Lahore University of Management Sciences (LUMS) and Habib Bank Limited (HBL) have signed a Memorandum of Understanding (MoU) to collaborate on developing commercial financing schemes for LUMS’ upcoming project, “Pakistan – Battery Swapping Network.”
The initiative aims to promote the adoption of electric three-wheelers across Pakistan by offering easy and flexible financing options. Through this partnership, LUMS and HBL plan to accelerate the shift toward clean, emission-free transportation and help improve air quality in major urban areas.
The Pakistan – Battery Swapping Network supports the country’s broader environmental goals, including commitments under the Paris Climate Agreement and Pakistan’s Nationally Determined Contributions (NDCs) to reduce carbon emissions.
The signing ceremony took place at the LUMS campus and was attended by senior representatives from both institutions. Participants included Omer Mallick, Product Head SME at HBL, and Dr. Tariq Mahmood Jadoon, Provost at LUMS, along with members from the LUMS Energy Institute (LEI) and HBL’s SME division.
Speaking at the event, Dr. Naveed Arshad, Director of LEI, said the project would play a key role in encouraging private sector investment in electric vehicle (EV) charging infrastructure. He noted that the initiative could prove the techno-economic feasibility of electric three-wheelers compared to conventional fuel-based vehicles.
Dr. Tariq Mahmood Jadoon highlighted LUMS’ pioneering work in electric mobility research. He shared that the university has established Pakistan’s first eMobility Research and Development Centre, dedicated to testing EV batteries, motors, and other components. The centre, he added, would play a vital role in advancing the Pakistan – Battery Swapping Network project.
This collaboration between LUMS and HBL demonstrates a strong commitment to innovation, sustainability, and clean energy. By promoting the use of electric vehicles, both institutions aim to contribute to a greener and more sustainable transportation future for Pakistan.
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