Pakistan’s largest tractor manufacturer, Millat Tractors Limited, has stated that it is evaluating the possibility of producing electric motorbikes in the country.
According to the company, the proposal remains at a preliminary stage and no final decision has yet been made.
The disclosure was made in a statement submitted by Millat Tractors Limited to the Pakistan Stock Exchange on Thursday.
The company clarified that, in response to reports circulating on social media and within the market, one of its group companies is currently conducting a feasibility study regarding the production of electric motorcycles. However, it emphasised that the project remains in the early stages of research and evaluation.
The development comes at a time when demand for electric bikes in Pakistan is increasing rapidly, largely driven by rising petrol prices.
According to motorcycle dealers and industry experts, approximately 40,000 units were sold across the country during April, of which around 90 per cent were electric scooters and 10 per cent electric motorbikes. However, industry observers believe that actual market demand is significantly higher.
Meanwhile, the government last week announced a further increase in petroleum prices, raising the price of petrol by Rs6.51 per litre, while high-speed diesel became more expensive by Rs19.39 per litre.
Under the revised rates, the price of petrol increased from Rs393.35 to Rs399.86 per litre, while high-speed diesel rose from Rs380.19 to Rs399.58 per litre.
Millat Tractors Limited, established in 1964 as a public limited company, is engaged in the manufacturing and sale of tractors, diesel generators, prime movers, diesel engines, and forklift trucks.
In addition to its domestic operations, the company is also involved internationally in the sale, implementation, and support of Industrial and Financial Systems (IFS) software. As of 30 June 2024, the company’s annual production capacity was reported to be approximately 30,000 tractors on a two-shift operational basis.
