Hub Power Company Limited is set to enter lithium mining and battery manufacturing operations under the Special Investment Facilitation Council's (SIFC) initiative, marking a significant expansion in Pakistan's industrial capacity.
The project, scheduled for completion within 12 to 18 months, aims to address the increasing demand for rechargeable batteries used in mobile phones, laptops, digital cameras, and electric vehicles.
The venture is expected to boost Pakistan's automotive manufacturing capabilities, complementing existing plans for electric vehicle production. A facility already under development is projected to produce 50,000 electric vehicles annually, with 30-40 percent designated for export to Australian and African markets.
In a parallel development, Chinese automotive giant BYD has partnered with Mega Motors Limited, a Hub affiliate, to establish an electric vehicle assembly plant in Pakistan, further strengthening the country's position in the electric vehicle sector.
SIFC's business-friendly policies have contributed to improved investor confidence, resulting in increased domestic and foreign investment across various sectors. The initiative aligns with Pakistan's efforts to expand its industrial base and participate in the growing global electric vehicle market.
The lithium mining project represents a strategic move in Pakistan's industrial development, potentially creating a local supply chain for the country's emerging electric vehicle and battery manufacturing sectors.
