In the budget 2018-19, the government has given many incentives for electric vehicles. And to take advantage of these incentives, Rahmat Group has signed Memorandum of Understandings (MoUs) with different Chinese companies for joint venture and technical collaborations to make electric vehicles in Pakistan.
As per Dawn, the Group has already acquired 25 acres of land to establish Electrical Complex at Nooriabad. At the initial stage, the companies will produce electric buses to tap the transport market, and in the second face, a manufacturing plant would be established at the complex to produce electric cars and two-wheelers.
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The group is submitting an application to the Board of Investment and Ministry of Industries. And after the approval, the companies will haste to introduce vehicles. At first, CBU units will be imported for introduction within 3-4 months.
Some of the Chinese companies which have signed MoUs with Rahmat Group are Haohong Motors, Weifang Shandong Electric Power Technology Co Ltd, Shanghai Shenlong Bus Co Ltd, Wuxi Shengbao Electric Vehicle Co Ltd etc.
Rahmat Group is not the only company to launch electric vehicles in Pakistan, JAC Motors has also announced to introduce electric vehicles in the country soon.
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Developing countries are moving from fossil fuel based vehicles to electric cars to tackle climate change and global warming, and China is a torchbearer in this initiative. And without a doubt, it’s good news that a Chinese automaker is planning to come to Pakistan.
The incentives which the government has given in the budget 2018-19 are as follow:
- Exemption of 16% customs duty on charging stations for electric vehicles
- Reduction of customs duty from 50% to 25% and exemption of 15% RD on electric vehicles
- Customs duty on kits of electric vehicle reduced from 50% to 10%
Stay tuned for latest updates.
