National Incubation Center at LUMS hosted the launch of “Electric Vehicles and Battery Market Assessment” report at its center.  Authored by Dr Naveed Arshad, the report examines Pakistan’s EV policies and regulations, details the characteristics of current and future EV markets, outlines the key factors for success, and provides a framework for investment and partnerships between Pakistani and American companies.

The launch was attended by Consul General of United States to Lahore, Mr. William Makaneole, the Finance Minister for Punjab, Mr. Hashim Jawan Bakht, Founder, LUMS, Syed Babar Ali, Vice Chancellor, LUMS, Dr Arshad Ahmad, Chairman, NICL, Mr. Saleem Ahmad along with representatives of USAID, academia and industry.

Speaking at the occasion, the US Consul General, Mr. William Makaneole, highlighted the need to promote EVs to tackle climate change and increase economic activity, and emphasized the importance of Pakistani SMEs in playing a major role to fulfill the domestic market needs for affordable and high-quality EVs. He added that American SMEs are crucial in leading technologies to tackle climate change challenges and outlined opportunities for collaboration and mutual benefit for both countries, stating that the report will play an important role in this arena.

In his remarks, the Finance Minister, Mr. Hashim Jawan Bakht, explained the Government’s efforts to take steps to promote the use of electric vehicles for both mass transit and individual use, and to tackle greenhouse emissions through transport. He added that the launch of this report will help the local SMEs in making a strong case for international investment and developing partnerships.

The Vice Chancellor at LUMS, Dr. Arshad Ahmad highlighted the role academia plays in economic development, especially by undertaking research and knowledge sharing. He emphasized that LUMS will continue to play its role by enabling highly-skilled and knowledgeable youth, who, through NICL’s training and support, will create economic opportunities for the country.

The Chairman at NICL, Mr. Saleem Ahmad spoke about the role of NICL in fostering a nexus of industry, academia and research to spurn innovation for sustained economic growth in Pakistan.  Through its focus on five key verticals of Agriculture, Education, Environment, Healthcare and Financial Inclusion, NICL is aiming to develop solutions for large-scale problems that also reflect commercial potential.  Mr. Ahmad also spoke about NICL’s facilitation as an innovation hub for local industry to close the productivity gap and enhance competitiveness through quality and cost effectiveness. Under his leadership, NICL has also expanded its scope from serving as a springboard for venture incubation to focusing on mass scale human capital development, through applied skills training and corporate innovation, through an intersection of applied research, industry and talent to solve Pakistan’s biggest problems.

The event was followed by a start-up competition in the electric mobility space where start-up founders presented breakthrough ideas for Pakistan.