May 1, 2025
UAP EEE Alumnus & Steadfast Courier Chairman Leads $15M EV Venture with NUCL
KM Reidwanul Bari Zion, alumnus of UAP EEE and Chairman of both FastPower Tech and Steadfast Courier Ltd, leads a landmark $15M partnership with China's NUCL to launch EV assembly lines and nationwide charging infrastructure in Bangladesh.
Founder: KM Reidwanul Bari Zion (EEE Alumnus)
Company: FastPower Tech & Steadfast Courier Ltd
Valuation: $15M
Team: 50+
Partnership Announcement
On May 1, 2025, FastPower Tech signed a major joint venture MoU with China's NUCL in Guangzhou, marking a pivotal moment in Bangladesh's transition to electric vehicles (EVs). The signing ceremony was attended by key stakeholders from both companies, including KM Reidwanul Bari Zion, a distinguished alumnus of the Department of Electrical and Electronic Engineering (EEE), University of Asia Pacific (UAP), and the Chairman of FastPower Tech and Steadfast Courier Ltd. This agreement sets the foundation for a national EV ecosystem built on sustainable technology and global collaboration.
Investment & Operations
Under this joint venture, FastPower Tech and NUCL will invest $15 million to establish local assembly lines for Extended-Range Electric Vehicles (EREVs) and Plug-in Hybrid Electric Vehicles (PHEVs). Trial operations are scheduled to commence within six months, and the manufacturing plant will be strategically located in a Bangladeshi economic zone. The investment aims to accelerate local production capacity, reduce import dependency, and create high-skilled job opportunities in the EV sector.
Technology and Infrastructure
The collaboration brings cutting-edge NEV (New Energy Vehicle) technologies to Bangladesh, including AI-driven EV diagnostics, cloud-based battery management, and modular vehicle architecture. Additionally, the initiative includes building a network of EV charging stations under NUCL's CAR CLOUD infrastructure, ensuring seamless mobility across the country. These tech-forward efforts are expected to lay the groundwork for a smart, connected, and eco-friendly transportation system.
Strategic Vision
This venture merges the strengths of NUCL's advanced EV technologies, FastPower Tech's industry leadership, and Steadfast Courier Ltd's robust logistics infrastructure. Together, the alliance seeks to redefine urban and inter-city transportation through innovation and strategic deployment. Zion's leadership reflects how engineering alumni from UAP are influencing national development and leading global-standard technological transformations.
Environmental Impact
The FastPower-NUCL partnership is aligned with Bangladesh's national agenda for reducing fossil fuel dependency and greenhouse gas emissions. By promoting clean transportation alternatives and local EV manufacturing, the project is expected to significantly lower the country's carbon footprint. It's a step toward achieving the Sustainable Development Goals (SDGs), particularly those related to climate action, sustainable industry, and clean energy.
Highlights
- Led by UAP EEE alumnus KM Reidwanul Bari Zion
- Chairman of both FastPower Tech and Steadfast Courier Ltd
- Joint $15M investment with China's NUCL
- EV plant and charging infrastructure planned across Bangladesh
- Focus on sustainability, innovation, and energy efficiency