Over 100 e-bike assemblers to enter market
Approximately 138 new EV bike assemblers have adopted a wait-and-see policy but they will enter the market once there is more political and economic stability in the country. photo: FILE
Over 100 assemblers of electric bikes are expected to appear soon as electric vehicles (EV) are gaining more popularity among women, girls, varsity students and older people because of rising petrol prices, rates of spare parts and repair work charges following a skyrocketing inflation.
“More than 100 assemblers of electric bikes will come into the local market in the middle of 2024 while overshadowing petrol-version motorbikes; they are arriving late because of winter season in Punjab and China where there are lacklustre activities these days,” said Muhammad Sabir Sheikh, Chief Coordinator of the Electric Two Wheelers Manufacturing Group, while talking to The Express Tribune during a market survey.
“Customers-cum-riders have been divided and they seem more eager to purchase EV bikes with the latest and attractive models encompassing exciting features. Sales of petrol versions have dramatically decreased as customers are avoiding purchasing them and paying more attention to EV bikes,” said Sheikh, who is also an EV bike dealer in Karachi.
He said only original design EV bikes would be sold in future, while converted EV bikes would vanish soon, which had no future in the market.
“If the government supports the growing EV bike industry and the US dollar depreciates, prices of these bikes will decrease. Once prices fall, this industry will overshadow all other Japanese and Chinese petrol-version motorbikes.”
Sheikh pointed out that prices of EV bikes varied from Rs100,000 to Rs360,000 and those were being mainly purchased by girls, women, students of universities, old men and daily commuters to cut their fuel and maintenance charges ranging between Rs10,000 and Rs15,000 a month.
Leading Chinese companies and local brands, which have started to throng the local market with healthy competition, consist of Yadea, Eiffel Industries (Road Prince), Metro, Evee, Road Star, Benling, Crown Group, Aima, New Asia Ramza, Tailg, Union Star, Hi-Speed and others.
Read: Honda unveils its first electric motorcycle
Punjab-based EV bike assembler’s Sales Manager Ashfaq Hussain Awan recalled that a handful of EV bike assemblers, who had emerged in the market since 2016-17, faced lull during Covid-19 days.
However, he said, when petrol prices shot up over Rs300 per litre, many customers bought EV bikes but they soon had a poor experience because of substandard material and spare parts. That was an era of disaster for EV bikes when assemblers were mostly deploying poor batteries, motors and controllers.
“Now, leading and standard Chinese companies and local brands are being introduced in the market and customers trust them as 25% to 30% women and girls are buying these EV bikes,” he said, adding “we are trend developers as women and girls usually did not ride bikes earlier in the country but they are now seen riding on roads confidently.”
Another Lahore-based EV bike assembler’s business head Hamza Asad said his company’s electric scooters used to have 72V 20Ah lead dry batteries, but “now the company has improved quality with 60V 23Ah Graphene batteries”.
“Batteries of Graphene technology are much safer and far more reliable than lithium ones,” he said.
Ashfaq Hussain Awan claimed that approximately 138 new EV bike assemblers had adopted a wait-and-see policy but they would enter the market once there was more political and economic stability in the country. “The number of assemblers can go up to over 200 in 2024.”
Published in The Express Tribune, December 9th, 2023.
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