KARACHI – May 12, 2016: 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).
Abdul Aleem, Shariq Waqar, Ahsan Lakhani, Imran Riaz, and Syed Muhammad Taha Rizvi are proud Pakistanis from FERN and Bank Alfalah Rising Talent that have not only made the country’s first Formula Electric Car, but are also ready to lead their team of 14 to the Formula SAE® 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 representing not only Pakistan but the entire Asia.
Running on Lithium Ion Polymer Batteries, the Project FERN car weighs 275 Kgs and is capable of achieveing the top 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 Piston custom made aluminum Calliper braking system, and an Unequal A-Arm suspension system with push rods 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 programme is a platform where the youth get opportunities to transform ambitions into success, and contributes to the country’s socio-economic development. 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 acumen, this idea would not have materialized without the support of Bank Alfalah’s Rising Talent Programme,” said Engr. Salman Absar, Director 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 overjoyed 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 pursue their Master’s studies in the US, in addition to enjoying honorable mentions by the Formula SAE Lincoln competition.
Through the Rising Talent programme, Bank Alfalah provides a prestigious platform to nurture talent and provide exposure to aspiring young and dynamic professionals. Since the programme’s inception, the Bank has been supporting emerging talent in fashion, sports, filmmaking, arts and technology.
About Bank Alfalah
Since its inception, Bank Alfalah has grown rapidly to become Pakistan’s fifth largest private bank, the largest issuer and acquirer of credit cards and one of the largest Islamic Banking businesses in the country. The Bank has a network of over 650 branches spanning more than 200 cities with presence in Afghanistan, Bangladesh and Bahrain in addition to a representative office in the UAE. The Bank serves more than 1 million corporate, retail, small business, agricultural, Islamic and asset financing customers.
About FERN (Formula Electric Racing NUST)
Formula Electric Racing NUST is an initiative by students of PNEC (Pakistan Navy Engineering College) and NUST (National University of Sciences and Technology) to formulate formula style race car as well as to carry out marketing activities associated with it and represent it in formula Student Germany. The primary aim of the team is to create a marketable car capable of being produced on a large-scale which appeals to both professional and amateur racers, while adhering to the standards defined by FSAE Electric.
About Formula SAE Lincoln
Formula SAE® Lincoln is a high-performance engineering project that is extremely valued by universities and usually forms part of a degree-level project. It is viewed by the motorsport industry as the standard for engineering graduates to meet, transitioning them from university to the workplace. At Formula SAE® Lincoln, students build a single seat formula race car with which they can compete against teams from all over the world. The teams compete in building the best possible car, being judged on the overall package of construction, performance, and financial and sales planning.
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