Get ready for a revolutionary shift in transportation! More than 100 e-bike assemblers are gearing up to flood the Pakistani market, ushering in a new era of electric mobility as reported by Tribune.
This surge in interest comes at a time when electric vehicles (EVs) are capturing the hearts of diverse groups, including women, girls, university students, and the elderly.
The driving force behind this transformation? Soaring petrol prices, exorbitant spare parts rates, and rising repair costs due to inflation.
EV Momentum and Consumer Preferences
Muhammad Sabir Sheikh, the Chief Coordinator of the Electric Two Wheelers Manufacturing Group, predicts that these assemblers will hit the Pakistani market around mid-2024.
There’s a noticeable shift in consumer preferences, with more riders opting for EV bikes over traditional petrol-powered ones. The waning interest in petrol bikes is evident in declining sales, as consumers are drawn to the allure of EVs.
Navigating the Delay
The influx of assemblers has experienced a slight delay, attributed to the winter season in Punjab and China. However, despite the wait, consumer enthusiasm remains high, especially for the latest EV models that boast exciting features.
Embracing Original Design EV Bikes
Muhammad Sabir Sheikh emphasizes the dominance of original-design EV bikes in the market, foreseeing the phasing out of converted EV bikes. With potential government support and a potential depreciation of the US dollar, there’s optimism that EV bike prices could see a decline, solidifying their position in the market.
Currently priced between Rs. 100,000 to Rs. 360,000, EV bikes are attracting a diverse consumer base, including girls, women, university students, elderly individuals, and daily commuters.
Leading Chinese companies and local brands such as Yadea, Eiffel Industries, Metro, Evee, and more are intensifying the competition with attractive offerings.
Overcoming Early Challenges
The EV bike industry faced challenges in its early days, with substandard materials and spare parts leading to a poor customer experience. However, the market has evolved, with reputable Chinese companies and local brands gaining trust.
Notably, approximately 25% to 30% of women and girls are now opting for EV bikes, contributing to a changing trend.
Future Growth and Market Expansion
With over 138 new EV bike assemblers adopting a wait-and-see approach, the market is poised for expansion, potentially reaching over 200 assemblers by 2024. This growth, however, depends on the political and economic stability of the country.
As the EV revolution unfolds, stay tuned for exciting developments that could reshape the way Pakistanis commute!
Hi there! My name is Kashif Hussain, the lead author of PakDrive. I am a huge car enthusiast and avid traveller. I have a deep passion for exploring the world and experiencing new cultures, and I love nothing more than hitting the open road and discovering new adventures behind the wheel of my favourite car. Whether I’m cruising down a winding mountain road or speeding down the highway, there’s nothing quite like the feeling of the wind and the purr of the engine beneath me. I hope to share my love of cars and travel with all of you through my writing, and I can’t wait to see where the road takes us next.”