Karachi: In a significant move announced on June 16, 2026, Oilboy Energy Limited's Board of Directors has approved resolutions paving the way for the establishment of a dedicated Electric Vehicle (EV) Platform. The decision, confirmed during a board meeting held the same day, underscores the company's strategic shift towards sustainable energy solutions and advanced mobility technologies.

The resolutions indicate Oilboy's commitment to developing a robust infrastructure for EV charging networks, including battery charging and swapping facilities, as well as integrating renewable energy sources. The board has sanctioned the creation of a subsidiary or corporate structure necessary to undertake these initiatives, which are expected to facilitate the energy transition, smart mobility, and digital technology advancements.

According to information available from the Pakistan Stock Exchange (PSX), the company also aims to attract both domestic and international investments. The strategic plan involves engaging with venture capital funds, private equity firms, and strategic investors to secure capital through various funding rounds, subject to board approval and regulatory compliance.

Oilboy Energy Limited has set an ambitious goal of establishing a nationwide EV charging network, strategically planning its infrastructure across Pakistan's highways, urban centers, and commercial districts. The board has mandated the preparation of feasibility studies and business plans to support this expansive vision.

In addition to infrastructure development, the company is authorized to explore potential acquisitions, investments, and partnerships with fuel stations, EV operators, and technology providers. This exploratory approach aims to enhance the company's capabilities in the EV sector and related industries.

The board has also initiated a review of the company's Memorandum and Articles of Association, proposing necessary amendments to empower the company and its subsidiaries in undertaking these new business ventures effectively.

The resolutions reflect a comprehensive approach towards embracing future mobility and energy solutions, positioning Oilboy Energy Limited as a key player in Pakistan's evolving energy landscape.