A Look Back at 2024: EV Launches in Pakistan

Jawad

20 Dec 2024

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A Look Back at 2024: EV Launches in Pakistan

As 2024 wraps up, it’s time to review the vehicles that entered the Pakistani market this year. The focus leaned heavily on electric and hybrid models, signaling a shift in consumer preferences and manufacturers' alignment with global trends. From affordable options to premium choices, buyers witnessed a variety of vehicles catering to diverse needs, marking a significant step forward in cleaner transportation.

March 2024: Hyundai IONIQ 5

Hyundai IONIQ 5 (PKR 20.5 million)

Hyundai introduced the IONIQ 5 as a high-end electric vehicle (EV), priced above many competitors. Known internationally for its long driving range and advanced engineering, the IONIQ 5 targeted a niche market in Pakistan. Its hefty price tag appealed to buyers seeking exclusivity and quality. Although unlikely to dominate sales, Hyundai aimed to showcase its potential and set a benchmark for luxury EVs in the local market.

Mid-Year Entries: Honri Ve and Gugo GIGI

Honri Ve (PKR 3.9 million)

Launched in June, the Honri Ve entered the market as a budget-friendly EV option for upper-middle-class buyers. Despite being a new name in the local market, it hinted at rising competition, encouraging brands to offer better features and after-sales services. With its compact design and all-electric appeal, it attracted buyers looking for an alternative to traditional vehicles in the same price range.

Gugo GIGI (PKR 3.9 million)

July saw the arrival of Gugo’s GIGI, priced similarly to the Honri Ve. It offered an urban commuting solution, especially for those exploring cost-effective electric options amid rising fuel costs. The GIGI added diversity to the EV lineup, giving buyers more choices within an affordable range.

August 2024: Premium Additions by Deepal and BYD

Deepal S07 (PKR 10.5 million) & Deepal L07 (PKR 10.4 million)

Deepal unveiled two luxury EVs in August, showcasing features comparable to high-end German brands but at a fraction of the cost. These models offered exceptional comfort, performance, and value for money, challenging perceptions about Chinese vehicles in the premium segment.

BYD Seal (PKR 10.5 million)

BYD , renowned for its battery expertise and global reputation, launched the Seal model. Positioned as a Tesla competitor, BYD capitalized on its affordable yet reliable battery technology. The Seal further solidified BYD’s influence in the EV market, appealing to consumers seeking premium features at competitive prices.

September to November: Expanding EV Options

ORA 07 (PKR 10.75 million) & ORA 03 (PKR 9 million)

In September, ORA introduced two models targeting different price segments. While the ORA 07 appealed to premium buyers, the ORA 03 catered to a slightly more accessible range, offering variety and quality interiors to attract a broader audience.

BYD ATTO 3 (PKR 9 million) & KIA EV5 (PKR 20.35 million)

October saw BYD’s ATTO 3 strengthen its local lineup with a mid-range offering, while KIA introduced the EV5. At PKR 20.35 million, the EV5 aimed to make EV ownership more approachable for buyers transitioning to electric vehicles.

Seres 3 CKD (PKR 8.3 million)

Closing the year, Seres launched its 3 CKD model in November. Priced at PKR 8.3 million, it catered to buyers seeking reliable EVs within the 8-10 million bracket. Offering modern architecture and competitive build quality, the Seres 3 highlighted the evolving market potential.

Conclusion: A Year of Growth and Variety

2024 was a transformative year for Pakistan’s automotive market, with numerous EV and hybrid launches catering to various consumer needs. From budget-friendly options to luxury models, the market has grown significantly, reflecting global trends and setting the stage for further innovation in the years to come.

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