Amid rising petrol prices in Pakistan, a new start-up business has claimed that it will produce 8,000 electric motorcycles in the country, with pricing starting at Rs450,000.
Zyp Technologies has raised $1.2 million in seed money from Indus Valley money, an early-stage venture capital fund that invests in Pakistani entrepreneurs.
It has also set up an assembly line capable of producing up to 8,000 motorcycles per year to fulfil the demands of businesses and individual consumers.
The price of upcoming electric motorcycles would range from Rs150,000 to Rs450,000, depending on the model. In addition, the business intends to build 4,000 charging stations around the country.
With climate change and growing fuel prices in Pakistan, the solutions enable motorcycle fleet operators to save up to 70% on gasoline expenses while eliminating air pollution, making their operations environmentally sustainable and profitable.
In recent days, the caretaker administration raised fuel and diesel prices by more than Rs14 per litre, pushing them beyond the Rs300 level.
According to the Finance Division, the increase was caused by the “increasing trend of petroleum prices in the international market and exchange rate fluctuations.”
The current price of petrol is Rs305.36 per litre, while the price of high-speed diesel (HSD) is Rs311.84 per litre.