Thatta Cement enters EV market, affordable Chinese electric cars planned
A cement company is preparing to sell electric cars. Thatta Cement has announced its entry into the electric vehicles market with an intent to have a catch at the low budget customer group. Here what is known, and here what is not.
What did Thatta Cement Announce?
The company’s board decided to invest in a 100% subsidiary for electric vehicles. It made its announcement in a notice to Pakistan Stock Exchange (PSX) on Thursday. Thatta Power (Private) Limited is also owned by Thatta Cement.
What kind of cars is it planning?
Small, affordable ones. The company will never focus on the premium and niche EV segment, it said. It expects to appeal to the mass market by offering more affordable, smaller and compact EVs for a wider segment of consumers.
How Will the Cars Reach Pakistan?
Initially by importation. The subsidiary will first import full-fledged (CBU) electric vehicles from China. Local assembly and related activities may be expanded in the future by the company.
What Is Still Unknown?
The company did not reveal the amount of the investment. The reports also fail to identify the brand, models or price and don’t provide a launch date. So until then, it is difficult to say if the cars will be actually inexpensive or yet another import-based EV manufacturer.
What’s a cement company doing in EVs?
The EV market is expanding and more consumers are interested, adding new international and local brands, says Thatta Cement. It desires an early coming to the market after a shift in the market and an enduring business in the sector.
Is It the Only Cement Group Doing This?
Bestway Group, which owns Bestway Cement, recently entered Pakistan’s auto market as the sole authorised distributor of Geely, with three new energy vehicles. It said it would create a nationwide network, financed via UBL, charging system, and an offered six-year/150,000-km warranty and 8-year/100,000-km warranties on the battery and motor.
What Should Buyers Ask About a New EV Brand?
Educate the public about what to ask for any brand. What’s the warranty period for the battery and motor? What are the locations of the services centres? Do they have locally available spares available? What choices do you have for charging at home? Investigate the impact on the importer if they cease a business. Well, a new brand is a good deal, but once supported, it becomes an old brand.
Conclusion
Thatta Cement has joined a list of growing EV companies in Pakistan with its plan. As yet there is no price, brand or date, though, which means wait for the official announcements. Evaluate any new EV based on the warranty, service and total cost.
