Pakistan Accelerates Electric Vehicle Manufacturing: 34 Companies Granted Licenses

Amidst escalating fuel prices in Pakistan, the government is swiftly moving towards the electrification of two and three-wheelers. In a significant development, the Engineering Development Board (EDB) has recently issued licenses to 34 manufacturers under the Electric Vehicles Policy for 2020-2025, signaling a pivotal shift from conventional fuel-powered vehicles to electric ones.

During a webinar hosted by the Sustainable Development Policy Institute, Asim Ayaz, a senior official at EDB, shed light on the financing challenges faced by customers due to the relatively higher costs associated with electric vehicles, primarily stemming from battery expenses. To tackle this issue, the ministry proposed the installation of EV charging stations at petrol stations across the country.

Ahmed Sajeel from Deewan Motors BMW underscored the evolving stance of Japanese car manufacturers towards electric vehicles, acknowledging the global shift towards EVs as a driving force behind this change. He stressed the importance of developing infrastructure in tandem with electric vehicles, suggesting that local manufacturing, leveraging Pakistan’s abundant raw materials like silica, holds the key to sustainable growth in this sector.

The transition towards electric vehicles marks a significant stride in addressing the dual challenges of soaring fuel prices and environmental degradation by reducing carbon emissions. However, ensuring affordability and establishing a robust charging infrastructure are indispensable elements for the success of this transition.

Earlier last month, Chief Minister Maryam Nawaz announced a scheme aimed at providing over 20,000 electric and petrol motorbikes to citizens, with a particular focus on students, through interest-free loans.

Under this initiative, the government plans to distribute 20,000 bikes, comprising 1,000 electric bikes and 19,000 petrol bikes. What’s more, students availing themselves of this opportunity won’t have to bear any interest on their monthly installments.

To streamline the distribution process, the Punjab government has partnered with the Bank of Punjab (BOP). The monthly installment for electric bikes is set at Rs. 10,000, while for petrol bikes, it stands at Rs. 5,000.

Afsheen Gohar

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