Pakistani Cement Maker to Introduce Affordable Electric Cars

Thatta Cement, a leading Pakistani cement manufacturer, announced plans to enter the growing electric vehicle (EV) market in Pakistan. The company announced its intentions through a submission to the Pakistan Stock Exchange (PSX) on Thursday, revealing that its board of directors had approved the investment.

Thatta Cement stated that Pakistan's EV market is experiencing a surge in interest, driven by increasing consumer demand for electric mobility. The company also highlighted the supportive role of various government incentives and tax concessions in fostering this market expansion.

The cement maker intends to focus on the mass-market segment, aiming to introduce affordable, compact, and small electric vehicles. These vehicles will be designed to cater to the mobility requirements and purchasing power of a broad spectrum of consumers. Initially, Thatta Cement will import fully built electric cars from China, though there is potential for the company to expand into local assembly and other related activities in the future.

The company's strategic move is expected to establish an early presence in Pakistan's rapidly evolving EV market, positioning Thatta Cement as a key player in the sector's sustainable development. However, the exact amount of the planned investment has not been disclosed. The announcement of this venture to introduce affordable electric cars was reported by ProPakistani.