The Chief Executive of the Engineering Development Board (EDB), Hammad Mansoor, has announced that a locally made electric car, priced at around Rs. 1 million, could enter the Pakistani market by June.
Speaking to reporters at an Iftar dinner, Mansoor said the vehicle will be a fully electric “Made-in-Pakistan” car. He also hinted that vehicle taxes may be lowered in the upcoming federal budget, making hybrid, electric, and traditional cars more affordable.
Mansoor added that the long-standing control of a few large car manufacturers in Pakistan is starting to change as new companies enter the market and local production increases. He explained that more competition and local manufacturing could bring car prices down by up to Rs. 2.5 million.
The EDB chief also revealed that Pakistan’s first lithium battery manufacturing plant is expected to start production by May, while another battery facility may begin operations in September.
He further mentioned that about 74% of battery components will be produced locally, which could reduce the cost of electric vehicles thanks to locally made parts.
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