34 Companies Get EV Manufacturing License
With fuel prices soaring in Pakistan once again, the newly formed government is pushing towards the electrification of two and three-wheelers. Recently, the Engineering Development Board (EDB) granted licenses to 34 manufacturers of such vehicles under the Electric Vehicles Policy for 2020-2025, marking a shift from traditional fuel-powered cars to electric ones.
During a webinar at the Sustainable Development Policy Institute, Asim Ayaz, a senior EDB official, highlighted the challenge of financing for customers, as electric vehicles tend to be pricier due to battery costs. To address this, the ministry proposed installing EV charging stations at every petrol station.
Ahmed Sajeel from Deewan Motors BMW mentioned that while Japanese car manufacturers were initially resistant to electric vehicles, the global trend towards EVs made their resistance unsustainable. He emphasized the importance of infrastructure alongside EVs, suggesting that local manufacturing, given Pakistan’s abundant raw materials like silica, is the way forward.
In essence, the shift towards electric vehicles represents a significant step in tackling rising fuel prices and reducing carbon emissions. However, ensuring affordability and establishing robust charging infrastructure are critical components of this transition.
Punjab Bike Scheme
Earlier in last month, Chief Minister Maryam Nawaz introduced a scheme initiative, under which the provincial administration laid out a plan to provide over 20,000 electric and petrol motorbikes to citizens, especially students, through interest-free loans.
The government planned to distribute a total of 20,000 bikes, out of which 1,000 will be electric bikes and 19,000 will be petrol bikes. And guess what? Students won’t have to worry about paying any interest on their monthly installments.
To make it easier for students, the Punjab government has teamed up with the Bank of Punjab (BOP) for bike distribution. The monthly installment for electric bikes is set at Rs. 10,000, while for petrol bikes, it’s Rs. 5,000.
What do you think about the initiative to make bike and rickshaws electric? Drop your thoughts in the comments section.