With most bike assemblers looking towards China for collaboration within the local assembly of electrical bikes (e-bikes), a Punjab-based assembler claims to possess introduced an indigenous model within the market that’s also cheaper on the wallet.
“We have introduced the JE-70 e-bike with our indigenously developed technology. No foreign funding, no venture with the Chinese or any country within the world,” said Mohammad Usman Sheikh, the CEO of Jolta Electric, during a conversation with Dawn on Monday.
Last week, Prime Minister Imran Khan launched Jolta’s JE-70 model at a ceremony held in Islamabad. The locally developed e-bike is priced at Rs82,500 and features a maximum regulation of 60 km per hour.
The government is reported to possess received 17 applications from various investors for the local assembly of e-bikes in Pakistan.
Without mentioning the entire investment within the production line at Lahore’s Sundar Industrial Estate, the CEO said he couldn’t tell what percentage of e-bikes had been booked thus far after the launching last week. “An overwhelming response was received from new buyers,” he said confidently.
Upbeat CEO says overwhelming response received from buyers
“Students, teachers, and courier companies have shown their interest within the e-bike,” he said, adding that folks within the interior of Sindh and Punjab are keen on the model given their movement of the short distance of 15-20 km between towns and villages.
“The e-bike needs an overnight charging of 1.5 units reception which is sufficient for 80km ride. The bike will only cost Rs1,000 per month on consumers’ wallets as compared to Rs4,000-5,000 on a petrol-driven 70cc bikes. An e-bike owner will save a minimum of Rs4,000 per month,” he added.
The plant is rolling out 1,000 e-bikes per month. the corporate intends to boost the assembly to six,000 units per month by December, followed by 100,000 units per month within the next five years. “We are getting to usher in four more models within the assembly line this year. the corporate also has plans to unveil three-wheelers, loaders, and heavy vehicles,” Mr Sheikh said.
Currently, a dry EV battery is getting used which costs around Rs20,000 and features a lifetime of two .5 years. However, the corporate is getting to shift to lithium batteries in other locally-assembled models within the next three to four months which might cost more.
He said the government’s incentives like one percent general nuisance tax and 1pc duty on electric specific parts have attracted tons of interest among new investors. “However, if an equivalent low-priced bike is imported despite duty and tax incentives, it might carry a tag of Rs100,000 as compared to Rs82,500 of JE-70,” he summed up.