Lahore: As the EV industry in growing very rapidly, Chinese EV automakers are interested in establishing their business in Pakistan. Some local companies have already started producing electric motor vehicles in Pakistan.
Electric automakers in China ha shown their interest in establishing their business sin Pakistan. As they seem hopeful about the growth of electric automotive industry in Pakistan. Industry people are confident that electric vehicles in Pakistan will enter a phase of rapid development in the coming future.
According to Muhammad Yusuf Shaikh, a founder and chairman of Pakistan-China motorcycle industry council (PCMIC). Pakistan has taken a step by producing more than 2.5 million motorcycles annually in recent years. Whereas, the electric motorcycle industry will bring development and changes to Pakistan’s motorcycle industry.
Last year, Jialin Industrial Co Ltd China established a branch in Pakistan. The main aim is to focus on the introduction of new energy pure electric motorcycles. Instead of developing conventional fuel run bikes. The step is an initiative toward an effort to spread the word about China’s significant breakthrough in new energy.
Yau Zhen, the person for actions in Pakistan, reported the China economic net that Pakistan is a country where motorcycles are the main mode of transport.
Indeed, the rise on oil prices has led to a massive increase in gasoline prices. The hype in prices make it imperative for consumers to switch to new energy markets. If we talk, the price of a pure electric motorcycle is a bit higher than that of a conventional petrol motorcycle.
However, in the long run , electric motorcycles save much more fuel cost than petrol run motorcycles, said Yau.
Presently, power failures, power shortages, incompetent charging facilities and insufficient production of electric vehicle parts in Pakistan are main challenges confronting Jialing in establishing a local plant in Pakistan.
Despite the above mentioned factors, Pakistan’s electric vehicle policy 2020-25 has golden opportunities for enterprises planning to invest in electric vehicles in Pakistan. It also includes 1% import duty on special parts of electric vehicles. One percent sales tax and zero CKD sales tax on locally manufactured and sold vehicles.