ADM Group to invest $250 million in manufacture of electric vehicles in Pakistan

An electric Audi sports utility vehicle (SUV) charges at a public Electrify America EV DC fast charger in Los Angeles, California on May 16, 2024. (AFP/File)
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Updated 15 August 2024
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ADM Group to invest $250 million in manufacture of electric vehicles in Pakistan

  • Pakistan’s urban areas exhibit some of the world’s highest levels of air pollution primarily due to vehicle emissions
  • Charging network stations to be established during first phase of project, manufacturing of vehicles in second 

ISLAMABAD: Investment company ADM Group has announced it would invest up to $250 million for the manufacturing of electric vehicles in Pakistan, state-run media reported on Thursday, in a move likely to boost technological advancements in the country’s automobile industry and curtail pollution. 

Pakistan’s urban areas exhibit some of the world’s highest levels of air pollution, primarily due to sub-2.5 μm particulate emissions. This issue significantly impairs both the country’s economy and the quality of life of its residents. Road transport is a significant contributor to air pollution as around 23 percent of Pakistan’s greenhouse gas emissions originate from vehicles.

Pakistan approved an ambitious National Electric Vehicles Policy (NEVP) in 2019 with the goal of electric vehicles comprising 30 percent of all passenger vehicles and heavy-duty truck sales by 2030, and an even more ambitious target of 90 percent by 2040. 

“ADM Group has announced an investment of 250 million dollars for the manufacturing of electric vehicles in Pakistan,” state broadcaster Radio Pakistan said in a report. 

It said the understanding was reached during a meeting between the Minister for Industries and Production Rana Tanveer Hussain and ADM Group Chief Executive Officer Yasir Bhambhani in Islamabad on Thursday. 

Bhambhani briefed Hussain that charging network stations would be established in the first phase of the project while electric vehicle manufacturing would commence in the second one. An electric vehicle will be able to cover a distance of 300km on one charge, state media reported. 

“EVs are being promoted on numerous fronts, including through new federal and provincial policies and by public commitments from automakers to convert their fleets to EVs,” ADM’s website quoting Bhambhani said. 

“However, there are still some fundamental issues that could affect the widespread adoption of EVs, including the absence of EV infrastructure in Pakistan.”

Meanwhile, Minister Hussain assured the government would provide all possible facilities to attract foreign direct investment in Pakistan, saying that electric vehicles were now a reality. 

ADM Group said on its website that electric car markets were seeing “exponential growth” in Pakistan as sales exceeded 10 million in 2022. 

“A total of 14 percent of all new cars sold were electric in 2022, up from around 9 percent in 2021 and less than 5 percent in 2020,” the group said. 

It said over 2.3 million electric cars were sold in Pakistan during the first quarter of 2023, about 25 percent more than in the same period last year.


Pakistani on trial in US says Trump, Biden were possible targets in Iran-linked assassination plot

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Pakistani on trial in US says Trump, Biden were possible targets in Iran-linked assassination plot

  • Asif Merchant, who paid money to hitmen, tells court Iranian contact named three potential targets
  • The Pakistani national says he anticipated getting arrested, acted out of fear for his relatives in Iran

NEW YORK: The allegation sounded like the stuff of spy movies: A Pakistani businessman trying to hire hit men, even handing them $5,000 in cash, to kill a US politician on behalf of Iran ‘s powerful paramilitary Revolutionary Guard.

It was true, and potential targets of the 2024 scheme included now-President Donald Trump, then-President Joe Biden and former presidential candidate and ex-UN Ambassador Nikki Haley, the man told jurors at his attempted terrorism trial in New York on Wednesday. But he insisted his actions were driven by fear for loved ones in Iran, and he figured he’d be apprehended before anything came of the scheme.

“My family was under threat, and I had to do this,” the defendant, Asif Merchant, testified through an Urdu interpreter. “I was not wanting to do this so willingly.”

Merchant said he had anticipated getting arrested before anyone was killed, intended to cooperate with the US government and had hoped that would help him get a green card.

US authorities were, indeed, on to him — the supposed hit men he paid were actually undercover FBI agents — and he was arrested on July 12, 2024, a day before an unrelated attempt on Trump’s life in Butler, Pennsylvania. Merchant did sit for voluntary FBI interviews, but he ultimately ended up with a trial, not a cooperation deal.

“You traveled to the United States for the purpose of hiring Mafia members to kill a politician, correct?” Assistant US Attorney Nina Gupta asked during her turn questioning Merchant Wednesday in a Brooklyn federal court.

“That’s right,” Merchant replied, his demeanor as matter-of-fact as his testimony was unusual.

The trial is unfolding amid the less than week-old Iran war, which killed Iranian Supreme Leader Ayatollah Ali Khamenei in a strike that Trump summed up as “I got him before he got me.” Jurors are instructed to ignore news pertaining to the case.

The Iranian government has denied plotting to kill Trump or other US officials.

Merchant, 47, had a roughly 20-year banking career in Pakistan before getting involved in an array of businesses: clothing, car sales, banana exports, insulation imports. He openly has two families, one in Pakistan and the other in Iran — where, he said, he was introduced around the end of 2022 to a Revolutionary Guard intelligence operative. They initially spoke about getting involved in a hawala, an informal money transfer system, Merchant said.

Merchant testified that his periodic visits to the US for his garment business piqued the interest of his Revolutionary Guard contact, who trained him on countersurveillance techniques.

The US deems the Revolutionary Guard a “foreign terrorist organization.” Formally called the Islamic Revolutionary Guard Corps, the force has been prominent in Iran under Khamenei.

Merchant said the handler told him to seek US residents interested in working for Iran. Then came another assignment: Look for a criminal to arrange protests, steal things, do some money laundering, “and maybe have somebody murdered,” Merchant recalled.

“He did not tell me exactly who it is, but he told me — he named three people: Donald Trump, Joe Biden and Nikki Haley,” he added.

After US immigration agents pulled Merchant aside at the Houston airport in April 2024, searched his possessions and asked about his travels to Iran, he concluded that he was under surveillance. But still he researched Trump rally locations, sketched out a plot for a shooting at a political rally, lined up the supposed hit men and scrambled together $5,000 from a cousin to pay them a “token of appreciation.”

He even reported back to his Revolutionary Guard contact, sending observations — fake, Merchant said — tucked into a book that he shipped to Iran through a series of intermediaries.

Merchant said he “had no other option” than to play along because the handler had indicated that he knew who Merchant’s Iranian relatives were and where they lived.

In a court filing this week, prosecutors noted that Merchant didn’t seek out law enforcement to help with his purported predicament before he was arrested. He testified that he couldn’t turn to authorities because his handler had people watching him.

Prosecutors also said that in his FBI interviews, Merchant “neglected to mention any facts that could have supported” an argument that he acted under duress.

Merchant told jurors Wednesday that he didn’t think agents would believe his story, because their questions suggested “they think that I’m some type of super-spy.”

“And are you a super-spy?” defense lawyer Avraham Moskowitz asked.

“No,” Merchant said. “Absolutely not.”