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angladeshi startup Fast Power Tech has secured approximately BDT 180 crore (about USD 1.5 million) in investment from Chinese energy technology company NUCL. This company, an associate of Steadfast Courier, plans to use the funds to establish an EV assembly line, charging stations, and related plants in the country. With a goal of creating a sustainable and eco-friendly energy infrastructure, they intend to begin a pilot program within the next six months.
Who Got the Money?
On May 1, a joint partnership agreement was signed in Guangzhou, China, between NUCL New Energy Technology (GD) Limited and Fast Power Tech. Under this agreement, an eco-friendly renewable energy management network will be built in Bangladesh. As part of this, NUCL’s car-cloud network will be used to set up charging stations nationwide for Extended Range Electric Vehicles (EREV) and Plug-in Hybrid Electric Vehicles (PHEV).
According to experts, this initiative will help reduce the country’s dependence on fossil fuels and lower carbon emissions. They believe that this joint venture—combining advanced Chinese technology with Steadfast Courier’s existing infrastructure—will create jobs, enhance technological skills, and promote environmentally friendly energy in Bangladesh.
KM Ridwanul Bari Jiyon, Chairman of Fast Power Tech, stated that they are currently working with storage batteries like lithium iron phosphate and lead-acid batteries, as well as solar power. He added that the new investment will be used to establish a factory in the country, and a suitable location will be selected from one of the economic zones.
The agreement was signed by KM Ridwanul Bari Jiyon, Chairman of Fast Power Tech, and Forest Liang, CEO of NUCL, in the presence of senior officials from both companies.
