According to the agreement, the Chinese business on 75 acres of land in the Special Economic Zone of Punjab will establish an electric vehicle plant.

The MoU was signed. At a ceremony held at the Punjab Small Industries Corporation (PSIC) Office by the Chinese company’s CEO Biwan Han and Provincial Minister for Industries Chaudhry Shafay Hussain

The Chinese cooperation has shown a keen desire to invest in the business of electric vehicles, such as two-wheelers, electric buses, cars, three-wheelers and much more.

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At the ceremony the minister welcomed the investment with open arms. He stated that the government would help the Chinese group to set up an electric vehicle plant in Punjab in any way they could. He also added that swift steps are being taken by the Punjab government led by Chief Minister Maryam Nawaz Sharif to advance the EV industry.

He said, “We are providing all possible facilities to those who invest in e-products, batteries, charging stations and electric vehicles.” He underlined that the importance of promoting eco-friendly transport in Punjab is a top priority of the government.

The minister restated the Punjab government s resolve to encourage industrialization and bring new capital to the province. He added that by establishing new industries in Punjab, it ll create new jobs for citizens.

Hussain highlighted that Chinese investors and other foreign ones would be given proper security in Punjab and that foreign and domestic investors are receiving the greatest security facilities. According to him, the province is seeing a tremendous influx of investors in the province because of the favourable environment.

 “Our group will manufacture electric vehicles for export purposes along with providing them to the local market,”said the CEO of Skywell New Energy Vehicles Group.