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Pakistan-made e-motorbikes to save up to 70% on fuel costs

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1 year ago

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  • Company to manufacture 8,000 electric motorcycles.
  • Cost to range between Rs150,000-450,000 depending on variety.
  • Company says its operations are environmentally sustainable. 

ISLAMABAD: Amid increasing petrol prices in Pakistan, a new start-up company has announced that it would manufacture 8,000 electric motorcycles ranging up to Rs450,000 in the country, The News reported on Tuesday. 

The company, Zyp Technologies, has raised $1.2 million as a seed capital investment led by Indus Valley Capital — which is an early-stage venture capital fund investing in Pakistani startups. 

It has also established an assembly line capable of producing up to 8,000 motorcycles annually to meet demand from business customers and individual buyers. 

The cost of upcoming electric motorbikes will range between Rs150,000 to Rs450,000 depending on variety. The company also plans to establish 4,000 charging stations across the country.

With climate change and rising fuel prices in Pakistan, the solutions enable motorcycle fleet operators to save up to 70% on fuel costs and eliminate air-polluting emissions, making their operations environmentally sustainable and profitable.

In recent days, the caretaker government increased the petrol and diesel prices by over Rs14 per litre, crossing the 300 mark. 

The Finance Division had said the hike was due to the “increasing trend of petroleum prices in the international market and exchange rate variations”.

Currently, the price of petrol is Rs305.36 per litre while high-speed diesel (HSD) price is Rs311.84 per litre. 

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February 7, 2025: The value of the Pakistani Rupee (PKR) in relation to the US dollar is unchanged.

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KARACHI: The open market exchange rate between the US dollar and the Pakistani rupee (PKR) was Rs279.4 on February 07, 2025, with a selling rate of Rs281.1. The interbank exchange rate between the US dollar and the Pakistani rupee is Rs 278.45, according to Interbank.

There was no movement in the US dollar (USD) from the previous closure of Rs278.

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The NORINCO Group is invited by CM Sindh to explore opportunities.

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5 days ago

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Chinese companies have been invited by Sindh Chief Minister Syed Murad Ali Shah to visit Karachi and other regions of Sindh Province in order to observe the quickly growing businesses and investigate prospects in fields like clean energy, infrastructure development, and public transit projects.

Speaking in Beijing to a delegation headed by the chairman of NORINCO International Co., Ltd., he stated that all facilities required would be provided by the governments of Sindh Province and Pakistan.

With assistance from NORINCO International, the Sindh Chief Minister stated that the Provincial Government will firmly urge North Vehicle and BeiBen to think about setting up a Vehicle Assembly Plant in the Dhabeji Special Economic Zone.

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A deal with Pakistan to fight financial crimes has been approved by the Saudi cabinet.

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In order to strengthen collaboration in the fight against money laundering, terrorist financing, and associated crimes, the Saudi Press Agency announced this week that the Saudi cabinet, led by Crown Prince Mohammed bin Salman, had approved a memorandum of understanding (MoU) with Pakistan’s Financial Monitoring Unit (FMU).

Due to its severe money laundering and terrorism funding issues in recent years, Pakistan was added to the Financial Action Task Force’s (FATF) grey list in June 2018.

The nation was taken off the gray list in October 2022 after enacting extensive measures to fortify its financial system.

The FMU is Pakistan’s financial intelligence unit, created under the Anti-Money Laundering Act of 2010 and tasked with collaborating with foreign partners and evaluating reports of suspicious transactions.

According to the SPA, “the cabinet approved a memorandum of understanding regarding cooperation in exchanging investigations related to money laundering, terrorist financing, and related crimes between the Financial Monitoring Unit in the Islamic Republic of Pakistan and the General Department of Financial Investigation at the Presidency of State Security in the Kingdom of Saudi Arabia.”

The MoU is an indication of Saudi Arabia and Pakistan’s growing strategic partnership. A significant Pakistani diaspora resides in the Kingdom, and numerous Pakistani businesses have established a presence there.

Saudi Arabia has been a key supporter of Pakistan’s economy, bolstering its reserves with substantial deposits in the State Bank of Pakistan and offering deferred oil payment facilities.

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