Atlas Honda Limited has approved an investment of Rs 5.3 billion (about $20 million) for the next fiscal year. The company announced in a notice filed with the Pakistan Stock Exchange.
According to the company, this investment will be made to expand, automate, and increase the production capacity of motorcycle operations in Pakistan, after which annual production capacity will increase to 2 million units.
According to experts, this represents a major 39% expansion, expected to increase the company’s revenue and profits in the future.
Atlas Honda was established in 1962 and holds a leading position in the manufacturing and sales of motorcycles and spare parts in the country.
Also Read, Get an electric bike for just Rs4773 per month
Under the vision of Mir Sarfaraz Bugti, the Government of Balochistan has introduced an Electric Bike Scheme for the empowerment of the youth and women of the province.
The initiative is aimed at making eco-friendly transport accessible as well as supporting students and working women who depend on cheap mobility.
As per the scheme announced, the total cost of an electric bike is around Rs175,000.
To make the bikes affordable, the provincial government is set to offer a 30 per cent subsidy on the bikes that amounts to Rs 52,500 per bike.
This subsidy is important to reduce the financial burden for the applicants and ensure the adoption of electric vehicle mobility in the province.
Applicants who are selected under the scheme will have to make a down payment of Rs 17,500 initially.
