Islamabad
\nLUMS and Habib Bank Limited (HBL) have signed an MoU to collaborate on developing commercial financing schemes for LUMS\u2019 upcoming project, \u2018Pakistan\u2013Battery Swapping Network\u2019.
\nThe initiative aims to accelerate the adoption of electric three-wheelers in Pakistan by introducing flexible and accessible financing options. Through this collaboration, both institutions seek to drive the transition toward cleaner, emission-free transport solutions and contribute to improving air quality across urban centres.
\nBeyond reducing emissions, the project aligns with Pakistan\u2019s climate change mitigation commitments under the Paris Climate Agreement and the country\u2019s Nationally Determined Contributions (NDCs).
\nThe signing ceremony was held at LUMS and was attended by senior representatives from both organisations, including Omer Mallick, Product Head SME, HBL, and Dr. Tariq Mahmood Jadoon, Provost, LUMS, along with team members from the LUMS Energy Institute (LEI) and HBL\u2019s SME division.
\nSpeaking on the occasion, Dr. Naveed Arshad, Director, LEI emphasised the project\u2019s role in catalysing private sector investment in electric vehicle (EV) charging infrastructure. He noted, \u201cThis project has the potential to demonstrate the strong techno-economic viability of electric three-wheelers compared to their internal combustion engine-based counterparts, serving as a catalyst for the transformation of Pakistan\u2019s road transportation sector towards EVs.\u201d
\nDr. Tariq Mahmood Jadoon highlighted the university\u2019s continued leadership in EV research and innovation, stating, \u201cLUMS has established the eMobility Research and Development Centre\u2014the first-of-its-kind facility in Pakistan for testing and characterisation of EV batteries, motors, and other components. The centre provides critical support to the emerging EV industry and will play a key role in advancing our upcoming project, Pakistan \u2013 Battery Swapping Network.\u201d
\nExpressing HBL\u2019s commitment to enabling sustainable finance and innovation, Omer Mallick, Product Head SME at HBL, shared, \u201cWe are delighted to partner with LUMS on this pioneering initiative. Through the Mitigation Action Facility\u2019s support for a first-loss guarantee, HBL will be able to offer subsidised and convenient financing options to private sector players and SMEs, facilitating the rollout of EV charging infrastructure across Pakistan.\u201d
\nThis collaboration represents a significant step toward developing Pakistan\u2019s electric mobility ecosystem by bridging the gap between research, innovation, and accessible financing.<\/p>\n","protected":false},"excerpt":{"rendered":"
Islamabad LUMS and Habib Bank Limited (HBL) have signed an MoU to collaborate on developing commercial financing schemes for LUMS\u2019 upcoming project, \u2018Pakistan\u2013Battery Swapping Network\u2019. The initiative aims to accelerate the adoption of electric three-wheelers in Pakistan by introducing flexible and accessible financing options. Through this collaboration, both institutions seek to drive the transition toward […]<\/p>\n","protected":false},"author":2,"featured_media":512539,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-512527","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n