Russian Tech Firm Extends Nano Tubes To Invest In Pak's EV Sector

Russian Technology firm Wednesday expressed its interest in investing in the Electric Vehicle (EV) Industry of Pakistan with the latest technology called Nano Tubes

ISLAMABAD, (UrduPoint / Pakistan Point News - 11th Sep, 2019 ) :Russian Technology firm Wednesday expressed its interest in investing in the Electric Vehicle (EV) Industry of Pakistan with the latest technology called Nano Tubes.

A delegation of Russian private company, led by Igor Kim, called on adviser to the Prime Minister and Federal Minister on Climate Change Malik Amin Aslam here, a press release said.

Talking to the delegation, the federal minister said the government was seriously focusing on the issue of climate change and took several steps in this regard.

The adviser said under the leadership and vision of Prime Minister Imran Khan, the government had taken five initiatives to mitigate the effects of climate change namely: Ten billion Tree Tsunami, Ban on Plastic Bags, Clean Green initiative, Electric Vehicle Policy and Green Climate Fund.

Malik Amin Aslam welcomed the offer and informed the delegation that EV policy was on cards and would be approved within a couple of weeks.

Once the policy was approved, he said it would open new horizons in research and development and investment.

"The government of Pakistan had also planned an Innovation District dedicated for Electric Vehicles and allied technologies.

We want to make Pakistan a hub for right-hand-drive electric vehicles all across the world", Amin added.

"The proposed policy will offer tariff incentives in order to make EV prices at par with conventional vehicles. Pakistan is a huge market for two and three wheelers and there is an immense potential for investment. Currently Pakistan's 43 percent emissions are from transport sector while EV will help reduce emissions by 2/3", he said.

The Russian delegation appreciated the efforts of Pakistan Government and introduced their products.

Kim said Nano Tube Technology was being used in all sorts of materials with scores of objectives from reinforcement to enhancing conductivity.

He said their product was microscopic and was widely being used in electric batteries, construction materials, LED screen, solar panels, plastics, tires, conductors and clothes.

"Introduction of Nano materials will add to energy efficiency by making it light weight and minimizing energy losses," he added.

The delegation appreciated initiatives of the government and showed their keenness to work with Pakistani entrepreneurs.