One of largest tractor manufacturers in Pakistan, Millat Tractors Limited, is formally assessing whether one of its group companies can manufacture electric bikes locally.
The company submitted an official notice to the Pakistan Stock Exchange (PSX) on Thursday, confirming the preliminary nature of this internal evaluation process.
Millat Tractors stated that the move comes in response to recent market speculation about its potential entry into the electric motorcycle segment in Pakistan.
Millat Tractors Limited was clear that no final decision has been taken, and the assessment remains at an early and exploratory stage at this point.
Rising fuel costs driving EV demand
The announcement follows a significant and sustained increase in the demand for electric bikes and scooters across markets throughout Pakistan in recent months.
Bike dealers and industry experts have reported that around 40,000 electric two-wheelers were sold in Pakistan during the month of April alone.
Of those sales, approximately 90 percent were electric scooters and around 10 percent were classified as full electric motorcycles by dealers and market analysts.
Experts noted that actual consumer demand during April was significantly stronger than the number of units that were ultimately available for sale and delivery.
Government raises petroleum prices
The Pakistani government last week announced a new increase in petroleum product prices, raising the cost of petrol by Rs6.51 per litre nationally.
The price of high-speed diesel was increased by Rs19.39 per litre, bringing its new official price to Rs399.58 per litre across Pakistan.
Petrol, officially known as motor spirit, now costs Rs399.86 per litre, rising from the previous government-set price of Rs393.35 per litre countrywide.
