IDCOL organized a workshop on EV ecosystem in Bangladesh

The event was organized as part of the UK Government-funded ‘’Road to a Green Bangladesh‘’ project that is scoping scalable business models and a financing ecosystem for businesses with an aim for electric vehicle uptake in Bangladesh.  

The event was chaired by Nazmul Haque, chief investment officer, IDCOL. 

The speakers at the event discussed the barriers that vehicle and battery manufacturers are facing for making investments in the electric mobility sector, the infrastructure required for EV adoption and their views of increasing women participation in the sector, according to a press release.   

Nazmul Haque in his speech pointed out IDCOL is opening dialogues and bringing in the mainstream EV market players to develop an ecosystem where with the right set of business models the sector will grow to be bankable guided by the policy framework. 

With the recent fuel price hike and increase of fares in public transport, the economy of running an EV presents a more lucrative option for vehicle owners.

The companies that participated in the workshop included Bangladesh Auto Industries Ltd., Haq’s Bay Automobiles, Nitol Motors, Navana Batteries Ltd., Rahimafrooz Batteries, Rimso Battery and Co. Pvt. Limited; HAMKO, Confidence Batteries Ltd. and others.  

Earlier, IDCOL in partnership with Ricardo-AEA Ltd., UK received funding from the UK Government under its UK Pact program for the project.

UK Pact is a capacity building program under the UK’s International Climate Finance portfolio through which the UK is supporting developing countries to respond to climate change both in climate mitigation and adaptation. 

The other implementing partners of the project include Policy Exchange Bangladesh, LightCastle Partners and HIVOSEnergia.

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