Technology firm develops electric kits for bikes

Aims to capitalise on opportunities arising in wake of EV policy

LAHORE: Following the recent approval of electric vehicle policy by the federal cabinet, businessmen are aiming to capitalise on the emerging opportunities in the market to gain the first-mover advantage.

A domestic technology company has introduced electric kits for locally assembled motorbikes, claiming that they will be cost-effective and easy to use.

Interacting with the media on Monday, company officials were of the view that an electrical revolution was on the cards in Pakistan and their locally designed technology would cater to 70cc and 125cc bike segments.

Bike prices jump up to Rs6,000

“It is a readymade solution designed for the local two-wheelers and can be used in second hand as well as new bikes,” said Jolta Electric co-founder Raheel Iqbal while talking to The Express Tribune.

He pointed out that the company had been working on the product for the past three years and now it became the first technology company in Pakistan that produced locally designed e-bikes, which would run on electrical energy. These bikes will not have parts like lever, oil chain and gear.

According to the company, which is a sister concern of AUJ Technologies, it produces all parts of e-bikes locally including battery systems and chargers. However, the components for manufacturing the engine are currently being imported.

It is simultaneously producing electric cycles and aims to introduce kits for rickshaws and cars as well.

Welcoming the recently announced electric vehicle policy, the company management said it was focusing on gaining a mammoth share in the electric vehicle market by 2030.

Use of low-grade fuel in bikes to help slash import bill

“According to estimates, there are 20 million motorbikes running on roads in Pakistan, of which the share of 70cc segment is around 80% and that is our target market,” the co-founder said. “By 2030, we are aiming to achieve not less than 30% share in the electric vehicle segment in Pakistan.”

The electric vehicle policy is aimed at turning at least 30% vehicles to electricity in a bid to make Pakistan an environment-friendly country. Proper infrastructure is likely to be constructed by the stakeholders such as charging stations to support the initiative.

However, the current stakeholders in the automobile sector have expressed their dismay over the policy as they feel they have been ignored while preparing the final draft of the policy.

The official stressed that the company was not concerned if another policy was introduced by the government in future. “Any change in the automotive policy will not affect us,” he remarked. The company claims that monthly expense of a bike owner will be well below Rs1,000, however, the speed will matter in keeping the cost down.

“Charging will erode faster if the driver drives the motorbike at a higher speed,” he said. “The ideal speed will be 40 km per hour and this will give a mileage of around 80 km in a single charge.”

The battery charging will take around seven hours, according to officials of the company. “The price of an electric kit is Rs55,000 for 70cc and Rs85,000 for 125cc bikes,” he added.

Published in The Express Tribune, November 12^th, 2019.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.