ISLAMABAD: Amid rising petrol prices in Pakistan, a new start-up company has announced that it will manufacture 8,000 electric motorcycles in the country priced up to Rs 450,000, JEE News reported on Tuesday.
The company, Zyp Technologies, has raised $1.2 million as a seed investment led by Indus Valley Capital – an early-stage venture capital fund investing in Pakistani startups.
It has also set up an assembly line capable of producing 8,000 motorcycles annually to meet the demand of business customers and individual buyers.
The upcoming electric motorbikes will be priced between Rs 150,000 to Rs 450,000 depending on the variant. The company also plans to set up 4,000 charging stations across the country.
With climate change and rising fuel prices in Pakistan, this solution enables motorcycle fleet operators to save up to 70% on fuel costs and eliminate air polluting emissions, making their operations environmentally friendly. are sustainable and profitable.
In recent days, the caretaker government has increased the prices of petrol and diesel by more than Rs 14 per liter to cross the Rs 300 mark.
The finance division said the increase was due to “increasing trend in petroleum prices in the international market and changes in exchange rates”.
Currently, the price of petrol is Rs 305.36 per liter while the price of High Speed Diesel (HSD) is Rs 311.84 per litre.
