A new startup business has announced that it will produce 8,000 electric motorcycles in Pakistan, with pricing starting at Rs. 450,000.
This announcement was reported in a story by The News on Tuesday. This development comes in response to the continuous rise in petrol costs in Pakistan. Zyp Technologies has secured $1.2 million in seed financing, with Indus Valley Financing, an early-stage venture capital fund that invests in Pakistani entrepreneurs, serving as the lead investor.
To meet the demand from both business clients and private buyers, they have also established an assembly line capable of producing up to 8,000 motorcycles annually. Future electric motorcycle models will be priced between Rs. 150,000 and Rs. 450,000, depending on the model. The business plans to install a total of 4,000 charging stations nationwide. These solutions enable motorcycle fleet operators to save up to 70% on gasoline expenses and reduce air-polluting emissions, thereby making their businesses environmentally sustainable and profitable, especially in light of Pakistan’s escalating fuel prices and the impacts of climate change.
The price of petrol and gasoline has recently increased by more than Rs. 14 per liter, exceeding the 300 mark, due to actions taken by the caretaker government. According to the Finance Division, this increase is attributed to “rising trends in fuel prices in the worldwide market and currency exchange rate fluctuations.” Currently, the cost of petrol stands at Rs. 305.36 per liter, while the cost of high-speed diesel (HSD) is Rs. 311.84 per liter.
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