CORPORATE WINDOW: EVs — a luxury toy for now

One of every four cars sold worldwide is now an electric vehicle (EV). In Pakistan, grappling with still high interest and inflation rates, buying a car is a challenge, even if the vehicle is a traditional fossil fuel-powered car with an internal combustion engine (ICE). So the flurry of EV launches — a big ticket item at the best of times with a string of challenges — comes as a surprise. Perhaps the most excitement is around Chinese auto giant BYD, which plans to introduce new energy vehicles (NEV) in partnership with Mega Motor Co. Dewan Farooque Motors and Sazgar Engineering Works have also announced plans to wade into the EV sector. Given the lack of charging infrastructure and the dearth of mechanical understanding, green vehicles are rare and reserved for the uber-rich. Changan launched two EV variants of its brand Deepal with this exact strategy. “We are aiming for the top one per cent,” explains Danial Malik, CEO of Changan Motors, part of the Master Group.