ISLAMABAD: Regal Automobiles Industries Ltd, a trailblazer in Pakistan\u2019s automotive sector, has made history with the unveiling of the country\u2019s first locally assembled electric SUV, the Seres 3. Adeel Usman, Managing Director of RAIL, highlighted that the Seres 3 would redefine the local automotive landscape, positioning the nation as an emerging hub for electric mobility innovation, China Economic Net (CEN) reported on Tuesday. Not long ago, Privatization Minister Abdul Aleem Khan announced that 30% of vehicles in Pakistan would be converted to electric by 2030, as the South Asian country takes step to combat air pollution and other climate change effects. DNA
\nThe minister was echoing the government\u2019s New Energy Vehicle (NEV) policy. Hybrid EV sales in Pakistan have more than doubled in the past year. BYD Pakistan, a partnership between China\u2019s giant BYD and Pakistani auto group Mega Motors, said in this September up to 50% of all vehicles bought in Pakistan by 2030 will be electrified in some form.
\n\u201cThe new vehicle policy is timely, addressing critical issues like the high oil import bill, underutilized power plants incurring capacity payments, and transportation-related smog and greenhouse gas emissions,\u201d told Dr. Naveed Arshad, associate professor and co-director of the LUMS Energy Institute.
\n\u201cUnlike the earlier policy a few years ago, the updated version is more robust, offering clear targets, tax breaks and government funding for EV projects.\u201d Dr Arshad added that traditional automakers must adapt to the changing electric vehicle landscape.
\nThe current business model relies heavily on after-sales services such as engine maintenance, which is incompatible with EVs due to their extremely low maintenance requirements. He suggested that automakers should turn to charging infrastructure, software R&D and other areas of innovation.
\nIn order to fully promote the energy transformation in the transportation sector, new policy emphasizes the establishment of extensive charging infrastructure across Pakistan. Charging stations will be installed in public areas and along major highways, and oil marketing companies are required to set up level 3 charging stations at 10% of their locations.
\nPrivate charging service providers will receive incentives such as tax exemptions, reduced land costs, and simplified licensing procedures to facilitate installation and power supply. In addition, an important aspect of the NEV policy is the focus on environmental protection.
\nIt introduces safety and recycling standards for batteries and components, while financial incentives will encourage companies to invest in the recycling field and recycling centers will be established across the country.
\nWhen asked about the potential dominance of Chinese NEVs in the market, Dr Arshad emphasized that \u201cthe policy aims to leverage China\u2019s strengths in EV technology to benefit Pakistan.
\nWhile Chinese brands may dominate initially, the policy emphasizes localized production, especially for smaller vehicles such as two-and three-wheelers. Such a targeted approach will increase exports while reducing reliance on imports.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD: Regal Automobiles Industries Ltd, a trailblazer in Pakistan\u2019s automotive sector, has made history with the unveiling of the country\u2019s first locally assembled electric SUV, the Seres 3. Adeel Usman, Managing Director of RAIL, highlighted that the Seres 3 would redefine the local automotive landscape, positioning the nation as an emerging hub for electric mobility […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-447264","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n