MG reduces price of ZS electric vehicle by Rs600,000
- The all-electric SUV will now cost Rs6.25 million against its previous price of Rs6.85 million
The much-awaited Auto Policy 2021-2026 has already begun to yield results as Morris Garage (MG) Pakistan announced that it has reduced the price of its ZS electric vehicle (EV) by Rs600,000.
With the downward revision, the all-electric SUV will now cost Rs6.25 million against its previous price of Rs6.85 million.
The company officially notified the new prices through its Twitter handle. It said that the updated prices also apply to cars that have already been imported, and those who had paid the amount in full will receive a cashback.
Pakistan targets automobile production of 300,000 in FY22
“MG thanks Govt of Pakistan for their outlook for EVs allowing us to facilitate our fans. We have revised the price to PKR 6,250,000 on all bookings of ZS EV," the tweet said.
The policy that envisages massive tax exemptions for the auto sector was put forward through budgetary proposals last month.
MG Motors reopens booking for HS variant, but increases price by Rs300,000
Some of the features as shared by Minister for Industries and Production Makhdum Khusro Bakhtyar in a press conference on Wednesday include a phased transition of the automobile industry with more emphasis on the production of two and three-wheelers and Heavy Commercial Vehicles (HCVs) providing incentives to manufacturers.
Some of the features are:
Additional customs duty and AST removed on import of EV cars
Only 1% tax on import of EV parts
No registration and an annual fee for EVs in Islamabad
1% sales tax for locally made EVs up to 50kwh and light commercial vehicles up to 150 kwh.
Only 1% Duty on import of charging equipment
No Federal Excise Duty (FED) on Electric Vehicles
Duty-free import of plant and machinery for manufacturing of EVs
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