Millat Tractors Limited is exploring the possibility of entering Pakistan’s fast-growing electric bike market as rising fuel prices continue to change how people travel across the country.
In a notice sent to the Pakistan Stock Exchange on Thursday, the company said one of its group firms is currently studying the feasibility of producing electric bikes in Pakistan.
The company clarified that the plan is still at an early stage and no final decision has yet been made.
The move comes at a time when interest in electric vehicles is increasing sharply, especially among daily commuters struggling with high petrol prices. Many consumers are now looking for cheaper alternatives to conventional motorcycles, which remain the country’s most widely used form of transport.
Industry estimates suggest that around 40,000 electric two-wheelers were sold in April alone. Dealers say most of these sales came from electric scooters, while demand for electric bikes is also rising steadily.
The shift towards EV bikes has picked up pace after another increase in fuel prices last week. The government raised petrol prices by Rs6.51 per litre, taking the rate to Rs399.86. High-speed diesel prices were increased by Rs19.39 per litre to Rs399.58 per litre.
For many households, the repeated jump in fuel costs has made running petrol-powered bikes increasingly difficult. Consumers are also becoming more concerned about possible fuel shortages and long-term fuel availability, pushing interest towards electric alternatives that can be charged at home.
Several companies are already selling electric bikes in Pakistan, with prices starting from around Rs100,000 and reaching close to Rs1.5 million depending on the model and battery range.
Millat Tractors Limited, one of Pakistan’s largest tractor manufacturers, was incorporated in 1964 and produces tractors, diesel engines, forklift trucks and power generation equipment. The company has an annual production capacity of 30,000 tractors on a double-shift basis.
The possible entry of a major industrial player into the EV bike segment is expected to draw attention from both investors and consumers, especially as Pakistan’s electric mobility market continues to expand.
