Hubco Green partners with PSO to install EV charging infrastructure

Hubco Green is entering into a collaboration agreement with Pakistan State Oil (PSO) for the installation of electric vehicle charging infrastructure at numerous PSO locations across Pakistan.

“Hub Power Holdings Limited, a whony owned subsidiary of The Hub Power Company Limited, through its newly incorporated subsidiary HUBCO Green, is entering into a new line of business which pertains to establishing and operating electric vehicle charging infrastructure, including but not limited to, importing, manufacturing, and assembling charging accessories,” a bourse filing noted.

Last month, HUBCO inaugurated its first EV charging station at Ocean Mall in Karachi.

The company plans to extend its EV charging network across Pakistan, targeting motorways, highways, major cities, and upscale malls and commercial areas.

As the automotive landscape evolves globally with the advent of New Energy Vehicles (NEVs) such as Battery Electric Vehicles (BEVs), Plug-in Hybrid Electric Vehicles (PHEVs), and Hybrid Electric Vehicles (HEVs), Pakistan's market is poised for growth.

The draft National Electric Vehicle Policy (NEVP) aims for electric vehicles to account for 30% of new passenger vehicle and heavy-duty truck sales by 2030 and 90% by 2040.