Hub Power Company Limited (HUBCO), Pakistan’s largest Independent Power Producer (IPP), has announced plans to enter the lithium mining sector and develop a battery manufacturing unit.

Lithium Mining and Battery Manufacturing Project

Hub Power Company Limited aims to explore lithium resources and is preparing a Reserves Report to assess potential. The company expects this report to take approximately 12-18 months.

Meeting Future Battery Demand

HUBCO is positioning itself to meet long-term battery demand. Lithium is essential for producing rechargeable batteries crucial for mobile devices and electric vehicles (EVs).

Electric Vehicle Manufacturing Initiative

HUBCO also plans to establish an EV manufacturing plant capable of producing 50,000 EVs annually. A significant portion of the production, 30% to 40%, will be exported to Australia and Africa.

Collaboration with BYD

In collaboration with BYD, a Chinese leader in EVs and renewable energy, HUBCO’s wholly-owned subsidiary, Hub Power Holdings, through its associated company Mega Motor Company (Private) Limited, is expanding its presence in the EV industry.

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