Crown Group Enters into Pakistani Electric Vehicle Segment – Research Snipers

Crown Group Enters into Pakistani Electric Vehicle Segment

The Crown Group, another Pakistani automobile company has ventured into the electric vehicle segment. A market testing and sales display have been organized by the Crown Group for its three and four-wheel electric vehicles.

The Crown Group Chairman Muhammad Farhan Hanif said that the new additions will allow users to drive for a kilometer for just Rs1.25.

The vehicles will be manufactured at the newly developed 26-acre facility of the Group at Port Qasim. It has an initial production capacity of 120,000 units per annum.

The official revealed, “The group has invested Rs2 billion in the plant in the first phase.”

On the basis of a yet to be implemented electric vehicle policy that will restrict customs duty to 1% on fully knocked down parts and 5% sales tax, the company will be displaying and testing the price of four-wheel electric cars at Rs400,000.

More Read: Pakistan Launches First Electric Rickshaw

However, the display and testing price for three-wheel rickshaw has been decided Rs300,000 and for two-wheel scooty it would be Rs55,000.

Crown is a popular brand in the two and three-wheeler segments in Pakistan’s auto sector. It exports to the global market as well.

Back in November 2019, the government of PTI approved the electrical vehicle policy aiming to tackle global warming and open options for affordable transportation for the people.

Must read: Electric Rickshaws to be Introduced in 3 Major Cities

Currently, the car ownership rate in Pakistan stands at 18 out of 1,000 people.

JS Global analyst Ahmed Lakhani said, “Electric vehicles are climate-friendly as well as cost-effective.

Adding, “Vehicle fuel has a significant share in Pakistan’s imports, of around 25%, which can be saved if the government’s plan is implemented.”

Leave a Reply

Your email address will not be published. Required fields are marked *