Business

Top four budget-friendly electric vehicles to look for in 2024

Published

11 months ago

Farwa

As the electric vehicle market expands, car enthusiasts on a budget can now explore a range of affordable options in 2024.

Here are the top four cost-effective electric vehicles (EVs) that promise both sustainability and economic value:

1. Nissan Leaf (starting at $28,140)

Nissan Leaf (starting at $28,140).—Treehugger

The veteran Nissan Leaf, introduced in 2010, remains a compelling choice with a wallet-friendly starting price. Despite its long tenure in the EV world, the Leaf retains its charm and practicality. For safety-conscious buyers, it boasts a 5-star overall safety rating from the National Highway Traffic Safety Administration (NHTSA).

2. MINI Cooper SE Electric (starting at $30,900)

The MINI Cooper SE Electric preserves the iconic design of its gas-powered counterpart, delivering a unique electric driving experience. With a swift 0-60 mph acceleration in under seven seconds and favorable ownership ratings, it stands out as an affordable and stylish option.

3. Hyundai Kona Electric (starting at $32,675)

The revamped 2024 Hyundai Kona Electric showcases a captivating design and improved features. The base SE model offers a commendable 200-mile range, while higher trims extend that to an impressive 261 miles. Hyundai’s standard 10-year/100,000-mile powertrain warranty adds an extra layer of confidence for potential buyers.

4. Chevrolet Equinox 1LT (starting at $34,995)

Positioned as GM’s affordable EV, the Chevrolet Equinox 1LT enters the market as a worthy successor to the discontinued Chevrolet Bolt. Expected to hit showrooms in mid-2024, this model boasts an estimated 319-mile range on a full charge and accelerates from 0-60 mph in just 5.9 seconds. Its competitive pricing and performance make it a compelling option.

Important consideration for EV buyers

While these EVs offer affordability in terms of purchase price, prospective buyers should be mindful of insurance costs. Electric vehicles often come with higher insurance premiums due to longer repair times and the expense of battery packs.

To optimise insurance expenses, it’s advisable to compare policies and explore bundling options with renters or homeowners insurance for potential premium reductions.

Business

Irfan Siddiqui meets with the PM and informs him about the Senate performance of the parliamentary party.

Published

1 day ago

Farwa

The head of the Senate’s Foreign Affairs Standing Committee and the PML-N’s parliamentary leader paid Prime Minister Muhammad Shehbaz Sharif a visit in Islamabad.

Senator Irfan Siddiqui gave the Prime Minister an update on the Parliamentary Party’s Senate performance.

Additionally, Senator Irfan Siddiqui gave the Prime Minister an update on the Senate Standing Committee on Foreign Affairs’ performance.

He complimented the Prime Minister on his outstanding efforts to bring Pakistan’s economy back on track and meet its economic objectives.

Business

SIFC Increases Direct Foreign Investment: Investment in the Energy Sector Rises by 120%

Published

1 day ago

Farwa

The Special Investment Facilitation Council is intended to help Pakistan’s energy sector attract $585.6 million in direct foreign investment in 2024–2025. The amount invested at the same time previous year was $266.3 million.

This is a notable 120% rise, mostly due to investments in gas exploration, oil, and power. Such expansion indicates heightened investor confidence and emphasizes the development potential in important areas.

The State Bank reports that foreign investment in other vital industries has increased by 48% to $771 million.

This advancement is a blatant testament to SIFC’s efficient investment procedure and quick project execution.

The purpose of the Special Investment Facilitation Council is to establish Pakistan as an investment hub by aggressively promoting regional trade and investment in the energy sector and other critical industries.

Business

Discos report losses of Rs239 billion.

Published

1 day ago

Farwa

When compared to the same period last year, the data indicates that discos have decreased their losses in the first quarter of the current fiscal year.

The distribution businesses recorded losses of Rs239 billion in the first three months of the current fiscal year, a substantial decrease from the Rs308 billion losses sustained during the same period the previous year.

Additionally, the distribution businesses’ rate of recovery has improved. It has increased to 91% in the first quarter of this year from 84% in the same period last year, indicating success in revenue collection.

Regarding circular debt, the Power division observed a notable change. Last year, between July and October, the circular debt grew by Rs301 billion. Nonetheless, this year’s first four months saw a relatively modest increase in circular debt, totaling about Rs11 billion.

These enhancements show promising developments in the electricity sector’s financial health in Pakistan, where initiatives are being made to accelerate recovery rates and slow the expansion of circular debt.