The Engineering Development Board (EDB) called a meeting last week with the CEOs of major local automakers, including Hyundai Nishat, to review recent pricing rises.
Before the meeting, EDB instructed the firms to present their cost structures and justifications for price increases. Only a couple of the eleven automakers volunteered their information, and the Ministry of Industries and Production (MoIP) objected strongly. The following are the new pricing, which are effective immediately:
The rate of price increases is far faster than the rate of increase in the US Dollar (USD) versus the Pakistani Rupee, according to the report (PKR). Automakers responded by claiming that increases in other operating costs have also led to price increases.
They pointed out that a freight container that used to cost $3,000 now costs $6,000, as well as rising raw material costs.
Finally, MoIP instructed the remaining firms to submit their cost structures within two days. It said that a follow-up meeting will be held soon in this respect.
Porsche Is Investing Heavily On Electric Vehicle Batteries
May 5, 2022 / By Zunair Tahir / Automotive News
Porsche intends to expand its electric vehicle (EV) manufacturing with more efficient batteries. Group 14 Technologies, a US-based firm known for its revolutionary contributions to lithium-silicon battery technology, has received $100 million in a series C fundraising round from the German automotive giant. Group 14 is actively working on worldwide plans to manufacture anode materials for lithium-ion batteries.
The business plans to use the funding to develop high-quality, commercially accessible battery cells. These cells are thought to have uses in small-scale manufacturing, motorsports, and high-performance cars.
The anodes, according to Group 14, can store 50% more energy than traditional electric car batteries. A joint venture is anticipated to begin mass manufacturing in 2024. Porsche isn’t the only company that has invested in Group 14, with a total of $400 million invested in the battery producer.
For a long time, the electric vehicle industry has relied primarily on Li-ion batteries. Despite having a well-established supply-and-demand relationship, Li-ion is under danger from more efficient alternatives. Carmakers have been digging for new ideas in a quest to reduce production costs and make electric vehicles more accessible and lucrative.
For firms like Porsche, who want a piece of the newly formed market, luxury EV racing has been a ferocious battleground.
Porsche will be able to tap into the untapped potential of new technology thanks to the $100 million investment. Porsche has previously released the Taycan, a completely electric vehicle that has become one of the most popular premium electric vehicles on the market.
Hyundai Elantra 1.6L Is Set To Debut In Pakistan This Month
April 15, 2022 / By Zunair Tahir / Automotive News
By the end of April 2022, Hyundai Nishat Motors Private Limited (HNMPL) plans to debut the Hyundai Elantra 1.6L model in Pakistan. New Hyundai Elantra model will be released before Eid-ul-Fitr, although the business has yet to declare a specific date.
Hyundai will launch a 1.6L Elantra version, according to our sources. In March 2021, Hyundai debuted the Elantra in Pakistan. It’s a mid-size car that competes with the Toyota Corolla Grande and Honda Civic in the C category. Elantra had a favorable reaction for a newcomer and quickly became a favorite among many. Hyundai Elantra sales surged by 186 percent from January to February 2022.
Encouraged by the strong reaction, Hyundai has chosen to introduce the Elantra 1.6L in Pakistan. This implies that in the local market, this car will compete with the top-of-the-line Toyota Yaris and Honda City models.
It is likely to cost Rs.3.5 million when it is released (approximately). This may have an influence on Toyota Corolla Altis 1.6 X sales.
According to our sources, the new 1.6L Elantra has the same external design as the 2.0L Elantra. The headlights are identical tetra-LED headlights with DRL. Despite the exterior’s similarity, the inside has been upgraded. The 2.0L variant’s instrument cluster has been replaced. This model has a smaller infotainment display. The 8-inch infotainment display screen would be standard on the Elantra 1.6L.
The Hyundai Elantra 1.6L, like its 2.0L predecessor, would include a sunroof. The sunroof is not available on the top-of-the-line Yaris and City models. There are also rear AC vents, which contribute to the rear passengers’ comfort and elegance.
The Hyundai Elantra’s exact details are yet to be revealed. We’ll let you know as soon as we have more information. However, because it is a smaller, less expensive variant of the Hyundai Elantra 2.0L, expect fewer amenities. Meanwhile, let us know what you think of this 1.6L variant of the Elantra, which is already a hit in Pakistan.
Bookings For The Locally Assembled Haval H6 1.5T Begin On April 15th, With A Significant Price Reduction
April 14, 2022 / By Zunair Tahir / Automotive News
SWEL (Sazgar Engineering Works Limited) is preparing to introduce the locally manufactured Haval H6 1.5T in Pakistan, with reservations beginning on April 15, 2022. (Friday). In addition, the business has announced a significant price drop in Pakistan for the locally produced Haval H6.
Customers will be pleased to learn that SEWL is offering the domestically assembled H6 1.5T at a discounted price. The new Haval H6 1.5T pricing is:
The Haval H6 1.5T has a booking fee of Rs. 1,000,000 in Pakistan, and the business will begin taking reservations on April 15, 2022. (Friday). In the meanwhile, deliveries of the vehicle is scheduled to begin in October 2022. However, when a Provisional Booking Order is issued, the company will confirm the actual delivery date (PBO).
HAVAL H6 DETAILS:
The Haval H6 1.5T is powered by a 1.5L turbocharged engine that produces 174 horsepower and 230 Nm of torque and is connected to a 7-speed Dual Clutch Transmission (DCT) system with a Front Wheel Drive (FWD) drivetrain.
10.25-inch Touchscreen Infotainment
6-Way Electric Adjustable Driving Seat
Traffic Sign Recognition
4-Way Electric Adjustable Passenger Seat
Over Speed Warning
LED Fog Lights
Electronic Stability Program (ESP)
18-inch Alloy Wheels
Traction Control System (TCS)
Brake Assist (BA)
Adaptive Cruise Control
Dual Zone Auto AC with Rear Vents
Roll Movement Intervention
Car Location Function
SEWL has positioned Haval H6 1.5T near to mid-range crossover SUVs with a price between Chery Tiggo 8 and Hyundai Tucson. This will allow the H6 to compete with all SUVs in its category as well as those above it. What are your thoughts on the new Haval H6 1.5T, which is being produced locally in Pakistan?
Mashood Khan, chairman of the Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM), indicated last month that rising freight costs, rising raw material expenses, and the depreciation of the Pakistani rupee will continue to cause havoc on automobile pricing.
HNMPL, like a number of other automakers, will adopt the revised pricing in the following order:
Those who paid in full by April 5th, 2022, and expect delivery in June will be charged the previous price.
Those who paid in full before April 25th, 2022, and expect delivery in May or June, will face a 50% price increase.
Those who order new Elantras after April 5, 2022, will be charged the full price hike.
He, like numerous others, pointed to the current Ukraine-Russia war as a major impediment to global commerce and a contributing factor to the looming catastrophe. More price spikes are likely in the future, based on these details.
What is Causing Pakistan’s Automobile Costs to Rise?
April 1, 2022 / By Zunair Tahir / Automotive News
The government instructed an automotive monitoring committee to conduct a forensic study of recent price spikes in various car models across the board on Thursday.
Members of the committee were requested to choose neutral professional experts for the forensic study during a high-level meeting chaired by Federal Secretary for Industries and Production Jawad Malik, and the report should be presented within two weeks.
The ministry has directed a monitoring group to conduct a comprehensive investigation of the recent increase in automobile prices.
Industry participants tell the ministry about the reasons for late deliveries and manufacturing capacity.
The car industry has been asked to submit a localization strategy by the federal secretary.
PEUGEOT Officially Launches Operations in Pakistan
March 3, 2022 / By Maaz Abbasi / News Pakistan
PEUGEOT Officially Launches Operations in Pakistan
PEUGEOT begins operations in Pakistan for the first time through its exclusive partner Lucky Motor Corporation.
In order to enhance employment, localization, and the local automotive sector in Pakistan, a partnership to support the establishment of state-of-the-art assembly facilities is being formed. The release of the locally made PEUGEOT 2008 will be the first stage in the relationship.
Peugeot Launching Ceremony Video
Karachi, 12 March: With its exclusive partner Lucky Motor Corporation, the European vehicle manufacturer PEUGEOT has officially commenced operations in Pakistan for the first time in its illustrious history. The collaboration began with the opening of eight 3S stores in six cities, as well as a state-of-the-art automobile assembly plant in Pakistan.
Lucky Motor Corporation is a subsidiary of the Younis Brothers Group, with a five-decade history of earning significant market share in the Pakistani automobile sector and setting new standards in terms of product offering and customer service. With the launch of PEUGEOT, the firm now aspires to give the greatest mobility options that a European brand can supply to its clients.
For over 211 years, PEUGEOT has been a pioneer in the automobile industry, guided by its brand values of Allure, Emotion, and Excellence, which reflect crisp design, intuitive driving enjoyment, and uncompromising quality. These ideals will be preserved as the brand tries to supply the market with the newest technologies and mobility solutions with its debut into Pakistan.
“We are happy with this cooperation and what it represents for the Pakistani market,” said Linda Jackson, CEO of the PEUGEOT Brand. This will be the first time a European automobile is produced in Pakistan, and we’re looking forward to collaborating with Lucky Motors to help the country’s automotive sector grow. PEUGEOT is focusing on internationalization, with the B and C segment SUV growth being a significant potential for us. This is also supported by the country’s evolving policy toward electrification, which aligns with our own approach.”
“We are pleased to begin on this adventure in Pakistan with our new partner, Lucky Motor Corporation,” said Samir Cherfan, Chief Operating Officer, Middle East & Africa Region, Stellantis. PEUGEOT has a lot of promise and opportunity in Pakistan, and we’re excited to serve clients in this dynamic market. I’d want to take this opportunity to congratulate Mr. Muhammad Ali Tabba and Mr. Asif Rizvi for making this cooperation possible, and I’m excited to see both parties’ rise in the country.”
“Lucky Motors is ready to transform the automotive landscape of Pakistan by bringing Peugeot, the first domestically built European brand in the nation,” stated Asif Rizvi, Chief Executive Officer of Lucky Motors Company. We’re thrilled to be working with Peugeot, and we’re looking forward to being linked with Stellantis, a company that firmly believes in innovative mobility solutions.
Pakistan, with its 220 million people, presents a fantastic potential for someone to enter the industry and disrupt it. And there’s little question that Stellantis, with its 14-brand portfolio, will be the one to achieve it. Lucky Motors is pleased to be the first firm in Pakistan to manufacture and sell many brands. We are excited to begin on this journey, providing the greatest automotive solutions to Pakistan while simultaneously making significant contributions and investments to help the country’s economic and social growth.”
The release of the PEUGEOT 2008 will be the first stage in this continued commitment to the Pakistani client. With its distinctive appearance, superior technology, and economical powertrains, the acclaimed 2008 has been a success story for the brand from its conception and distinguishes out in the compact SUV sector. It also has The PEUGEOT i-Cockpit, which has a thrilling interior design as well as a cutting-edge digital cluster and touchscreen to enhance any driving experience. The 2008 is the ideal model for Pakistani families, with 26 international awards, including the Red Dot Design Award, and a high perceived quality and value.
The e-2008 will be the next model to be released, and due to the Multi Energy Platform CMP, consumers will be able to select between a 100% electric and a thermic version. Lucky Motors Corporation will construct a variety of models locally at state-of-the-art facilities, with help from PEUGEOT, and is now investigating prospects to market numerous models by early next year.
To find out more about PEUGEOT’s operations in Pakistan, please visit: