2024 Wrap – All EVs Launched in Pakistan

• Ahsan Tahir


• 20 Dec 2024

As 2024 comes to a close, it is worth taking a step back and examining the vehicles that entered the Pakistani market this year. There was a notable emphasis on electric and hybrid models, reflecting a shift in consumer interest and a response from manufacturers to global trends. Buyers saw options at various price points, from more affordable EVs to models that approached the premium segment. The diversity in offerings suggests that local buyers are no longer limited to a narrow set of choices when it comes to cleaner transportation.

Below is a month-by-month overview of the major launches this year:

February 2024: ORA 03, MG ZS EV Facelift

ORA 03 (PKR 9,000,000)

The ORA 03, at PKR 9 million, was slightly more accessible. Its arrival expanded the pool of choices for buyers who were still exploring which brand could offer them the best long-term value. In terms of performance, it provides a WLTP  range of 310 km with a 47 kWh battery and delivers a decent horsepower of 140 and 210 Nm of torque.

MG ZS EV MCE Essence (PKR 10,990,000)

MG ZS EV MCE Long Range (PKR 14,999,000)

MG introduced the MG ZS EV MCE in February 2024, offering two variants designed to cater to a range of preferences and needs. The Essence variant, priced at PKR 10,990,000,  offers a 320 km range with a battery capacity of 53.3 kWh. It delivers 174 hp and is equipped with features like 6 airbags, adaptive cruise control, lane assist, ABS, and hill assist, making it a well-rounded option for buyers seeking a mid-tier electric SUV.

On the other hand, the Long Range variant, priced at PKR 14,999,000, offers a slightly lower power output of 154 hp but compensates with an extended driving range of about 440 km with a 69.9 kWh battery. It is ideal for those prioritizing longer-distance travel. Both models feature the same safety and comfort features and come with a delivery time of 3 months, further cementing MG’s position as a competitive player in Pakistan’s growing EV market.

March 2024: Hyundai IONIQ 5 and 6

Hyundai IONIQ 5 (PKR  22,500,000)

Hyundai IONIQ 6 (PKR 23,000,000)

Hyundai introduced the IONIQ 5 and 6 as an upscale electric option, carrying a price tag that places them well above many competitors. Internationally, these models are known for their long driving range and focus on modern engineering. In Pakistan, its high price means it appeals more to buyers looking for a distinctive vehicle and who are willing to invest in a brand that has already built some reputation in the local market. The IONIQ 5 offers an extended range of 500 km with an 84 kWh battery, and the IONIQ 6 delivers a 519 km range with a 77.4 kWh battery capacity. While these models may not flood the streets, we think that Hyundai wanted to show its power, such as the potential of what it can offer in the Pakistani market.

June 2024: Honri Ve

Honri Ve 2.0 (PKR 3,999,000)

Honri Ve 3.0 (PKR 4,999,000)

 

By mid-year, Honri introduced the two Ve models in June; one was Ve 2.0, and the other was Ve 3.0. The 2.0 is priced at 4 million, which offers a 200 km CLTC range with 18.5 kWh. The 3.0 at 5 million offers a 300 km range with a battery capacity of 29.9 kWh. Both these models fit into a price range accessible to middle-segment buyers.

Although Honri might be unfamiliar to many, the presence of new names in the market indicates growing competition. More competition may encourage better features, warranties, and after-sales service as brands strive to build trust among local customers. For many buyers, the Honri Ve offered an opportunity to consider an electric vehicle that doesn’t reach the premium price bracket.

August 2024: Deepal S07 and Deepal L07

August was a busy month, with multiple launches that focused on the mid to higher price brackets.

Deepal S07 (PKR 14,999,000)

Deepal L07 (PKR 13,999,000)

Deepal introduced two models, the S07 and the L07, both priced above 10 million PKR. Both variants cost 1.4-1.5 Cr, but for the quality and luxury they offer, you’ll need to spend 5-6 Crs to get the same level of luxury from a German brand like Mercedes, Porsche, and BMW. The S07 comes with a 485 km long range with a 66.8 kWh battery, and the L07 offers a 540 km range with a 66.8 kWh battery capacity. The drive, comfort, and everything in these two cars is just mind-blowing, and it doesn’t look like a 1.5 Cr EV Chinese, but a full-fledged German car that costs about 5 Cr.

September 2024: ORA 07

ORA 07 (PKR 17,500,000)

ORA entered the market with another sedan offering 570 km range and 402 horsepower. The 07, in September, covers slightly different price segments than ORA 03. At PKR 17.5 million, the ORA 07 sat comfortably in the higher range, possibly aiming at a niche of buyers who appreciate design and premium interiors. 

October 2024: BYD ATTO 3, BYD Seal, MG Cyberster and Kia EV5

BYD Seal Dynamic (PKR 14,790,000)
BYD Seal Premium (PKR 16,990,000)

BYD, internationally known as a Tesla killer and going to beat Honda in 2024 annual sales,  also chose August for the launch of its two Seal models at 14.79 million PKR for the base variant.  

Soon, at the end of this December, BYD will beat Honda in annual sales, plus they’ve outperformed Tesla’s market share in the EV cars segment. The reason is simple: BYD has a very big setup that allows them to make their batteries for cheap, which Tesla can’t do because BYD has been making batteries since the ’80s. Hence, BYD has a much lower pricing than Tesla, plus more value-for-money offerings than other competitors.

The BYD launched two trims, BYD Seal Dynamic and BYD Seal Premium, offering different ranges and performance. The BYD Seal Dynamic features a 61.44 kWh batter that delivers a 510 km NEDC range, and the Seal Premium delivers a 650 km range with an 82.56 kWh battery.

KIA EV5 Air (PKR 18,500,000)
Kia EV5 Earth (PKR 23,500,000)

Launched alongside the ATTO3, the KIA EV5 made an impression due to its relatively lower price. At PKR 18.5 million for the base variant, it became one of the more accessible electric SUVs in the country. The EV5 caters to drivers looking to transition into electric ownership without committing to a very high initial investment. Its arrival suggested that EVs could serve a broad range of consumers, not just those with a large amount to spend.

Launched in two trims, Kia EV5 Air and Kia EV5 Earth, Kia offers options for the diverse requirements of the consumers. The Kia EV5 Air comes with a 400 km range with a battery capacity of 64 kWh, and the Kia EV5 Earth delivers a 500 km range with an 88 kWh battery.

BYD ATTO 3 (PKR 8,990,000)

In October, BYD introduced another model, the ATTO 3, this time at PKR 8.9 million. The ATTO 3 added to BYD’s presence in Pakistan and gave consumers a second BYD option. The BYD ATTO 3 comes with a 410 km long range with a battery capacity of 49.92 kWh, making it an excellent choice in the electric segment.

With two models now available, BYD showed commitment to building its local lineup, potentially making it easier for buyers to find service centers and spare parts. For buyers, knowing that a brand is not a one-off player is an important factor when making a significant investment in a vehicle.

November 2024: Seres 3 CKD

Seres 3 CKD (PKR 8,390,000)

Closing out the year’s major launches was the Seres 3 in November. Priced at PKR 8.39 million, it landed in a range that many buyers might consider reasonable, given the current economic scenario. This electric vehicle comes with a 49.3 kWh battery capacity that delivers 403 km of range. The Seres 3 offered choice to those exploring EVs around the 8 to 10 million PKR bracket. Its launch also suggested that the market was not slowing down. Instead, manufacturers were continuing to see potential, even late in the year. 

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