BYD bookings open: electric vehicles priced between Rs8,990,000, Rs16,990,000,

BYD, a major player in the global New Energy Vehicle (NEV) sector, displayed its electric vehicle lineup in Pakistan through local partner Mega Motor Company (MMC) at the Pakistan Auto Show 2024 in Lahore.

At the event, BYD opened bookings for its ATTO 3 and SEAL models, expanding its reach into the Pakistani market.

MMC, backed by Hub Power Holdings Limited, a subsidiary of The Hub Power Company Limited (HUBC), also outlined its plans to assemble and distribute BYD vehicles locally, aiming to foster wider EV adoption in the country.

Hub Power Holdings Limited, BYD partnership

Hub Power Holdings Limited, which holds full ownership of Mega Motor Company, has diversified its investment strategy by entering Pakistan’s electric vehicle (EV) market. According to research analyst Abrar Polani from AHL, HUBC’s EV venture represents a strategic alignment with global trends favoring sustainable energy solutions. Polani explained that HUBC plans to launch local manufacturing of EVs and plug-in hybrids under a $200 million project slated for completion in 2026, with funding sourced through a mix of debt and equity.

Pakistan’s Mega Motor secures key partnership with global EV giant BYD

This venture’s core agreements involve a Master Supply & Manufacture Agreement and a Technical License Agreement between MMC and BYD Auto Industry Company Limited. These agreements allow MMC to manufacture, market, and distribute BYD-branded passenger EVs within Pakistan.

BYD ATTO 3 and SEAL models: features and price points

At the show, BYD introduced two flagship models aimed at addressing different consumer needs in Pakistan’s EV market. The ATTO 3 is an electric crossover SUV equipped with BYD’s proprietary Blade Battery technology, providing a range of approximately 410 kilometers per charge. Priced at Rs. 8,990,000, the ATTO 3 falls within the mid-to-high SUV segment, targeting buyers interested in EVs but seeking a competitive price point.

The SEAL model, a high-performance electric sedan, offers a driving range of 650 kilometers on a single charge and features an acceleration rate of 0 to 100 km/h in 5.9 seconds. It is available in two variants: the Dynamic, priced at Rs14,790,000, and the Premium at Rs16,990,000. Although these price points target upper-income segments, the SEAL’s specifications reflect its positioning as a high-end electric sedan within BYD’s offerings.

Usman Ansari, an automotive expert and founder of the industry news platform Carspirit.pk, remarked that BYD’s entry, particularly with the competitively priced ATTO 3, could attract consumer interest within its segment. However, he expressed reservations regarding the SEAL’s market potential, citing that the demand for vehicles at that price range may be limited in Pakistan, given the overall economic conditions and lower purchasing power.

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In addition to introducing new EV models, MMC has initiated plans to address essential infrastructure requirements that would support the broader EV adoption process in Pakistan.

In the coming weeks, MMC will offer test drives and facilitate bookings for both the SEAL and ATTO 3 through temporary showcase facilities in Karachi and Lahore. This follows the commencement of online bookings through MMC’s official website.

MMC aims to establish three BYD flagship showrooms in Karachi, Lahore, and Islamabad by year-end to support sales and services, marking a gradual expansion strategy aligned with building market confidence.

Local production and cost challenges

Dr Aazir Anwar Khan, Director at the Integrated Engineering Centre of Excellence at the University of Lahore, in a previous interview over the subject underlined the importance of affordable EV options in Pakistan, noting that high prices limit EV accessibility to wealthier consumers.

He explained that significant differences in import duties between completely built-up (CBU) and completely knocked down (CKD) units create an opportunity for cost reduction. While importing CBUs incurs approximately 35% in duties and taxes, CKD imports for local assembly are taxed at around 5%, offering a cost-effective pathway to make EVs accessible to a wider audience.

Dr Khan suggested an ideal price range for EVs in Pakistan to be between Rs2.5 million and Rs6 million, a level more in line with the budgets of the majority of Pakistani car buyers. Without affordability, he argued, EV adoption would remain limited to a small segment, thus undermining broader goals of reducing fossil fuel reliance and carbon emissions.

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Khan also contrasted BYD’s approach to that of other automakers, noting BYD’s exclusive focus on EVs as opposed to Toyota’s recent launch of a petrol variant of its Hybrid Corolla Cross. He emphasized that for EV companies like BYD, the priority should be on establishing affordable options to help achieve national environmental objectives, such as reducing fuel import bills and lowering emissions.

BYD’s global footprint and expansion in the EV sector

Founded in 1995, BYD has grown from a battery manufacturer to a global high-tech company with operations spanning automobiles, new energy, electronics, and rail transit.

The company’s international presence includes industrial parks across continents such as North America, Europe, and Asia. BYD’s automotive division, BYD Auto, established in 2003, focuses on electric and plug-in hybrid vehicles. Its consistent advancements in battery technology, such as the Blade Battery and DM-i Super Hybrid system, have positioned it as a leader in new energy vehicles.

BYD’s decision to cease the production of traditional gasoline-powered vehicles in favor of fully electric and plug-in hybrid models underscores its commitment to sustainability. Over the past decade, the company has maintained its status as the leading new energy passenger vehicle seller in China, expanding its market reach to over 95 countries and regions.

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