Bank Alfalah sponsors Pakistan’s First Formula Electric Car

Bank Alfalah sponsors Pakistan’s First Formula Electric Car

Advancing its support in growing indigenous talent and taking innovation in Pakistan to the next level, Loan company Alfalah unveiled Pakistan’s Primary Formula Electric Car produced by the young innovators from FERN (Formula Electric Race NUST, a PNEC-NUST initiative).

Abdul Aleem, Shariq Waqar, Ahsan Lakhani, Imran Riaz, and Syed Muhammad Taha Rizvi are proud Pakistanis from FERN and Loan company Alfalah Rising Talent that contain not only made the country’s first Formula Electric powered Car, but are also all set to lead their team of 14 to the Formula SAE(R) Lincoln 2016 – a leading American competition for undergraduates – with Bank Alfalah’s support. While 30 teams from 6 countries were able to qualify for the competition, FERN emerged as the only team addressing not only Pakistan but the complete Asia.

Running on Lithium Ion Polymer Power packs, the Project FERN car weighs 275 Kgs and is also capable of achieveing the best speed of 110 km/h with an acceleration of 0-75 km in 4. 8 seconds. Some of car’s salient features include Rack & Pinion Type steering system, Single Intervention tailor made aluminum Calliper brake system, and an Bumpy A-Arm suspension with drive rods with SP-4 way dampers.

Sharing his joy on this major development, Atif Bajwa, President and CEO at Bank Alfalah, said, “Bank Alfalah Increasing Talent programme is a platform where the youngsters get opportunities to change ambitions into success, and plays a role in the country’s socio-economic development. Today we state that commitment by promoting a few of the brightest heads in Pakistan’s technological scenery. Developing the country’s first Formula Electric Car and representing Pakistan as the finalists for the recognized Formula SAE(R) Lincoln competition from Asia are milestone achievements not only for NUST but for the nation. “

“Being a first in a country with almost no Formula Race infrastructure, specifically electric vehicles, facilities or experience, the journey of getting Pakistan’s first Formula Electric Racing Car was faraway from easy. On the other hand, Bank Alfalah recognized the potential residing with these students, and came ahead when no person else was willing. Even with the team’s relentless courage and acumen, this idea will not have materialized without the support of Bank Alfalah’s Rising Talent Programme, very well said Engr. Salman Absar, Director Innovation & Commercialization at NUST.

“Making Pakistan’s First Formula Electric Car was packed with challenges but our determination led all of us to make it all possible now we stand here proud to be Pakistanis. This all could never have been possible without the support of Loan company Alfalah and we are all grateful to the Bank from the lower part of the hearts. We are also extremely overjoyed to have been selected as the Bank Alfalah Growing Talent and by the grace of God we provides another award home from Formula SAE(R) Lincoln subsequently, ” said Abdul Aleem, team leader, FERN.

The event also featured the five-member FERN team acquiring Bank Alfalah Rising Skill trophies from Atif Bajwa. If Project FERN is victorious at the Formula WEATHER RESISTANT Lincoln, all team users will enjoy exemption on certain modules if they wish pursue their Masters studies in the US, in conjunction with enjoying honorable mentions by the Formula SAE Lincoln competition.

Through the Rising Skill programme, Bank Alfalah offers a prestigious platform to foster talent and provide publicity to aspiring young and dynamic professionals. Because the programme’s inception, the Bank has been supporting emerging skill in fashion, sports, filmmaking, arts and technology.