Extending its support in developing indigenous talent and taking innovation in Pakistan to the next level, Bank Alfalah unveiled Pakistan’s First Formula Electric Car developed by the young innovators from FERN (Formula Electric Racing NUST, a PNEC-NUST initiative).
Running on Lithium Ion Polymer Batteries, the Project FERN car weighs 275 Kgs and is capable of achieving the top speed of 110 km/h with an acceleration of 0-75 km in 4.8 seconds. Some of the car’s salient features include Rack & Pinion Type steering system, Single Piston custom made aluminum Calliper braking system, and an Unequal A-Arm suspension system with pushrods with SP-4 way dampers.
Sharing his delight on this major development, Atif Bajwa, President, and CEO at Bank Alfalah, said, “Bank Alfalah Rising Talent program is a platform where the youth get opportunities to transform ambitions into success and contributes to the country’s socio-economic development.”
He said, “Today we reiterate that commitment by supporting some of the brightest minds in Pakistan’s technological landscape. Developing the country’s first Formula Electric Car and representing Pakistan as the finalists for the acclaimed Formula SAE® Lincoln competition from Asia are landmark achievements not only for NUST but for the country.”
“Being a first in a country with virtually no Formula Racing infrastructure, especially for electric vehicles, facilities or experience, the journey of making Pakistan’s first Formula Electric Racing Vehicle was far from easy. However, Bank Alfalah recognized the potential residing with these students and came forward when no one else was willing. Even with the team’s relentless courage and understanding, this idea would not have developed without the support of Bank Alfalah’s Rising Talent Programme,” said Engr. Salman Absar, Director of Innovation & Commercialization at NUST.
“Making Pakistan’s First Formula Electric Car was full of challenges but our determination led us to make it all possible and today we stand here proud to be Pakistanis. All of this could never have been possible without the support of Bank Alfalah and we are all grateful to the Bank from the bottom of our hearts. We are also extremely happy to have been selected as the Bank Alfalah Rising Talent and by the grace of God we will bring another award home from Formula SAE® Lincoln,” said Abdul Aleem, team leader, FERN.
The event also featured the five-member FERN team receiving Bank Alfalah Rising Talent trophies from Atif Bajwa. If Project FERN wins at the Formula SAE Lincoln, all team members will enjoy exemption on certain modules if they wish to pursue their Master’s studies in the US, in addition to enjoying honorable mentions by the Formula SAE Lincoln competition.
Through the Rising Talent program, Bank Alfalah provides a prestigious platform to nurture talent and provide exposure to aspiring young and dynamic professionals. Since the program’s inception, the Bank has been supporting emerging talent in fashion, sports, filmmaking, arts, and technology.