Electric bike demand surges amid costly oil

KARACHI: Amid the ongoing Middle East conflict since Feb 28, Pakistan’s auto sector is witnessing fresh developments, with a leading tractor assembler exploring electric bike production and new vehicle models planned by Chery Master Pakistan and Pak Suzuki Motor Company Ltd. In a stock filing, Millat Tractors Ltd (MTL), responding to market reports about its entry into the electric bike segment, said one of its group companies was evaluating the feasibility of EV bike production in Pakistan. It said the matter remained at a preliminary stage. Sharp increases in petrol prices have boosted demand for electric scooters and bikes, leading to market shortages and the emergence of “on money” on some models. Social media reports claimed EV bike assemblers had received an overwhelming response from consumers, with some companies reportedly selling more than 15,000 units in April, while others sold around 5,000 units. Assemblers eye expansion as shortages trigger premiums However, bike sector expert Mohammad Sabir Sheikh disputed these figures, saying over 30,000 electric bikes and scooters were sold nationwide during March and April. He said assemblers had opened more letters of credit in the past 15 to 20 days to import parts and accessories to meet rising demand. Short supplies had resulted in “on money” of Rs10,000 to Rs15,000 on some popular models, he added. Mr Sheikh said the situation could change if petrol prices returned to pre-conflict levels, but added that higher fuel prices had at least increased consumer awareness about electric bikes. Launch of hybrid, EV Chery Master Pakistan (CMP) is considering launching two to three new models for the local market, including the Tiggo 4 HEV, QQ BEV, and Tiggo V, reflecting Chery’s focus on hybrid, electric, and multi-purpose mobility solutions. CMP, introduced locally by Master Auto Engineering, part of the Master Group, signalled the possible introduction of new models after its participation in Auto China 2026. CMP Chie