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Pakistan became the fifth largest country in the world in the sale of motorcycles

Pakistan became the fifth largest country in the world in the sale of motorcycles

Islamabad (INP) Pakistan has become the fifth largest country in the world in the sale of motorcycles, the number of motorcycles on the roads has reached 50 million, the demand has increased by 53%, due to the increase in the price of petrol, motorcycles 12 companies were issued licenses to manufacture and assemble electric vehicles.

According to a Wealth Pak report, electric vehicles are considered to play a major role in reducing carbon emissions and oil demand. According to the International Energy Agency’s Net Zero Emissions Scenario, a 75 percent reduction in fossil fuel consumption by 2050 would be necessary to meet zero-carbon goals. Engineering Development Board of Pakistan Policy Manager Engineer Asim Ayaz while talking to Wealth Pak said that the Engineering Development Board has issued licenses to 12 companies out of 21 institutions to manufacture and assemble electric vehicles in Pakistan.

The current adoption rate of EV policy is 2.2 percent for two and three wheelers and 0 percent for four wheelers. However, a company Dice and MG Motors are being licensed to explore the market for four-wheelers as well. Asim Ayaz said that the main reason for the low trend in this direction is that the companies do not have adequate information about the policies and procedures and the companies are not fully prepared to meet the requirements of charging stations, installation and their operation. said that several incentives have been given to increase EV manufacturing and licenses have also been given to some companies that are going to work on hybrid-based models. Talking to Wealth Pak, Director of the Institute of Business Administration, Center for Business And Economic Research Dr. Junaid Alam Memon said the National Electric Vehicle Policy is achievable because EVs are easier to produce, have fewer parts and require less personnel on the assembly line to reduce labor costs. They are also less expensive for buyers because most of the world’s oil is used in transportation, he said. The pregnancy industry should be decarbonized and the auto industry should switch from fossil fuel consumption to sustainable energy sources.

Electric vehicles that use clean electricity are the best way to achieve this goal, he said. Pakistan implemented a National Electric Vehicles Policy in November, which calls for 30 percent of all passenger car and heavy-duty truck sales by 2030. And targets and incentives of 90 percent by 2040 have been set. He said there are 32 million households in Pakistan and 17.5 million motorcycles on the roads, with motorcycle sales increasing from 41 percent in 2015 to 53 percent in 2018. Is.

Pakistan is the fifth largest motorcycle market after China, India, Indonesia and Vietnam. The EV industry has the potential to significantly boost the economy by securing foreign cash, creating thousands of new jobs and encouraging the growth of related industries. Electric vehicles can also significantly reduce health costs associated with air and noise pollution in urban areas, but sustained policy support is needed for this change to occur.

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