Electric Car Prices to Decrease Due to New Policy

Jawad

17 May 2025

120

Electric Car Prices to Decrease Due to New Policy

The federal government is on the verge of approving the much-anticipated New EV Policy next week, a major move aimed at accelerating the adoption of electric vehicles in Pakistan and supporting sustainable, clean transportation.

Officials reveal that the draft of the EV Government Policy, crafted by the Ministry of Industries alongside key industry stakeholders, has been submitted to the Prime Minister’s office. After approval, it will be forwarded to the federal cabinet for final confirmation and rollout.

The policy sets an ambitious goal to have Electric Vehicle Prices competitive enough to ensure that more than 30% of all new vehicle sales in Pakistan are electric by the year 2030.

To encourage adoption, the EV Policy Update includes several substantial financial incentives:

A subsidy of Rs. 50,000 for every electric motorcycle purchased
A Rs. 200,000 subsidy on electric three-wheelers (rickshaws)
A dedicated fund of Rs. 4 billion allocated for these incentives

Additionally, the policy promotes the expansion of EV infrastructure, including the development of electric vehicle charging stations nationwide to support the growing number of EV owners.

On Thursday, Haroon Akhtar Khan, Special Assistant to the Prime Minister, led a meeting with representatives from COMSATS focused on advancing electric vehicle technology. The discussions emphasized retrofitting existing motorcycles with electric systems to boost the availability of cheaper electric cars and bikes.

The meeting was attended by prominent figures such as Industries Secretary Saif Anjum, COMSATS Executive Director Nafees Zakaria, and Khuda Bakhsh Ali, CEO of the Engineering Development Board.

With these initiatives and EV tax incentives in place, experts expect a significant EV price drop that will make electric vehicles more affordable for consumers. This move is expected to bring a noticeable EV price reduction by 2025, opening the door for more widespread EV adoption and attractive electric car discounts across Pakistan.

Electric Vehicle Prices EV Price Drop New EV Policy EV Government Policy EV Prices 2025 Cheaper Electric Cars EV Tax Incentives Electric Car Discounts EV Policy Update EV Price Reduction

« PREV POST
Hi-Speed BLAZE 500: The New Choice for City Riders

NEXT POST »
International Driving License Facility Opens at Main Airport

Related Auto News Updates