May, Chinese vehicle manufacturing company Huaihai in collaboration with its Pakistani partner announced that it is seeking to expand its existing business by investing $10 million in manufacturing electric vehicles, starting with two-wheeler and four-wheeler vehicles in Punjab.
Among the global players, China’s presence in the international EV market has become too prominent to be neglected. Among the global EV sales, 59% are contributed by China, which is also the world’s biggest EV producer, with 64% of global volume.
In the first half of this year, China’s EV brand BYD witnessed a record-breaking 95.8% increase y-o-y of cumulative sales, snapping global sales champion. Last month, the country rolled the 20 millionth EV vehicle off the assembly line, China Economic Net (CEN) reported on Wednesday.
Pakistan is not the only country that has set its eye on the biggest automaker in the world as international venerable auto brands are trying to snatch a share of China’s EV dividend.
Also last month, German automobile manufacturer Volkswagen invested $700 million in leading Chinese smart EV company XPENG, taking 4.99% of the latter’s shares. They also announced the joint development of two B-class battery electric vehicles (“BEV”) models for sale and collaboration on future EV platforms, software technologies and supply chains.
Following its subsidiary Audi’s move to join hands with China’s SAIC Motor to develop intelligent connected vehicles (ICVs), this was considered by some auto experts as a watershed moment for China’s auto sector to shift from technology import to export, which is expected to shape a new international divison of labor.
A number of Chinese companies such as BAIC, Changan, JAC Motors, Great Wall Motors, MG, FAW, and Chery Automobile have established their presence and even formed joint ventures in Pakistan, driving the EV industry in the country towards intelligence and electrification.
“While there is a long way to go for Pakistan to build the EV infrastructure, cut down EV prices, and produce parts locally, we have a lot to benefit from the technology transfer from global tycoons like China. On my visit to one of the EV manufacturing hubs in China, Yangtze River Delta, I was surprised to see that a new energy vehicle can be produced within four hours, with chips and software from Shanghai, batteries from Changzhou, Jiangsu Province, and integrated die-casting machine from Ningbo, Zhejiang Province. In the complete, highly-efficient supply chain, there are countless models for us to learn from”, a Lahore-based automobile seller said.
"While there is a long way to go for Pakistan to build the EV infrastructure, cut down EV prices, and produce parts locally, we have a lot to benefit from the technology transfer from global tycoons like China.. In the complete, highly-efficient supply chain, there are countless models for us to learn from.."
Chinese automotive industry is in a different league altogether, and it may be difficult for Pakistan to replicate China's scale and manufacturing model for now. I think as an intermediate step it would make sense for Pakistan to learn from India's growing EV manufacturing industry (and automotive manufacturing industry in general) and the endeavours that are being made by Indian auto firms towards in-house product development and parts localisation, as both countries grew from a shared economic base and have faced many of the same challenges and constraints.
For example, India's Tata motors used to make pretty awful cars in the past. But after their acquisition of Jaguar and Land Rover (JLR), Tatas made good use of JLR's design expertise to build better cars for the Indian market and is now India's No:3 car manufacturer behind Maruti Suzuki and Hyundai. Tatas also became the trailblazers in India's EV scene by successfully adapting many of their ICE product portfolio to electric powertrains to make relatively affordable EVs for the masses. Tata's main domestic competitor - Mahindra - started out as a license manufacturer of Willy's Jeep, but now designs its own SUVs, some of which like the "Thar" have become iconic and "aspirational" in India.
There are similar stories in India's two-wheeler industry as well. Bajaj started out as a license manufacturer of Vespa scooters and later Kawasaki motorcycles, TVS began by manufacturing mopeds and Suzuki motorcycles, and Hero motorcorp began by manufacturing Honda motorcycles. Now all of these companies designs their own products and also builds small capacity motorcycles for global firms like KTM, Triumph, BMW and Harley-Davidson. Royal Enfield is another success story where the British classic motorcycle marque that died out in the UK in the '60s and facing liquidation of its antiquated Indian unit was practically revived from its grave by the vision of one man - Siddhartha Lal of Eicher group - who made strategic investments by setting up design labs in UK and Spain. Now Royal Enfield is perhaps the most valuable Indian motorcycle brand and exports its products to Western markets. Or if you want to go by the way of EV startups, there is the story of Ola and Ather - two leading manufacturers of electric scooters in the Indian market.
There is perhaps a whole lot that Pakistan can learn from these Indian examples and experiences as Pakistan too had local companies manufacturing (or "assembling") Japanese cars and motorcycles for decades. But of course, the current state of relations between India and Pakistan makes such cross-border learning and collaboration pretty much impossible.
(And it goes without saying that India in turn has a whole lot to learn from China and its industries too, since the economies and industrial bases of both Asian giants weren't all too different until a few decades ago.)
Car export target to remain unmet if standards ignored, senators say -DAWN, August 24, 2024
https://www.dawn.com/news/1854291/car-export-target-to-remain-unmet-if-standards-ignored-senators-say
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ISLAMABAD: Senators attending a house committee meeting on Friday cautioned that the 7pc export target set for automakers could not be achieved if locally-made vehicles failed to meet international standards.
Senator Saleem Mandviwalla regretted that cars produced in the country were not of international standards, adding that it is impossible to find suitable export markets for these vehicles.
Senator Nyazee stated that no manufacturer should be allowed to produce cars that do not follow the WP-29 regulations, questioning who would be responsible for the lives lost because of such vehicles.
Under the policy, there is 1pc customs duty on parts of EV vehicles compared to 30pc on traditional vehicles.
Besides, the tariff for EV vehicles is around 5-10pc compared to 25-30pc for traditional vehicles. These steps were taken to attract global EV manufacturers. Mr Mandviwalla stressed the need for building an EV-friendly infrastructure and said that in its absence the EV sector would not sustain itself.
The committee was informed that 13 automobile companies were currently operating in the country. These companies have installed a production capacity of 500,000 units annually in more than 40 models with over 100 variants. They contribute 4pc to GDP, pay Rs300bn in taxes, and generate over 2m jobs in the country.
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I do not know exactly what the Senator meant when he remarked that locally-made vehicles in Pakistan do not meet international standards for exports. Is it that Pakistani plants assemble older models that do not meet the new emission and safety standards in international markets?
Also, I do not know the specific reasons why Pakistani subsidiaries/partners of Suzuki, Honda, Toyota, Hyundai and Kia shouldn't be able to export its locally produced cars, while the same companies use their Indian plants as a major export base. In fact, companies like Suzuki have often manufactured cars at their Indian plants purely for exports (eg: 3-door Jimny, which was never launched in Indian market) while some models like 5-door Jimny, Baleno and Fronx are manufactured and exported from their Indian plants alone. Furthermore, Suzuki intends to manufacture their new e-SUV, the eVX, at their Indian plant for exports to international markets, and plans to launch it in the Indian market only at a later date. Perhaps the low levels of localisation in Pakistani plants (compared to India) have made exports of cars assembled from CKD kits unprofitable? Or is it the availability of large manufacturing capacity in neighbouring India that has discouraged these Japanese and Korean companies from purusing exports from Pakistan?
Nevertheless, perhaps Pakistan has a window of opportunity to become a manufacturing and export base for Chinese auto brands (since Chinese FDI is restricted in India) in the region, but it would need to invest in manufacturing and greater parts localisation rather than assembly.
As for the lower tariff and customs duty for electric vehicles, Indian govt gives the same incentives for EVs, but sales are still constrained by other factors - high prices of EV batteries, underdeveloped charging infrastructure, longer charging times, range anxiety and a perception that EVs would have low resale value compared to the ICE counterparts.
Budget 2024-25: Production of solar panels, inverters and batteries becomes cheaper - Must Read - Aaj English TV
https://english.aaj.tv/news/330365159/budget-2024-25-production-of-solar-panels-inverters-and-batteries-becomes-cheaper
According to the finance bill, the government has eliminated all taxes on machinery and equipment used in the manufacturing of lithium-ion batteries, most of these were subjected to taxes ranging from 5% to 20%.
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Pakistan’s energy system strained by surge in solarization, battery tech
https://www.thenews.com.pk/print/1215486-pakistan-s-energy-system-strained-by-surge-in-solarization-battery-tech
ISLAMABAD: The rapid solarization and advancements in battery technology are increasingly challenging Pakistan’s existing energy system.
The influx of over 7,000 megawatts of imported capacity, coupled with some industrialists and bulk consumers installing in-house plants of up to 1.5 megawatts, threatens to disrupt long-term agreements with Independent Power Producers (IPPs).
This situation is exacerbated by mounting frustration among power consumers, who are being burdened with substantial multi-billion-rupee capacity charges on their monthly bills.
The provincial governments, especially Punjab and Sindh’s distribution of solar panels to the public, will further pressurise the system, as they will now be drawing less from the grid and so the burden of capacity charges will increase and ultimately the tariff, which will further take away consumers from the grid power.
“Various bulk consumers have done aggressive solarization, even they installed capacity of up to 1.5 megawatts and have kept the grid at backup,” Chairman Nepra Waseem Mukhtar said while presiding over a public hearing on Wednesday adding, “It’s [solarization] a threat.”
The Nepra chairman said that this 7,000 MW imported solar capacity is not for only rooftops, bulk consumers are also installing their big capacities. He also tasked the CPPA with conducting a study on solar energy usage, mapping and submitting a report to Nepra.
Central Power Purchasing Agency (CPPA) while pleading the case on behalf of Discos reported that electricity consumption in June 2024 was 10 percent lower than the reference period consumption, while two percent less than last year.
Waseem Mukhtar said that the government has launched a study to determine if Pakistan requires additional power generation capacity. He emphasized the need for a logical approach to adding more electricity to the national grid. The study is also evaluating that Commercial Operating Dates (CoDs) for some plants may be postponed, he said, mentioning that the study will determine which plants can be retired early.
Indian reliance on Chinese imports is challenge for U.S. trade strategy - The Washington Post
https://www.washingtonpost.com/world/2024/09/02/india-china-manufacturing-supply-chains/
NEW DELHI — American businesses looking to reduce their reliance on China have increasingly been eyeing India in the past few years as a new manufacturing hub — and as a hedge against potential disruptions in Chinese supply chains caused by rising geopolitical tensions or another pandemic.
But as India has amped up its production of goods like smartphones, solar panels and medicine, the Indian economy itself has become even more dependent on Chinese imports, in particular for the components that go into these products, according to trade figures and economic analysts.
This dynamic serves as a reality check for U.S. policymakers, who have been urgently promoting efforts to diversify supply chains away from Chinese factories and “de-risk” the commercial relationship with China.
“Unless China stops being the third party from where components come in and we just assemble, that de-risking is not going to happen for any country coming in and producing in India,” said Sriparna Pathak, an associate professor at Jindal University focusing on India-China relations.
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To support the production of Indian textiles and garments, another important export industry, India has been ramping up imports of yarn and fabric from China. Even the automobile industry — considered a success story for both domestic and export sales — has been increasing its imports of vehicle parts and accessories from China.
As with electronics, India has made significant strides in producing solar panels but now relies even more on the Chinese solar cells that go in them.
After the United States restricted imports of Chinese solar panel material because of concerns about human rights and labor abuses, Indian exports of solar panels to the American market spiked in 2022, increasing in value by almost 150 percent, according to U.S. government trade figures. The next year saw an even sharper increase.
During that time, however, India sourced between half and all of its solar panel components — such as modules, cells, wafers and solar glass — from China between 2021 and 2023, according to a BloombergNEF report at the end of last year.
Senior Biden administration officials said it is not realistic to think that inputs from China can be excluded at this moment from American supply chains. “We have taken a more practical view that in order to effectively diversify, the first step is to get a foothold in the parts of this supply chain where you can diversify today. And then from there you can grow upstream,” said a senior administration official, speaking on the condition of anonymity to discuss sensitive strategies toward China.
Addressing the significant presence of Chinese components in Indian-made solar panels, the official said: “We recognize we are in the first inning of a long game, but we are at an inflection point in that there is now a clear recognition, not just in the U.S. and India but among friends and allies, that being overly reliant on one source for the clean-energy economy is not sustainable and requires a concerted effort to de-risk. But it’s going to take time.”
Electric vehicles will account for up to half of auto sales by 2030, BYD Pakistan says
https://finance.yahoo.com/news/electric-vehicles-account-half-auto-090125014.html
KARACHI (Reuters) - Up to 50% of all vehicles bought in Pakistan by 2030 will be electrified in some form in line with global targets, BYD Pakistan, a partnership between China's BYD and Pakistani car group Mega Motors, said.
Warren Buffett-backed Chinese electric vehicle giant BYD last month announced its entry into Pakistan, making the South Asian nation of 250 million people one of its newest markets.
The partnership has announced plans to open an assembly plant in early 2026, but will introduce vehicles for sale later this year, after launching three models in August.
"I see conversion to new energy vehicles NEV at up to 50%," Kamran Kamal, BYD's spokesperson in Pakistan, told Reuters in an interview at his office on Thursday. Kamal is also the CEO of Hub Power, which owns Mega Motors.
The target is an ambitious one for Pakistan's auto sector, which has been largely dominated by Japanese automakers Toyota, Honda and Suzuki, with vehicle sales hitting a 15-year low in the fiscal year to June.
Recently South Korea's KIA has begun challenging for market share along with Chinese companies Changan and MG, all of whom offer hybrid vehicles. BYD Pakistan is the first major new energy vehicle entrant in the Pakistani market.
Hybrid electric vehicle sales in Pakistan have more than doubled in the past year. While reaching 30% NEV adoption by 2030 is feasible, achieving 50% may be more challenging due to infrastructure hurdles, said Muhammad Abrar Polani, auto sector analyst at Arif Habib Limited.
Kamal said the challenge of charging infrastructure would be addressed by government plans to incentivise its construction.
Local media reported in August that standards for EV charging stations had been drafted by the power ministry, with the government considering offering them affordable electricity.
Kamal said BYD Pakistan is collaborating with two oil marketing companies to establish a charging infrastructure network and aims to establish 20 to 30 charging stations within the initial phases concurrent with the rollout of its cars.
BYD Pakistan will initially sell fully assembled vehicles, which are subject to higher import charges than vehicles shipped in parts and assembled locally.
"Our main focus is to have locally assembled cars on the roads as soon as possible," said Kamal, citing difficulties in importing and selling fully assembled units under Pakistan's current duty structure.
Kamran said BYD Pakistan is deciding on the size of a new plant, but details about the investment and partnership with power utility HUBCO will be disclosed later.
Beijing urges Chinese EV makers to avoid investments in countries like India and Turkey
https://www.scmp.com/business/china-business/article/3278236/beijing-urges-chinese-ev-makers-avoid-investments-countries-india-and-turkey
Chinese EV makers’ drive to go global hit a snag after Beijing urged them to avoid investing in countries like India and Turkey
Chinese electric-vehicle (EV) makers’ drive to go global hit a snag after Beijing urged them to avoid investing in countries like India and Turkey.
The Ministry of Commerce convened executives from more than a dozen electric car makers in July, under so-called “window guidance”, to discuss the risks of building plants abroad, according to Bloomberg.
Two industry officials with knowledge of the situation confirmed the meeting took place and said the ministry told carmakers to better protect their assets and technology as they ramp up their expansion overseas.
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In mainland China, authorities use window guidance to give verbal or written instructions to companies on government policy. Generally, companies that fail to comply with policy directions delivered via window guidance will not be punished in accordance with the country's rules and laws.
During the meeting, the EV makers were encouraged to focus on knock-down assembly lines - where key components are produced at home before being shipped overseas where they are assembled closer to the consumption markets - rather than setting up supply chains and large-scale facilities outside the mainland.
They were also told not to make any investments in countries like India and Turkey, the sources said.
The commerce ministry did not respond to queries by the Post on Thursday.
The sources said the guidance arose from policymakers' concerns about Beijing's rising tensions with certain countries where Chinese businesses and products could be boycotted by local authorities and consumers. In addition, government officials are worried about the risk of Chinese technology being stolen by foreign counterparts.
"The instructions [by the ministry] are interpreted as a warning to the companies since they are now actively looking to raise manufacturing capacity in markets such as Southeast Asia and some European countries," said Chen Jinzhu, the chief executive of Shanghai Mingliang Auto Service, a consultancy. "It may cause some of the companies to slow down their overseas plant building pace."
Chinese EV makers and vendors in the automotive supply chain are at the global vanguard because they have capitalised on core technologies for batteries, self-driving and in-car entertainment, according to David Xu Daquan, the China president of Bosch, the world's largest automotive supplier.
The mainland is also the world's largest EV market, where sales of pure electric and hybrid cars represented 65 per cent of the global total in the first half of this year, according to the China Passenger Car Association.
However, EV makers from BYD - the world's largest electric car maker - to start-up Hozon New Energy Automobile are running into trade barriers set up by developed economies.
In May, the White House quadrupled tariffs on Chinese-made EVs, which now stand at 100 per cent.
Last month, the European Union said additional duties of 9 to 36.3 per cent would be applied to EVs imported from China, 11 months after it launched an anti-subsidy investigation into battery-powered cars assembled on the mainland.
A number of companies from BYD to Great Wall Motors are aggressively expanding production abroad with plans to build electric cars in or close to consumption markets as a way of avoiding high tariffs.
Planned assembly plant in the country would mark carmaker’s first venture into south Asia as it expands globally
https://www.ft.com/content/bf1e6817-5313-4b6e-8e47-9e2960d30ecc
Chinese electric-car maker BYD’s expected expansion into Pakistan has raised hopes in the country that the Warren Buffett-backed company can help jump-start exports in the automotive manufacturing sector. Pakistan’s biggest private electricity producer Hub Power (Hubco) said last month that its subsidiary Mega Motor was entering a partnership with the Tesla rival to set up the country’s first electric vehicle assembly plant by 2026. BYD’s Pakistan plan would mark the company’s first venture into south Asia after being blocked in India by Prime Minister Narendra Modi’s government, which has restricted Chinese investment. Hubco’s chief executive Kamran Kamal said in an interview with the Financial Times that the ultimate goal was for Pakistan to start exporting vehicles from the plant near Karachi’s Port Qasim. “We have big ambitions to be the leading carmaker in this country by the end of the decade,” said Kamal. “For any industry in Pakistan to be competitive, they should be focused on the export market.” Pakistan’s finance minister Muhammad Aurangzeb said the government was encouraging BYD to export to markets in Africa and south Asia, including Bangladesh and Sri Lanka. Trade between India and Pakistan has been reduced since 2019 after a security crisis between the two countries. “We want that Pakistan becomes an export hub, period,” Aurangzeb said in a separate interview with the FT. “Korean brands are here, the Japanese brands have been here . . . but the reality is we haven’t been exporting.” BYD said details of its Pakistan plans had yet to be formally announced and declined to comment further. The company’s expansion into south Asia comes as it is also establishing factories in Turkey, Hungary, Thailand and Brazil. BYD has also been scouting locations for a new factory in Mexico. The carmaker is expanding its manufacturing footprint beyond China as countries impose increasing tariffs on Chinese exports, including on EVs, solar panels and wind turbines. Tu Le, founder of consultancy Sino Auto Insights, said the aggressive international expansion plans would help BYD export to fast-growing markets despite tariffs in the US and Europe. But he warned that BYD should not expect the same “unfettered growth” the company has enjoyed in China as it learns to manage factories in different countries. “Chinese companies are used to having a lot of control. What they are going to find is that due to labour laws, different work ethics, different cultures, they’re going to have a lot less control than they normally would,” he said. Recommended The Big Read The ambitions of China’s BYD stretch well beyond electric vehicles Hubco is a joint venture partner for a number of Chinese power projects established under the China-Pakistan Economic Corridor, a $60bn infrastructure network that is part of Beijing’s Belt and Road Initiative. The company has no prior experience manufacturing vehicles but it aims to use its extensive power generation network to set up EV charging infrastructure throughout the country of 240mn people, Kamal said. The exact size of the investment and the types of models that will be assembled in the Karachi plant “are being discussed”, he said. Hubco said it expected to sell 100,000 BYD plug-in hybrid and fully electric cars in Pakistan a year by 2030, representing about a quarter of total cars sold in Pakistan, according to the company’s estimates.
BYD’s reported plan for Pakistan plant signals growing cooperation amid CPEC upgrades
By Wang Yi
https://www.globaltimes.cn/page/202409/1320242.shtml
Pakistan's biggest private electricity producer Hub Power (Hubco), a joint venture partner for a number of Chinese power projects established under the CPEC, said that its subsidiary Mega Motor was entering a partnership with the Tesla rival to set up the country's first EV assembly plant by 2026, the Financial Times reported on Sunday.
Pakistan's Federal Minister for Finance and Revenue Muhammad Aurangzeb said the country is encouraging BYD to export to markets in Africa and South Asia, including Bangladesh and Sri Lanka, according to the report. "We want Pakistan to become an export hub," the official was quoted as saying.
As the global EV market continues to grow, BYD's planned facility in Pakistan not only marks a crucial business step for the company to increase its presence in the South Asian market, but also signals the strengthening industrial cooperation between China and Pakistan in the new-energy sector under the CPEC.
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Pakistan's demand for new-energy vehicles (NEVs) is growing, especially against the backdrop of accelerated urbanization and heightened environmental awareness. The prospects of its NEV market are becoming increasingly attractive.
Pakistan targets an EV market share of 30 percent by 2030 and 90 percent by 2040 in total vehicle sales. The country offers lucrative investment opportunities for manufacturers, assemblers and suppliers, according to media reports.
If BYD implements its cooperation plan in Pakistan as reported, it will be well-positioned to tap the potential of this promising market, bolstered by a large young population and a growing middle class. Additionally, the company stands to benefit from Pakistan's ambition to promote green growth and expand exports to other economies across South Asia.
Meanwhile, BYD's entry into Pakistan's EV production sector is expected to greatly advance and strengthen the local EV industry. This move will enhance the automotive supply chain, stimulate growth in related sectors such as battery manufacturing and charging station infrastructure, create jobs and boost exports.
China and Pakistan's efforts to enhance their industrial chain and trade cooperation in new-energy sectors, particularly in EV manufacturing, hold significant importance for the continued development of the CPEC and regional economic integration.
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China and Pakistan have recently agreed to enhance the CPEC by building an upgraded version that includes several corridors: the growth corridor, livelihood-enhancing corridor, innovation corridor, green corridor and open corridor. These initiatives are designed to align with new economic development needs and serve as new growth drivers for both economies.
A key focus of this upgraded CPEC is industrial cooperation, which holds significant potential for both nations. Pakistan's traditional industries are primarily labor- and resource-intensive. By leveraging China's capital and technologies, Pakistan can achieve industrial upgrading and accelerate its economic development. In June, the two countries signed four documents to strengthen industrial cooperation.
Among the above-mentioned corridors, the green corridor is particularly noteworthy due to its alignment with global trends of the green transition and Pakistan's national conditions. New-energy projects under this corridor can address Pakistan's energy demands.
Partnerships with China's leading EV manufacturing industry can enable Pakistan to enhance its manufacturing sector and boost exports. This collaboration has the potential to transform Pakistan's labor and resource advantages into sustainable economic growth.
The author is a reporter with the Global Times.
Competition for producing new energy vehicles (NEVs) has intensified as Sazgar Engineering Works Ltd (SEWL) plans to introduce the completely knocked down (CKD) model before Dec 31, 2025.
https://www.dawn.com/news/1860776
In a stock filing on Monday, SEWL said the board of directors had approved the plan, which includes the expansion of the existing paint shop, construction of new warehousing facilities, installation of a solar system of 4-megawatt and construction, erection, installation of new manufacturing facilities for the local assembly of NEVs subject to the approval of relevant government regulatory authorities.
The board also approved an estimated expansion cost of Rs4.5 billion, excluding land, which will be financed from the internal cash resources.
SEWL’s profit swelled by 697pc to Rs7.94bn in FY24 from Rs995m in FY23. Net sales rose to Rs57.6bn from Rs18bn.
The board also recommended a final cash dividend of Rs12 per share in addition to the interim already paid at Rs8 per share.
Besides Sazgar, Dewan Farooque Motors Ltd (DFML) last week said it had started production of EVs at its assembly plant after receiving approval from the Engineering Development Board (EDB).
China’s electric vehicle leader, BYD, has also announced plans to test the potential of EVs in Pakistan. Master Changan Motors Ltd has also launched its EV vehicles — Deepal L07 sedan and Deepal S07 SUV in Karachi — now available at the company’s 18 dealership network across 12 cities.
Electrification refers to the process of replacing technologies that use fossil fuels (coal, oil, and natural gas) with technologies that use electricity as a source of energy. Depending on the resources used to generate electricity, electrification can potentially reduce carbon dioxide (CO₂) emissions from the transportation, building, and industrial sectors, which account for 65 percent of all US greenhouse gas emissions. Addressing emissions from these sectors is critical to decarbonizing the economy and, ultimately, mitigating the impacts of climate change. This explainer reviews how electrification can reduce emissions; possibilities and potential challenges of electrification in the transportation, building, and industrial sectors; and policy options for encouraging electrification.
https://www.rff.org/publications/explainers/electrification-101/#:~:text=Electrification%20refers%20to%20the%20process,the%20impacts%20of%20climate%20change.
Pakistan Is Only the Beginning of the Cheap Solar Revolution
By Ryan Cooper, managing editor at The American Prospect, and author of the book "How Are You Going to Pay for That?: Smart Answers to the Dumbest Question in Politics."
No need for expensive imported fuel when your energy is coming from the sun.
https://heatmap.news/economy/pakistan-solar
Pakistan imported a whopping 13 gigawatts of solar panels, mostly from China, in just the first half of 2024, mostly for rooftop installations for homes and businesses. That’s a mind-boggling amount of new solar for a country that only had about 50 gigawatts of installed generation capacity in total in 2023.
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Fuel imports are one of the largest expenses for even prosperous countries. For places like Pakistan, they are a punishing economic drain. Paying for vast amounts of imported coal, gas, and oil in scarce foreign currency is hard enough in good times, but it’s disastrous when one’s currency has depreciated by about 40% over two years.
Dirt cheap solar power could ameliorate or solve many of these problems at a stroke. Panels are now so cheap, even Pakistan can afford to import them by the millions — an expense, yes, but a one-time one. And while solar is inherently intermittent, and therefore not a solution to Pakistan’s reliability problems, batteries are also plummeting in price — down about 90% between 2010 and 2023 — and can help balance out supply. Cheaper batteries also mean cheaper EVs, with (as usual) Chinese models coming out at bewilderingly low prices. And because Pakistanis mostly drive motorcycles (often manufactured domestically) over relatively short distances, electrifying the personal vehicle fleet there will be far cheaper than in America or Europe; vastly smaller batteries require vastly simpler charging infrastructure.
If all goes well, this will free up vast amounts of economic capacity for Pakistan to invest in domestic development. Businesses will have stable, reliable power supplies that will justify more investment. Households will be able to upgrade their insulation, install heat pumps, and generally spend more on things other than energy. The government will be able to upgrade legacy transmission lines to accommodate solar production from the remaining hydro and nuclear plants.
Finally, of course, there is the climate benefit. Pakistan is one of the countries most threatened by climate change. Summer heat waves are bad and getting worse, to the point where murderous wet bulb events are increasingly likely. Catastrophic warming-fueled storms in 2022 caused the worst flooding in the country’s history, inundating about a third of Pakistan’s land area, killing nearly 2,000 people and causing billions of dollars in damages.
In short, a path to economic development will be opened. It is by no means guaranteed, but it will be a heck of a lot easier than trying to dig out from under the debt mountain of the collapsing coal-powered system. Look around the developing world and you’ll find there are a great many nations in similar situations.
Pakistan emerged as second-largest market for Chinese photovoltaic products | REVE News of the wind sector in Spain and in the world
https://www.evwind.es/2024/10/02/pakistan-emerged-as-second-largest-market-for-chinese-photovoltaic-products/101434
Pakistan has emerged as a significant new market for Chinese photovoltaic (PV) companies, aligning with its path toward energy transformation.
According to statistics from the China Photovoltaic Industry Association (CPIA), in the first half of 2024, Asia overtook Europe as the largest export destination for PV products and Pakistan has become the second-largest market for module exports after Europe.
During the same period, China exported inverters worth a total of RMB 1.714 billion to Pakistan. In August alone, the total value of inverter exports to Pakistan reached 326 million yuan, showing a year-on-year surge of 429.04%. And shimmering blue panels now sit atop a vast array of factories, households, hospitals and mosques.
The surge in exports of photovoltaics and supporting products reflects the urgency of turning to new energy power generation in Pakistan, China Economic Net reported on Tuesday.
“Electricity prices continue to rise; thus, people are trying to find their own way out,” Abbas a Pakistani trader said at the Investment and Trade Forum for Cooperation between East and West China.
As of June 2023, the installed capacity of solar power in Pakistan stood at 630 megawatts, namely 1.4% of the overall installed power capacity, which has a huge room for improvement.
In terms of natural conditions, according to the World Bank’s Global Solar Atlas data, taking Balochistan with good lighting conditions as an example, the average annual total photovoltaic output power of a 1KW household photovoltaic system can reach 1990kWh (corresponding to approximately 1990h of sunlight), which is approximately 41% and 59% higher than New Delhi, India and Shandong Province, China, respectively; the Global Tilted Irradiance (GTI) can reach 2536.5KWh/square meter, which is approximately 36% and 61% higher than New Delhi, India and Shandong Province, China respectively.
In terms of policies, for the past few years, the Pakistani government has highly supported the development of renewable energy, setting a strategic goal of increasing the share of renewable energy and alternative energy in Pakistan’s electricity market to 20% by 2025 and to 30% by 2030.
The IGCEP2047 released by NEPRA showed that Pakistan’s PV installed capacity will achieve leapfrog growth in the next few years. It is expected that by 2030, the PV installed capacity will reach 12.8GW, and by 2047 it is expected to reach 26.9GW. According to calculations, in order to achieve the 2030/2047 goals, the average annual new PV installed capacity needs to reach 1.65/1.07GW respectively.
Businesses in Pakistan are racing to cover their factory rooftops with reasonably priced Chinese solar panels. “Every bit of space I have, even if it’s a few feet, I want it covered in solar panels,” said Khawaja Masood Akhtar, chief executive of Forward Sports, whose factory is one of the world’s largest makers of footballs. His company had already doubled the level of solar in its energy mix to 50% over the past two years. Akhtar is now ploughing a chunk of last year’s profits into importing another haul of panels from China to lift the share of solar supply to his operations to 80% by next April.
Pakistan Aims to Slash Power Prices for EV Charging Stations
https://finance.yahoo.com/news/pakistan-aims-slash-power-prices-110800128.html
(Bloomberg) -- Pakistan is looking to stimulate demand for electric vehicles by reducing power prices at charging stations, as the country attempts to kickstart the decarbonization of its transport sector.
The South Asian nation will create demand “by bringing down drastically the prices for new sectors including EVs,” Power Minister Awais Leghari said in an interview. The government is discussing a pricing structure and the incentive would apply to all charging and battery swapping stations for small cars, two-wheelers and three-wheelers, he added.
More than half a dozen auto companies, led by Chinese brands, have launched EV models in Pakistan this year. Chinese EV maker BYD’s local partner Hub signed an agreement with the country’s largest fuel retailer, Pakistan State Oil, this month to jointly establish an EV charging network across the nation.
Meanwhile, the country has seen a drop in electricity demand while prices have soared and the government has had to secure loans from the International Monetary Fund.
As part of the $7 billion loan requirements, the government is working on a flurry of reforms to restore the energy sector’s viability. The nation is in talks to revise purchase contracts with local power companies and reprofiling debt with Chinese lenders.
Prime Minister Shehbaz Sharif’s administration also wants to move away from the existing model of the government being the sole buyer of electricity, and create a wider market, Leghari said.
The independent market operator system will be functional by March and broader trade is expected to pick up within a year, he said.
The hidden solar revolution that stumped experts – DW – 11/22/2024
https://youtu.be/LT5UdLGy8fM
https://www.dw.com/en/deep-dive-the-hidden-solar-revolution-that-stumped-experts/audio-70856809
A little while back, energy analysts noticed something weird in the data they were combing through.
Pakistan’s national electricity grid data that is. There seemed to be a huge drop in demand for electricity. A drop of 10 percent since 2022. For a rapidly growing country of 250 million people, where the economy has also grown by 2 percent in the past two years, that just didn’t seem right.
Dave Jones: You just wouldn't expect that of an emerging country.
Dave Jones is one such energy analyst who was pretty puzzled by this trend.
Dave Jones: I work at a research organization called EMBER and I track the global electricity transition, heading up our global insights team and I'm based near London in the UK.
Dave and his team realized that just looking at Pakistan’s national grid data wasn’t going to give them all the answers. Because the electricity was coming from somewhere else.
It was coming from rooftops. Rooftops like Shafqat’s. And that kind of solar electricity generation wasn’t being captured in national statistics. It wasn’t really being recorded anywhere.
Dave Jones: And we heard stories about a lot of solar being deployed. So that's when we thought, right, there's probably a hole in the solar data here.
So, first things first, when you’ve got a hunch it could be solar, but there aren’t many hard datasets around, head to Google Earth to see for yourself.
Dave Jones: Oh my God, I had a lot of fun going through Google Earth! It was really hypnotizing just floating around and being able to see all of these solar panels from the satellite images that they have. And it's not on one or two houses in certain areas, like whichever urban area you went to, whether it was a house or block of flats or whether it was a factory or government building, you could see those solar panels on the image everywhere.
I had a look too, and Dave’s right, float over Islamabad Larkana, Lahore... and you’ll see the unmistakable little checkered grids atop homes, businesses, buildings big and small, left, right and center.
Dave Jones: It was unbelievable. Just the amount of solar panels on so many buildings spread throughout the whole of the country.
But how to find out just how much solar had made its way to Pakistan?
Dave Jones: Tracking how solar is developing and being deployed in different parts of the world is extraordinarily hard. A lot of the government stats are really delayed or even non-existent.
The renewable shift is happening so rapidly and, sometimes, randomly, most governments can’t track how much power is coming from where quickly enough to crunch official statistics.
There is one country with a very useful, up-to-date dataset though.
And that is China. The world’s number one manufacturer of solar PV modules.
Dave Jones: We also track the Chinese export agency data, which tags the solar panel exports for every country in the world up to the latest month. So really up to date data for over 100 countries across the world, and specifically in the case of Pakistan, it revealed that Pakistan was the sixth biggest installer of solar panels across the world. Which is quite a surprise!
The sixth biggest installer of solar panels in the world in 2024. That’s behind much bigger, much richer economies like China, the US, Germany, India and Brazil. And, obviously, ahead of nearly 190 other countries. That is huge news for Pakistan.
And the reason that can even happen of course is because of the incredible drop in the price of solar technology.
Dave Jones: It's come to that point now that for daytime electricity, it is a no brainer for people in Pakistan to go out there and to be doing this on the scale that they're doing it.
The price of solar PV modules has plummeted by 90% in the last 15 years alone.
Pakistan’s largest independent power producer expands into lithium mining, battery manufacturing
https://www.arabnews.com/node/2577791/pakistan
Hub Power Company’s subsidiary signed a collaboration agreement with Chinese EV giant BYD this year
Its lithium exploration is expected to further boost the manufacturing potential of Pakistan’s auto industry
ISLAMABAD: Pakistan’s largest independent power producer is set to enter lithium mining, battery manufacturing and electric vehicle (EV) production under Pakistan’s Special Investment Facilitation Council (SIFC), according to state media on Saturday.
Established in 1991, Hub Power Company (Hubco) has an installed generation capacity exceeding 3,500 megawatts and plans to diversify in other areas.
The planned initiatives, facilitated by the SIFC, a hybrid civil-military body established last year to assist foreign investors, aim to meet the country’s growing demand for batteries and electric vehicles.
A lithium exploration and battery production project is expected to reach completion in 12 to 18 months, meeting the rising demand for rechargeable batteries used in mobile phones, laptops and automobiles.
“Hub Power Company Limited’s exploration of lithium in Pakistan will further increase the manufacturing potential in the country’s auto industry,” Radio Pakistan reported.
“Work on establishing a manufacturing plant to produce electric vehicles in Pakistan is already underway, which will manufacture fifty thousand electric vehicles annually,” it added.
Earlier this year in June, Hubco’s subsidiary Mega Motor Company signed a collaboration agreement with Chinese EV giant BYD Auto Industry to assemble EVs in Pakistan.
Plans for the EV plant, with a projected annual production of 50,000 vehicles, include 30 to 40 percent allocated for export to markets in Australia and Africa.
HUBCO operates a diverse portfolio of power plants, including oil-fired, coal-based and hydropower facilities, and is also involved in coal mining.
Its new initiatives are expected to strengthen its market position, create employment opportunities and boost domestic capacity for battery production for electronic devices.
Pakistan rolling out a green carpet for global EV makers - Asia Times
https://asiatimes.com/2024/12/pakistan-rolling-out-a-green-carpet-for-global-ev-makers/
Pakistan’s New Energy Vehicle (NEV) policy targets 30% electric vehicle (EV) adoption for new vehicles by the end of 2030 and envisions a gradual transition to a zero-emission road fleet by 2060, positioning itself as an emerging player in the global EV market.
In January, China’s BYD partnered with Habibullah Khan to enter Pakistan’s market. Khan’s holding company, Mega Conglomerate, owns Hub Power Company, one of the largest independent power producers (IPPs) in the country. The announcement said the BYD vehicles would be imported rather than produced domestically.
An EV boomlet has followed. Pakistan’s Nishat Group announced its automobile division would debut an EV with South Korea’s Hyundai, while another private enterprise issued a statement committing a US$250 million investment in Pakistan’s EV market.
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While US and UK EV makers face increasingly difficult situations in their home countries, local partnerships with Pakistan-based companies could make strategic sense.
“We’re offering a range of incentives, including tax breaks, subsidies, and investment in infrastructure development,” said Minister Leghari.
“We’re also establishing a one-stop shop for investors, providing them with all the necessary information and support to set up their businesses in Pakistan. Our goal is to create a level playing field for all investors, regardless of their country of origin,” he said.
While EV demand is stalling in some Western countries, it’s growing robustly in Pakistan. And Pakistan’s geographic location connects with South Asia, Central Asia and the Middle East, providing a gateway not just to Pakistan but to many other countries just starting to adopt EVs.
“Our goal is to create a competitive and business-friendly environment that encourages global automakers to set up their manufacturing facilities in Pakistan and export to regional markets,” Leghari said.
To promote EV manufacturing investment, the government is providing NEV-specific technology zones at reduced cost space, leasing options and green loans. Other financial incentives will include a 1% customs duty on NEV parts and 10% on complete NEV imports until 2027, along with sales tax exemptions for locally manufactured components.
Other incentives include a reduced goods and services tax rate of 1% for EVs, low electricity tariffs and an import duty of only 1% for charging equipment.
Leghari says his ministry is exploring more incentives, such as offering lower financing rates from the state bank to attract global automakers facing challenges in their home markets.
While the prospects for Pakistan’s EV market are promising, there are still several challenges and risks. Like elsewhere, one major hurdle is the lack of charging stations, which obviously is crucial for the widespread EV adoption.
Leghari said the government is promoting public-private partnerships to invest in the development of charging infrastructure. The ministry is also working on standardizing EV charging stations and providing incentives for their installation.
China’s ADM Group announces $250 million investment to set up EV manufacturing plant in Pakistan
https://www.arabnews.com/node/2587338/pakistan
ISLAMABAD: China’s ADM Group will invest $250 million to set up an electric vehicle manufacturing plant in Pakistan, state media reported on Wednesday, as Islamabad seeks for Beijing to collaborate in setting up industrial zones to manufacture electronic cars.
The government of Pakistan approved an ambitious National Electric Vehicles Policy (NEVP) in 2019 with the goal of electric vehicles comprising 30 percent of all passenger vehicle and heavy-duty truck sales by 2030, and an even more ambitious target of 90 percent by 2040. For two- and three-wheelers, as well as buses, the policy set a goal of achieving 50 percent of new sales by 2030 and 90 percent by 2040.
“Chinese Company ADM Group has announced an investment of two hundred and fifty million dollars to set up an EV manufacturing plant in Pakistan,” Radio Pakistan reported, saying the initiative was part of efforts by the Special Investment Facilitation Council set up last year to attract foreign investment.
“Transition to EVs is expected to cut fuel import costs, saving billions of dollars.”
Last year, ADM Group announced an investment of $350 million in Pakistan’s EV sector, saying it would establish more than 3,000 electric vehicle charging stations across the South Asian country.
Earlier this month, Pakistan said it would cut the power tariff for operators of electric vehicle charging stations by 45 percent as part of the ongoing reform of the energy sector designed to boost demand. The government is also planning to introduce financing schemes for e-bikes and the conversion of two- and three-wheeled petrol vehicles.
The cabinet on Jan. 15 approved a reduced tariff of 39.70 rupees ($0.14) per unit, down from 71.10 rupees previously, which will be in place within a month. The government expects an internal rate of return of more than 20 percent for investors in the sector.
According to a report submitted to the government by power ministry adviser Ammar Habib Khan and reported by Reuters, there are currently more than 30 million two- and three-wheeled vehicles in Pakistan, which consume more than $5 billion worth of petroleum annually.
The ministry plans to convert 1 million two-wheelers to electric bikes in a first phase, at an estimated net cost of 40,000 rupees per bike, according to the report, saving around $165 million in fuel import costs annually.
BYD Pakistan, a partnership between China’s BYD and Pakistani car group Mega Motors, told Reuters in September that up to 50 percent of all vehicles bought in Pakistan by 2030 will be electrified in some form in line with global targets.
Pakistan seeks Swedish green fund assistance
https://tribune.com.pk/story/2524076/pakistan-seeks-swedish-green-fund-assistance
Federal Minister for Power Awais Ahmed Khan Leghari has invited Sweden Green Fund to assist in conversion of Pakistan's small vehicles into electric technology by providing technical and financial assistance, which will support Pakistan's recent record reduction in tariffs for electric vehicle (EV) charging stations.
The minister put forward the proposal in a meeting with Swedish Ambassador Alexandra Berg Von Linde on Thursday.
Elaborating on the proposal for the conversion of existing fossil fuel vehicles, especially motorcycles, Leghari said that currently there were over 30 million motorcycles in Pakistan and people falling in that income group had a very good record of retiring loans.
He suggested that the Swedish and EU green fund could consider providing interest-free loans through Pakistani banks, which had put in place a very robust system. Highlighting the current energy mix and the importance of renewable energy, the power minister said that last year 55% of the overall electricity generation in Pakistan came from renewable energy.
"Pakistan is fully committed to promoting renewable energy and in this regard the Power Division is carefully chalking out policies to provide affordable and sustainable electricity to consumers," he stressed. Leghari pointed out that Pakistan was reviewing the Indicative Generation Capacity Expansion Plan (IGCEP) to ensure the integration of energy into the national grid on a least-cost basis in order to optimise the country's energy resources for maximum economic impact.
The ambassador said "seventy five years of diplomatic relations between Pakistan and Sweden were celebrated last year. This reflects the strength and depth of our bilateral ties."
She highlighted that Swedish firms operating in Pakistan were keen on securing green energy supply and Sweden was ready to share expertise and provide technological support. The textile sector of Pakistan, being a primary exporter to the European Union, was focusing on growing its global competitiveness in terms of renewable and sustainable energy, the ambassador said. She underscored Sweden's leadership in renewable energy as it produced 70% of energy from renewable resources, showcasing how economic development and green energy could coexist seamlessly.
Yadea Pakistan targets 20% EV market share by 2025
https://www.thenews.com.pk/print/1275355-yadea-pakistan-targets-20pc-ev-market-share-by-2025
LAHORE: Yadea, the world’s largest producer of electric two-wheelers, unveiled four innovative electric vehicle (EV) models on Wednesday, including the GT 30, as part of its ambitious plan to capture 20 per cent of the country’s EV market by 2025.
Speaking at the launch event, Managing Director of Yadea Pakistan Muhammad Salman highlighted the country’s potential for substantial growth in the EV sector. He attributed this to rising environmental awareness, escalating fuel prices and supportive government initiatives promoting green mobility. Industry projections indicate that the country’s EV market could grow by over 80 per cent by the end of next year, with two-wheelers leading the charge due to their affordability and practicality for urban commuting.
Wave Tech to Establish Pakistan's First Lithium Battery Manufacturing Plant
https://propakistani.pk/2025/01/28/wave-tech-to-establish-pakistans-first-lithium-battery-manufacturing-plant/
Wave Tech has announced its plan to set up Pakistan’s first-ever lithium battery manufacturing plant at the Malir Industrial Park (MIP) in Karachi, with a substantial Foreign Direct Investment (FDI) of $200 million.
The construction of this state-of-the-art facility is set to commence in December 2025, and battery production is expected to start by mid-2026.
This groundbreaking initiative aims to phase out oxide batteries in Pakistan, contributing to the country’s transition towards modern and sustainable energy solutions.
The Malir Industrial Park (MIP), a flagship project of the Pakistan Economic Zones Development and Management Company (PEZDMC), is at the forefront of fostering industrial growth in Karachi.
Envisioned as a world-class industrial zone, MIP is designed to boost manufacturing and exports while generating significant employment opportunities. Its strategic location in Malir ensures seamless connectivity to key infrastructure, including the Karachi Port, Port Qasim, and major highways, making it an ideal destination for investors and industries.
Pakistan’s solar revolution rewriting energy landscape; 22 GW of solar panels imported in 18 months
https://www.app.com.pk/national/pakistans-solar-revolution-rewriting-energy-landscape-22-gw-of-solar-panels-imported-in-18-months/
ISLAMABAD, Jan 30 (APP):Pakistan’s solar revolution is rewriting the energy landscape as communities and businesses take control of their power supply. With 22 GW of solar panels imported in just 18 months, the country is undergoing a mass shift towards decentralized solar solutions.
This was discussed at the Great Solar Rush Conference 2025, hosted by Renewables First and the Pakistan Solar Association on Thursday, said a press release.
In her opening remarks, Senator Sherry Rehman emphasized the urgency of policy alignment with this people-led transformation, stating, “Pakistan has emerged as a market leader in South Asia for solar adoption. We should not be disabling this revolution; we should be enabling it.” She warned that failure to integrate solar into national planning would stall Pakistan’s progress on energy security and economic stability.
Zeeshan Ashfaq, CEO of Renewables First, highlighted the economic realities driving this transition. “Millions of people are rushing towards installing solar PV panels—not because of climate change but because economics make perfect sense.”
Ali Majid, General Manager of Longi, proposed that public sector projects should be mandated to use ‘Made in Pakistan’ panels to attract international investment in local assembly plants.
Waqas Moosa, Chairman of the Pakistan Solar Association, reinforced that Pakistan’s solar adoption rate is one of the highest globally.
Syed Faizan Ali Shah, Member of the Prime Minister’s Solarization Committee, revealed that Pakistan’s daytime electricity demand has fallen by 10 TWh annually due to the solar surge, creating imbalances for grid operators.
Dr. Fiaz Chaudhary, Chairman of NTDC, said to address the operational challenges, Pakistan’s grid must urgently integrate smart metering and distributed energy controls.
Umer Farooq of LUMS Energy Institute emphasized that Pakistan’s energy planning must shift from a top-down approach to decentralized, smart-grid solutions to balance supply and demand efficiently.
As solar becomes a dominant energy source, market liberalization through the Competitive Trading Bilateral Contract Market (CTBCM) is essential.
Salman Amin, a Member of the Competition Commission of Pakistan, stated, “A competitive electricity market will lead to more efficient resource allocation, increased innovation, better service quality, and stakeholder adoption of cleaner, cost-effective technologies”.
Industry representatives present at the event stressed the need for lowering wheel charges in the CTBCM model to promote market participation.
While commenting on the monopolistic nature of the power sector Usama Mela, Member of the National Assembly and Member of the Energy & Economy Forum, commented that as long as independent power producers are subject to guaranteed returns, they do not represent competitive businesses.
He agreed that greater competition in the power sector is the sensible way forward. However, it must be considered within the larger context of grid issues and capacity payments.
Member of National Assembly Dr. Nafisa Shah emphasized that there is a need to gradually open up the power sector for competitive trade under the CTBCM model while also considering the past contracts and decisions that are clogging the system.
Sonia Dunlop, CEO of the Global Solar Council, delivered the closing remarks, highlighting Pakistan’s remarkable solar growth on the global stage. “Pakistan was the market that surprised so many all over the world,” she stated, noting that Pakistan is contributing significantly to the 600 GW of solar deployed worldwide in 2023.
China pledges $340mn to Pakistan's EV sector - Investment Monitor
https://www.investmentmonitor.ai/news/china-pledges-340mn-to-pakistans-ev-sector/
A group of Chinese firms has pledged to invest $340mn in Pakistan’s electric vehicle (EV) sector to expand their manufacturing plants and charging stations, according to local news outlets. The investment was announced at a press briefing inaugurating a joint project between Malik Group and China’s ADEN Group.
“If the company manufactures EVs in Pakistan, the Sindh government will purchase over 20% of the vehicles produced at the Karachi plant,” Sindh province’s Energy Minister Syed Nasir Hussain Shah.
Malik Group chairperson Malik Khuda Bakhsh said 30 charging plants are set to be delivered from China in the next ten days. The project seems to be moving fast as Bakhsh added that Pakistan aimed to “have the necessary infrastructure operation by the end of this year.”
ADEN Group, which has its global headquarters in Singapore, is expected to invest $90mn for 3,000 charging stations and $240mn for an EV production facility.
“By December, EV production will begin, with an annual output target of 72,000 units,” ADEN Group CEO Yasser Bhambani said. “We also plan to export vehicles to the Middle East, Sri Lanka and Bangladesh.”
Recently, Pakistan experienced some positive FDI growth. In August 2024, data from the State Bank of Pakistan showed there had been a monthly rise in FDI compared to 2023. It received $136.3mn in net FDI in July 2024, marking a 64% increase compared to July 2023.
As US-China trade war escalates, could Pakistan be Beijing's EV loophole? - CSMonitor.com
https://www.csmonitor.com/World/Asia-South-Central/2025/0214/China-EV-boom-Pakistan-trade
Amid the ornately painted trucks bellowing smoke and the green and yellow tuk-tuks, the Chinese-made Haval Hybrid Electric Vehicle has become a ubiquitous sight on the streets of Islamabad.
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Some are looking to neighboring Pakistan, a country of 240 million which has so far welcomed Chinese automakers, to buoy sales – and possibly bypass (US) tariffs. In recent months, several Chinese automakers have either doubled down on their Pakistan projects or made their first foray into the market.
As EVs become an increasingly important geopolitical battleground, former Pakistan finance minister Miftah Ismail says that, at least in the short-term, Pakistan could serve as a sort of pressure release valve for Beijing. But he predicts the West will eventually catch up.
“The West will say that EV components have to be made in certain countries, or that 70% of the value addition has to be done in the country that exports,” he says. “It's a cat and mouse game. The West will find other ways of placing restrictions on the Chinese.
An alliance on the rocks
In October, Chinese battery giant Build Your Dreams (BYD) formally entered the Pakistani market with two electric vehicles, partnering with the country’s largest private electricity producer to facilitate the expansion. The move came after the U.S. and Canada both decided to impose a 100% tariff on Chinese electric vehicle imports, and the European Commission voted to raise its own tariffs by 35%.
Its expansion represents a boost to the business relationship between China and Pakistan at a time when both seem to be running out of friends – and when their own alliance has grown fraught.
Though China has long considered Pakistan a key part of its ambitious Belt and Road Initiative, a series of recent attacks on Chinese nationals working in Pakistan has injected the relationship with tension. After an explosion at Karachi’s Jinnah International Airport in October claimed the lives of two Chinese citizens, Chinese Ambassador Jiang Zaidong called the attacks “unacceptable.”
Still, there is a sense that neither side can afford to downgrade their relationship.
Pakistan has fraught relations with all three of its other neighbors, while China has been accused of an increasingly hostile approach towards foreign businesses, driving down foreign direct investment.
“It’s an important and close partnership, albeit one that has stumbled in recent months,” says Michael Kugelman, who directs the Wilson Center’s South Asia Institute. “In that regard, this EV plan could be not just an economic win, but also a confidence building measure.”
Economic win for who?
For China, Pakistan could be the key to tapping into the U.S. market, says Usman Qadir, senior research economist at the Pakistan Institute of Development Economics.
“If they are able to assemble their vehicles in Pakistan or a third country, then they can bypass tariffs and get into the market with their lower prices,” he says.
Pakistanis could benefit, too.
BYD and its local partner announced plans to build an assembly plant in Karachi by early 2026. They estimate that as many as half of the vehicles sold in Pakistan by 2030 will be electrified – by which time BYD hopes that its vehicles will make up a quarter of all sales.
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So far, the Chinese EVs launched in Pakistan have largely targeted the luxury market.
But whatever their long-term motive, it is clear that Chinese EV makers are having an impact; Japanese automakers, which have historically dominated the Pakistani market, have begun slashing their prices out of concern that they might lose ground.
World Bank set to approve $1bn loan for Dasu project expansion
https://www.geo.tv/latest/588799-world-bank-set-to-approve-1bn-loan-for-dasu-project-expansion
Official reveals cost of phase I shot up by 190.1% to Rs1,700bn.
Rise attributed to various factors such including in land acquisition.
After erection of stage II, Dasu project would generate 4,320 MWs.
The World Bank (WB) is set to issue a fresh $1 billion loan for the first phase of the Dasu hydropower project, following the approval of a revised PC-1 with updated completion timelines, The News reported on Monday.
A senior official of the Economic Affairs Division (EAD) revealed that cost of the first stage of the project has shot up by 190.1% to Rs1,700 billion from Rs586 billion.
The increase in the cost is attributed mainly to a delay in land acquisition, security concerns and an increase of US dollar value by 178%.
“The project of stage I would generate 2,160 MWs. However, after erecting stage II of the project, it would generate 4,320 MWs. Dasu Hydropower Project is a run-river project on the Indus River located seven kilometres upstream of Dasu Town, District Kohistan (Upper), Khyber Pakhtunkhwa.
"The site is 74km downstream of the proposed Diamer Bhasha Dam site and 345km from Islamabad. The project will generate 4,320 MWs (12 Units @ 360 MW each) hydroelectric power with annual energy of 21,445 GWh and will be developed in two stages (Stage I and II).
"Stage I will generate 2,160 MW (06 Units @ 360MW each) with annual energy of 12,222 GWh. Stage I will be completed in five years. The WB has already given the loan of $588 million and also extended the guarantee leverage for generating $460 million from the international market.”
However, under the new financing for the project, out of $1 billion, $800 million loan is of International Development Association (IDA) and $200 million will be extended under the International Bank for Reconstruction and Development (IBRD).
Out of the IDA loan, Pakistan will attain $435 million at zero interest rate, $365 million at 5.83% interest rate, and get $200 million under IBRD at 6.13% interest rate.
"We have prepared the revised PC-1 of the project at the cost of Rs1,700 billion and will send it within a couple of days to the Planning Commission for its approval. After that, Water and Power Development Authority (Wapda) and WB will formally sign the $1 billion (loan)," the Ministry of Water Resources confirmed.
The land acquisition for the dam project was to be completed by 2014, but the process finished in 2021-22. Another reason for the escalating cost is the appreciation of US dollar by 178% to Rs278 from Rs100.
"The project was earlier scheduled to get completed by 2023-24 which would now be completed by 2027-28. The Economic Affairs Division has played a pivotal role in diverting the bank’s loan to the project of paramount importance. The WB has already extended $1 billion loan to Pakistan in other heads, but it was not being spent. This is why the loan has been re-purposed and diverted to the Dasu Dam with the approval of the executive board of the bank," added the ministry.
Pakistan Motorcycles - Facts & Data 2025 | MotorCyclesData
https://www.motorcyclesdata.com/2025/02/01/pakistan-motorcycles/
In 2024, although a bad start of the year, then recovered in the second half, 2-wheeler sales have been 1.3 million (+18.4%) but half a million far from the record.
The just born EVs segment is fast growing, reaching 46.364 sales (+123.4%) with new local start up joined by Yadeaand other chinese manufacturers.
Looking at the performance among the top manufacturers, the leader Honda reports sales up 15.5%, ahead of United Auto (+29.3%), Suzuki (+17.3%) and Road Prince (+13%).
VEON’s Jazz to Deploy 1,000 Solar Sites across Pakistan in collaboration with Huawei
https://www.stocktitan.net/news/VEON/veon-s-jazz-to-deploy-1-000-solar-sites-across-pakistan-in-omfnuh98lja2.html
VEON (Nasdaq: VEON) announced that its Pakistani digital operator Jazz has partnered with Huawei to implement solar power across 1,000 sites in Pakistan. The project, utilizing Huawei's iSolar technology, will be completed in the coming months of 2025.
The initiative aims to achieve up to 96% energy cost reduction at implemented sites, supporting Jazz's goal of reaching net-zero carbon emissions by 2050. The solar deployment will enable reliable connectivity powered by renewable energy while demonstrating environmental responsibility in Pakistan's telecom sector.
The project is designed to serve as a scalable model for future expansion, establishing a replicable framework for sustainable telecom infrastructure development.
VEON's strategic partnership with Huawei to deploy solar power across 1,000 Jazz sites in Pakistan represents a significant operational efficiency initiative with measurable financial benefits. The projected 96% energy cost reduction at these sites is substantial in the telecom sector, where energy typically constitutes 20-30% of network operating expenses.
This initiative addresses two critical challenges for telecom operators in emerging markets: rising energy costs and unreliable power grids. By reducing dependency on traditional electricity sources, VEON not only cuts operational expenses but also potentially improves network reliability in areas with unstable power infrastructure—a competitive advantage in customer experience.
The rapid implementation timeline ("within coming months") suggests accelerated financial benefits, though the article doesn't quantify absolute cost savings. Given the scale of 1,000 sites, the impact on Jazz's Pakistan operations should be material, though investors should contextualize this within VEON's broader global footprint.
Beyond immediate cost savings, this project establishes a replicable framework that could be extended to VEON's other markets, potentially multiplying the financial benefits across the company's operations. The partnership with Huawei leverages industry-leading solar technology, positioning VEON at the forefront of operational efficiency in emerging markets.
VEON's solar deployment initiative represents a substantive step toward decarbonizing telecom infrastructure in Pakistan. With 1,000 sites transitioning to solar power, this project demonstrates meaningful scale rather than mere tokenism in sustainability efforts. The telecom sector is increasingly scrutinized for its energy consumption; network infrastructure typically operates 24/7 and traditionally relies heavily on diesel generators in regions with unreliable grid power.
The partnership with Huawei brings technical credibility through their iSolar technology, which has been deployed globally. The dual benefit of 96% energy cost reduction alongside carbon footprint reduction creates the ideal alignment between financial and environmental objectives that drives successful sustainability initiatives.
This project supports VEON's stated commitment to net-zero carbon by 2050, showing concrete action behind the target. For investors with ESG considerations, this demonstrates VEON's operational approach to climate risk mitigation and energy transition planning. The scalability mentioned suggests this serves as a proof-of-concept that could inform wider deployment across VEON's global operations.
Beyond environmental benefits, solar deployment addresses energy security challenges in Pakistan, where power shortages can impact service reliability. This creates resilience in VEON's operations while simultaneously reducing environmental impact—a winning combination for sustainable business operations in emerging markets.
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