Renault and Hyundai are considering to enter the Pakistani automobile market. Not many Pakistanis are aware of the fact that both these companies are leading innovators of electric hybrid cars. They are seeing enormous potential in using cheap and clean energy for automobiles.
The move has been an unexpected surprise for the scribblers of 2016-2021 auto policy but the French Renault and Korean-Japanese Hyundai are set to fire up the competition in the market.
The ruling automobile companies in the country, Toyota and Honda, won’t be mere spectators to all the demand shifts and will possibly be making arrangements to retain their position in the market.
A year ago, the ministers and the bureaucrats approved the auto policy with the ambition to increase foreign investment and job opportunities in the country within the next five years.
The aim of the policy was also to “restructure the industry on a new paradigm conforming to international practices; encouraging the industry to procure new technologies and management systems to increase efficiency and promoting pollution mitigation measures to protect public health.”
Pakistan can now be stated amongst the countries providing greater incentives to vehicles with each of the three-hybrid technology types. The country has the vision to reduce the hydrocarbons for the betterment of the environment.
The policy had also made for the import of refurbished imported cars in an attempt to break the monopoly of the trio of the Japanese assemblers who are selling low-quality vehicles in the market.
The refurbished Japan-assembled Toyota Prius was not only cheaper as compared to the locally manufactured Corolla but offered a better mileage as well. The first generation of the hybrid cars has already become popular with people so incentivizing the latest technology can help the country in overcoming its whopping oil import bill.
Within the next five years, Renault, Toyota, Honda, Hyundai, Nissan, and Volkswagen will start supplying locally manufactured vehicles in the market. Special incentives will be provided to the battery-hybrid or electric-hybrid car production. This makes a lot of sense as it will curb the oil imports while keeping the environment clean and improving road safety.
Tesla has not started offshore manufacturing yet but it sees Pakistan as a great market for its upcoming vehicle ‘Model 3’. This affordable vehicle will hit the roads in the year 2018.
Prius’ successor Mirai-Japanese has taken hybrid technology to an all new level. The car will be made available to the US market this year and to the UK market next year (with a right handed drive version). It runs on compressed hydrogen and surplus electricity-storing batteries.
No other time can be better for Pakistan than this one to revolutionize its automobile industry. The network of motorways and highways being stretched out in different parts of the country including Gwadar and Karachi will bring new opportunities for environmental-friendly vehicles. This includes the heavy trucks carrying freights as well as family cars.
The country needs to come up with additional incentives for the promotion of electric-hybrid vehicle-manufacturing in the country. This will not only reduce environmental pollution and carbon emissions but will also have a great effect on the economy of the country.
Setting up charging stations at different places and dumping the yesteryear’s costly vehicles will help the country in synchronizing with the future technology which is cheaper and brings higher dividend.