1. ISLAMABAD: Dewan Farooque Motors Limited (DFML) has achieved a significant milestone by assembling over 100 units of the Chinese electric vehicle (EV) ‘Honri-VE’ in just three months at its local assembly plant. The vehicles have been delivered to Eco-Green Motors Limited for distribution to customers, marking a strong entry into Pakistan’s evolving EV market.
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2.Hub Power Holdings Limited (HPHL), a wholly owned subsidiary of The Hub Power Company Limited, has signed a shareholders agreement with Mega Conglomerate (Private) Limited (MCPL), according to a stock filing on Thursday.
Under the agreement, MCPL will acquire a 50% shareholding in Mega Motor Company (Private) Limited.
The rationale of the transaction is to consolidate the expertise of both Hub Power Holdings Limited and Mega Conglomerate (Private) Limited and strengthen the business venture with BYD Auto Industry Company Limited.
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3 Local assemblers and dealers of electric vehicle (EV) motorbikes have called on the federal government and the Engineering Development Board (EDB) to include their charter of demands in the upcoming New Energy Vehicle (NEV) policy.
The industry has urged the EDB to allow zero or 1% import duties on Completely Knocked Down (CKD) units and eliminate taxes ranging from 1% to 40% on various bike parts. Free registration and easy financing options are also critical to making EVs more accessible to local consumers. Stakeholders, including the EDB, Ministry of Industries and Production, and associations, must collaborate to support the industry’s growth.
According to the Pakistan Electric Vehicle Association (PEVA), about 40 EV motorbike brands with original designs have been launched in the country, with sales currently at 3,000 units per month.
Sources indicate that the EDB has shortlisted 10 NEV assemblers to supply 40,000 units, which will be made available to customers at subsidised rates through an e-portal.
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4 A leading Chinese lithium battery manufacturer has expressed interest in establishing an assembly and manufacturing plant in Punjab.
The announcement was made during a meeting between a Chinese delegation led by Eenovance CEO Shi Yukun and Punjab Industries Minister Chaudhary Shafay Hussain.
Shi Yukun requested eight acres of land in Quaid-e-Azam Business Park, Sheikhupura, for the lithium battery project. He emphasized his group’s commitment to investing in Punjab, particularly in lithium battery production.
Minister Shafay Hussain assured the delegation of full support, including providing the required land and access to Punjab’s industrial estates. He also highlighted the incentives available in Punjab’s Special Economic Zones, including a 10-year income tax exemption and duty-free machinery import.
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