A new start-up business has declared that it will produce 8,000 electric motorcycles in Pakistan, with pricing starting at Rs450,000. This comes as Pakistan’s gasoline costs continue to rise.
Indus Valley Capital, an early-stage venture capital fund that invests in Pakistani entrepreneurs, led the $1.2 million seed capital investment in the company, Zyp Technologies.
In order to accommodate the demand from business clients and individual buyers, it has also created an assembly line that can produce up to 8,000 motorcycles annually.
Future electric motorcycles will cost anything from Rs150,000 to Rs450,000, depending on the model. The business also intends to set up 4,000 charging stations across the nation.
The technologies enable motorcycle fleet operators to save up to 70% on gasoline expenditures and remove air-polluting emissions, making their operations environmentally sustainable and lucrative in Pakistan due to climate change and rising fuel prices.
The interim government recently raised the cost of petrol and diesel by more than 14 rupees per liter, passing the 300 threshold.
The increase, according to the Finance Division, was brought on by “variations in exchange rates and the increasing trend of petroleum prices in the international market.”
High-speed diesel (HSD) costs Rs311.84 per liter while petrol is now priced at Rs305.36 per liter.
