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Tag: electric vehicles

  • Locally manufactured two-, three electric wheelers proposed 1pc sales tax for seven years

    Locally manufactured two-, three electric wheelers proposed 1pc sales tax for seven years

    ISLAMABAD: All two and three wheelers manufactured under Electric Vehicle Policy will sold at less than one percent sales tax for next seven years to bring the purchase price of EVs down, according to the policy.

    However, all two and three-wheeler EV’s imported shall be sold at one percent sales tax for the next five years.

    EVs will be exempted from registration fees and annual token tax to encourage prospective buyers and the FBR shall evolve a policy to evolve tax incentives for prospective buyers of the two-wheeler and three wheelers.

    All existing incentives of the Auto Development Policy 2016-2021 will remain intact, according to EV Policy 2019.

    The policy said that Pakistan had a large market of two and three wheelers. More than twenty million such vehicles are already on roads in Pakistan.

    Their local production has reached indigenization of more than 90 percent. Therefore, the need is to incentivize the already available manufacturing expertise for converting to e-bikes and e-rickshaws.

    Moreover, a new category of low speed electric vehicles have emerged that is added into this category.

    The policy said that EV specific parts and components, not being manufactured locally compliant to UNECE 1958 Agreement ‘WP.29’ standards as well as equivalent international standard applied by the United States, European Union and other major EV manufacturers, will be allowed import at one percent customs duty and one percent sales tax for the next two years.

    Registration number plates of EVs will have a distinct color/design to create EV specific zones in high density areas. The registration number plates will be different from other typical vehicles to distinguish between two, three and low speed four wheel electric vehicles and other vehicles segments.

    A special provision for import of swappable battery-based three wheelers is being introduced to help both introduction of such vehicles and charging infrastructure.

    Those manufacturers or consortia who demonstrate setup of manufacturing of these units and battery swapping infrastructure of running of these vehicles will be allowed to import a cumulative number of 20,000 completely built units (CBU) along with the charging infrastructure at one percent customs duty and can sell these units at one percent sales tax.

  • Electric vehicles to reduce 60pc fuel cost: Amin Aslam

    Electric vehicles to reduce 60pc fuel cost: Amin Aslam

    KARACHI: The use of electric vehicles will reduce fuel cost by 60 percent and it will also resolve environmental issues caused by pollution, Malik Amin Aslam, Advisor to Prime Minister for Climate Change, said on Thursday.

    Addressing at a press conference, Amin Aslam said that the government had approved first ever Electric Vehicle Policy and the industry would start working soon.

    “The owners of motor cycles, three-wheelers and buses can reduce their monthly fuel cost by 60 percent with uses of electric vehicle technology,” he said.

    He said that on Saturday he would meet the Prime Minister and after that meeting the electric motor vehicle industry would start operation.

    The modern technology will help the country to save around $2 billion foreign exchange, which are being spent on oil import.

    He said that the country had facing environmental issues. He said that such projects would be successful for clean environment such as in Lahore city.

    He said that the electricity generation in the country had improved.

    The country is facing large import bill especially for oil import bill. He said in case 30 percent vehicles converted to electric mechanism than the country will able to save around $2 billion.

  • Electric vehicles to help in saving $2 billion oil import payment: adviser

    Electric vehicles to help in saving $2 billion oil import payment: adviser

    ISLAMABAD: The launch of electric vehicles in the country will help the country to save around $2 billion foreign exchange, which is spend on annually on oil import, Malik Amin Aslam, Prime Minister’s Adviser on Climate Change, said on Thursday.

    Besides, adopting electric vehicle, the consumers could save over 30 percent cost of vehicle maintenance, because these do not require petrol or gas, no engine oil and driving them is highly comfortable, and affordable.

    Addressing a press conference on Thursday along with private electric vehicle manufacturing stakeholders/investors, he told media that introduction of electric vehicles in Pakistan following the EV policy, which was framed after consultation with all relevant stakeholders from government and non-governmental sectors, are going to be a big change for the people to switch from fuelling at the pump to fuelling at an outlet.

    He said that electric vehicle (EV) Policy would help revolutionize overall transport sector of the country in coming years and urban outlook with introduction of better, sustainable and environmental-friendly transport facility.

    He also said that this policy, which has been approved by the Cabinet this year on November 5, would also significantly help boost pollution-free transport facilities in the country in a way that are not harmful to environment and do not emit any smoke and cause noise pollution.

    From the running costs of electric cars to being very environmental-friendly, introduction of electric vehicles in the country will help cut country’s oil import bill, yield countless benefits for both environment and the people and their overall lifestyle and the way our cities look, the adviser said.

    “Electric vehicles do not emit vehicle emissions and these are cleaner, do not cause noise pollution and eliminate your fuel costs. Besides, EVs are fun to drive and these have instant torque and offer a very smooth ride,” he explained while counting on the benefits of the electric vehicles.

    The adviser Malik Amin Aslam noted that periodic trips to the gas station to fuel up your car are considerably expensive and time consuming for the people, particularly when the ever-fluctuating price of gasoline is high.

    However, by choosing an electric vehicle, one can forget about paying for gasoline and being at the mercy of fuel prices.

    “Not only is electricity less expensive than gasoline, it also has a much more stable price point, meaning that rapid price swings are all but eliminated by going electric,” he further explained.

    Malik Amin Aslam stated that humans have historically had a very negative impact on our environment. “Carbon dioxide emissions from traditional vehicles contribute to greenhouse gases in the atmosphere and accelerate climate change and overall environmental degradation and hurt public health. Conversely, all-electric vehicles don’t produce climate change-causing carbon dioxide into the atmosphere, when any of us drives them.

    Besides, hybrid electric vehicles use their battery to greatly improve the distance you can travel with a gasoline-powered engine,” he elaborated while highlighting environmental benefits of the electric vehicles.

    Given the backdrop, switching to an electric vehicle is one way to reduce further damage to the earth, cut individual carbon and transport sector’s footprints, the prime minister’s adviser on climate change.

    He said that with implementation of electric vehicle policy of Pakistan, a new economic sector will emerge, introducing a new electric vehicle producing industrial sector and thousands new jobs.

    Talking about electric public transport system, he told media that as part of the policy goal, provincial governments are being approached to usher in launch mass transit system in urban areas, under which electric buses would be introduced to provide pollution, noise-free, comfortable and cheaper transport facilities to the masses, particularly women.

    For this, federal government would provide every possible help to the provincial governments to introduce such mass transit system, Malik Amin Aslam added.