34 firms get licenses for making electric vehicles

ISLAMABAD: The Engineering Development Board (EDB) has issued 34 licences to manufacturers of two- and three-wheelers under the Electric Vehicles Policy for 2020-2025, as part of the transition from traditional fuel-powered automobiles to EVs.

At the same time, private partners are jumping into EV manufacturing, said Asim Ayaz, a senior EDB official, in a speech during a webinar at the Sustainable Development Policy Institute (SDPI) on “Pakistan’s electric vehicle market: challenges, opportunities, and the 2030 agenda” on Monday.

Mr Ayaz said the most pressing issue was the lack of financing for customers as EVs were more expensive than fuel-based vehicles due to the high price of batteries. He said the ministry had proposed that every petrol station have an EV charging station.

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Published in Dawn, April 9th, 2024