Crown Group invests Rs2bn in electric vehicles plant

3
2032

KARACHI: Crown Group has recently organized a market testing and sales display of its exclusive range of CROWN Electric Vehicles which includes two, three and four-wheelers, which will enable users to drive 1km in just Rs1.25.

The electric vehicles will be locally manufactured at the group’s newly-built 26-acre Port Qasim facility. Having an initial production capacity of 120,000 units per annum, the group has already invested Ts 2 billion on the plant in the first phase.

Based on the yet to be announced EV Policy, which claims 1pc customs duty on CKD parts and 5pc sales tax, the company has set the display and testing price of the four-wheeler electric car at Rs400,000 whereas the display and testing prices for electric three-wheeler car and two-wheeler scooter was set at Rs300,000 and Rs55,000, respectively. Moreover, the three-wheeler rickshaw (two-in-one) comes in both electric and engine equipped with manual switching options at a display price of PKR 300,000 and 250,000 respectively.

Speaking on the occasion, Crown Group Chairman Farhan Hanif stated, “It is an honour for us to unveil the exclusive range of CROWN vehicles. The automobile and oil industries are currently facing numerous issues which are reflecting on the citizens of Pakistan. With this range of Electronic vehicles, we plan to overcome those challenges and present the industry with a variety of innovative, convenient and affordable vehicles for their everyday use”.

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