Latest news with #NEV
Business Recorder
20 hours ago
- Automotive
- Business Recorder
Pakistan launches National Electric Vehicle Policy 2025-30
Pakistan government on Thursday officially launched the National Electric Vehicle (NEV) Policy 2025-30. Speaking at the launch, Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan called the policy a 'historic and transformative step' in Pakistan's journey towards industrial, environmental, and energy reforms, according to a statement from the Ministry of Industries and Production. Haroon Akhtar Khan stated that the new EV policy was aligned with the prime minister's vision of promoting clean, sustainable, and affordable transportation while encouraging local industry and protecting the environment. He emphasised that the transport sector was a major contributor to carbon emissions in Pakistan, and reforms in that area were imperative. National Electric Vehicle policy expected in one month Akhtar said one of the major targets under the policy was to ensure that 30% of all new vehicles sold in Pakistan by 2030 would be electric. The transition is projected to save 2.07 billion litres of fuel annually, amounting to nearly $1 billion in foreign exchange savings. Additionally, the policy is expected to reduce carbon emissions by 4.5 million tons and cut healthcare-related costs by $405 million per year. Akhtar announced that an initial subsidy of Rs9 billion was allocated for the fiscal year 2025-26, under which 116,053 electric bikes and 3,171 electric rickshaws would be facilitated. 'Importantly, 25% of the subsidy is reserved for women to provide them with safe, affordable, and eco-friendly mobility.' He said a fully digital platform was introduced to ensure transparent online application, verification, and disbursement of subsidies. Furthermore, the policy outlines the installation of 40 new EV charging stations on motorways, with an average distance of 105 kilometres between them. Electric Vehicle policy to be announced by end of November: Tanveer The policy also includes the introduction of battery swapping systems, vehicle-to-grid (V2G) schemes, and mandatory integration of EV charging points in new building codes to facilitate wider adoption in urban areas. To encourage local manufacturing, incentives are being provided to domestic producers. Currently, over 90% of parts for two- and three-wheelers are already manufactured locally, according to the ministry. As per the details, the government will also introduce special support packages for small and medium enterprises (SMEs) to further boost localisation. The Automotive Industry Development and Export Plan (AIDEP) tariff facility would continue until 2026 and be phased out gradually by 2030, the official announced. The Special Assistant noted that the NEV policy was developed through consultations with over 60 experts, institutions, and industry stakeholders, guided by a steering committee under the Ministry of Industries and Production since September 2024. The steering committee would hold monthly and quarterly review meetings, while the Auditor General of Pakistan would conduct a performance audit every six months, Akhtar said. He stressed that the NEV policy was not only an environmental revolution but also a foundation for industrial growth, local employment, energy efficiency, and technological self-reliance in Pakistan. He expressed hope that federal and provincial governments, the private sector, and citizens would work together to realise 'this vision of a clean, modern, and sustainable transport system'. Akhtar stated that the policy was a decisive move toward clean energy, sustainable transportation, and industrial development. ' 'It presents a comprehensive and results-driven strategy that aims to lead Pakistan toward a cleaner and more resilient future.' He also highlighted that locally produced goods were 30-40% cheaper than imported alternatives. In the two-wheeler segment alone, more than 90% of parts are now produced locally, according to Akhtar. 'Given Pakistan's vulnerability to climate change, the EV policy will significantly contribute to achieving global carbon reduction targets.' The policy is expected to yield savings of approximately Rs800 billion over the next 24-25 years through reduced fuel imports, the use of cheap electricity, and revenue from carbon credits. 'Charging vehicles with electricity will also reduce capacity payments from Rs174 billion to Rs105 billion, and carbon credits could generate around Rs15 billion in revenue.' The country's total energy demand for EVs over the next five years is projected at 126 terawatt-hours, which could be met using the existing surplus in the national grid, he said. An electric rickshaw or bike user is expected to recover their initial investment within 1 year and 10 months due to the low cost of charging compared to petrol. For instance, if the additional cost of an electric bike is Rs150,000, 'this can be recouped within less than two years through fuel savings'. Akhtar concluded by saying that the government had also provided exemptions on customs duties and sales tax on EV parts to support the local industry. 'This policy should be embraced wholeheartedly by Pakistan, as it is a game-changer for our economy, environment, and industrial landscape.'
Business Recorder
21 hours ago
- Automotive
- Business Recorder
Govt launches National Electric Vehicle Policy 2025-30
The federal government has officially launched the National Electric Vehicle (NEV) Policy 2025-30, the Ministry of Industries and Production said on Thursday. Speaking at the launch, Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan called the policy a 'historic and transformative step' in Pakistan's journey towards industrial, environmental, and energy reforms. Haroon Akhtar Khan stated that the new EV policy is aligned with the Prime Minister's vision of promoting clean, sustainable, and affordable transportation while encouraging local industry and protecting the environment. He emphasised that the transport sector is a major contributor to carbon emissions in Pakistan, and reform in this area is imperative. National Electric Vehicle policy expected in one month He said that one of the major targets under the policy is to ensure that 30% of all new vehicles sold in Pakistan by 2030 are electric. This transition is projected to save 2.07 billion litres of fuel annually, amounting to nearly USD 1 billion in foreign exchange savings. Additionally, the policy is expected to reduce carbon emissions by 4.5 million tons and cut healthcare-related costs by USD 405 million per year. Akhtar announced that an initial subsidy of Rs. 9 billion has been allocated for the fiscal year 2025-26, under which 116,053 electric bikes and 3,171 electric rickshaws will be facilitated. Importantly, 25% of this subsidy is reserved for women to provide them with safe, affordable, and eco-friendly mobility. He said a fully digital platform has also been introduced to ensure transparent online application, verification, and disbursement of subsidies. Furthermore, the policy outlines the installation of 40 new EV charging stations on motorways, with an average distance of 105 kilometres between them. Electric Vehicle policy to be announced by end of November: Tanveer The policy also includes the introduction of battery swapping systems, vehicle-to-grid (V2G) schemes, and mandatory integration of EV charging points in new building codes to facilitate wider adoption in urban areas. To encourage local manufacturing, incentives are being provided to domestic producers. Currently, over 90% of parts for two- and three-wheelers are already manufactured locally. The government will also introduce special support packages for small and medium enterprises (SMEs) to further boost localisation. The AIDEP tariff facility will continue until 2026 and be phased out gradually by 2030. The Special Assistant noted that the policy was developed through consultations with over 60 experts, institutions, and industry stakeholders, guided by a steering committee under the Ministry of Industries and Production since September 2024. The steering committee will hold monthly and quarterly review meetings, while the Auditor General of Pakistan will conduct a performance audit every six months. He stressed that the NEV Policy 2025-30 is not only an environmental revolution but also a foundation for industrial growth, local employment, energy efficiency, and technological self-reliance in Pakistan. He expressed hope that federal and provincial governments, the private sector, and citizens will work together to realise this vision of a clean, modern, and sustainable transport system. Akhtar stated that the policy is a decisive move toward clean energy, sustainable transportation, and industrial development. It presents a comprehensive and results-driven strategy that aims to lead Pakistan toward a cleaner and more resilient future. He also highlighted that locally produced goods are 30-40% cheaper than imported alternatives. In the two-wheeler segment alone, more than 90% of parts are now produced locally. Given Pakistan's vulnerability to climate change, the EV policy will significantly contribute to achieving global carbon reduction targets. The policy is expected to yield savings of approximately Rs. 800 billion over the next 24-25 years through reduced fuel imports, the use of cheap electricity, and revenue from carbon credits. Charging vehicles with electricity will also reduce capacity payments from Rs174 billion to Rs105 billion, and carbon credits could generate around Rs15 billion in revenue. The country's total energy demand for EVs over the next five years is projected at 126 terawatt-hours, which can be met using the existing surplus in the national grid. An electric rickshaw or bike user is expected to recover their initial investment within 1 year and 10 months due to the low cost of charging compared to petrol. For instance, if the additional cost of an electric bike is Rs. 150,000, this can be recouped within less than two years through fuel savings. He concluded by saying that the government has also provided exemptions on customs duties and sales tax on EV parts to support the local industry. 'This policy should be embraced wholeheartedly by Pakistan, as it is a game-changer for our economy, environment, and industrial landscape,' Akhtar affirmed.
Yahoo
2 days ago
- Automotive
- Yahoo
JAC, Huawei strengthen technology partnership
China's state-owned JAC Group has strengthened its collaboration with local technology company Huawei Technologies Company, as it looks to accelerate the development of smart, connected vehicle solutions, electrified drivetrain technologies and the adoption of AI-based systems The new agreement aims to strengthen JAC's existing collaboration agreement with Huawei Digital Power, signed earlier this year, which provides for the co-development of new technologies and systems for new energy vehicle (NEV) platforms, intelligent electric-drive components and manufacturing systems, as well as improving sales and marketing operations and the development of a charging network. The two companies ultimately aim to co-develop highly-competitive products that deliver exceptional user experiences, as well as to establish an integrated NEV charging ecosystem. The latest agreement allows for the integration of Huawei's intelligent automotive solutions into JAC's vehicle platforms, including advanced driver assistance systems, intelligent cockpits, vehicle control systems, cloud connectivity, and advanced communications. JAC has also agreed to adopt Huawei's AI and communications technologies for its enterprise-wide digital transformation, including the use of AI to help it improve data management, R&D, manufacturing, sales and aftersales operations. "JAC, Huawei strengthen technology partnership" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Time of India
4 days ago
- Automotive
- Time of India
Warren Buffett's billion-dollar EV play backed BYD, so why not Tesla?
Warren Buffett 's long-standing investment in China's BYD is emerging as one of his most consequential moves in the electric vehicle (EV) space, not only for its returns but also for what it says about the kind of electric future the billionaire believes in. As Tesla 's stock slides and sales weaken under intense global competition and political headwinds, Buffett's deliberate avoidance of Elon Musk 's high-profile EV giant, despite multiple public nudges from Musk himself, is telling. Buffett, known for his disciplined, value-based investing style, stunned markets back in 2008 when Berkshire Hathaway acquired a 9.9 per cent stake in BYD for about $230 million. More than 15 years later, that stake has ballooned in value to between $6 billion and $8 billion, even after Berkshire trimmed its holdings to under 5 per cent in 2024. The gradual reduction, seen by some as profit-booking rather than a loss of confidence, hasn't changed the core message: Buffett got it right, early. BYD surges ahead as Tesla stumbles In March 2025, BYD overtook Tesla in quarterly automotive revenue for the first time, a milestone that marks more than symbolic victory. It underscores a fundamental shift in global EV dynamics. BYD sold around 1.76 million battery-electric vehicles in 2024, just shy of Tesla's 1.79 million. But when plug-in hybrids are included, BYD's total New Energy Vehicle (NEV) sales soared to 4.27 million units, far eclipsing its American rival. In Europe, BYD outsold Tesla in battery EVs for the first time in April 2025, registering 7,231 units to Tesla's 7,165, according to data from JATO Dynamics. The company's appeal lies in practical design, lower costs, and its proprietary Blade Battery technology , which allows BYD to maintain margin flexibility amid a brutal price war. Tesla, on the other hand, is feeling the heat. The company saw its first drop in annual deliveries last year and reported a 13 per cent decline in Q1 2025. Analysts expect another year of contraction, citing factory halts, delayed model rollouts, and intensifying competition from Chinese rivals like BYD. In the first half of 2025, Tesla shares have fallen 21 per cent, while Shanghai-listed BYD stock is up 22.4 per cent. The price war that changed everything The global EV price war that began in early 2023, sparked by Tesla's initial price cuts, has become an all-out brawl. Chinese automakers, particularly BYD, responded aggressively, undercutting global rivals. As prices dropped, automakers saw profit margins shrink. BYD's ability to produce its own batteries and leverage vertical integration proved critical in maintaining profitability, even as entry-level models like the Seagull and Dolphin pushed EV prices below $30,000. In contrast, Tesla's margins have come under severe pressure, particularly in Europe and China. Market participants say buyers have also been put off by Elon Musk's growing political involvement and polarizing public persona, which has triggered protests and boycotts in the U.S. and abroad. Why Buffett said no to Tesla Buffett has long held that the auto industry is too capital-intensive and cyclical for consistent investment returns. At Berkshire's 2024 annual meeting, he reiterated that his late partner Charlie Munger had pushed strongly for the BYD investment. 'Charlie twice pounded the table … and said, 'Buy BYD.' He was right — big time,' Buffett said. While Musk has publicly suggested Buffett should invest in Tesla, the Oracle of Omaha has shown little interest. Tesla doesn't match Buffett's investment criteria: stable leadership, durable competitive advantages, and predictable returns on invested capital. Buffett has also consistently avoided U.S.-based EV startups like Lucid and Rivian, citing high burn rates and unproven scalability. BYD, by contrast, combines mass manufacturing, a cost advantage, and global reach, all underlined by disciplined expansion and consistent product evolution. Global shift, strategic patience While Tesla has concentrated on markets in North America and Europe, BYD is moving swiftly into Latin America, Southeast Asia, and even Europe, often via local partnerships and manufacturing. This approach helps it bypass tariffs and offer localized, price-sensitive EV models, a strategy well-suited to emerging markets. Despite phasing out subsidies in regions like China and changing tax credit rules in the U.S., BYD's pricing edge remains intact. It continues to gain share in cost-sensitive segments where Tesla's premium brand and higher prices are harder to justify. Buffett's investment in BYD also complements his broader bet on the green energy transition. Through Berkshire Hathaway Energy, the billionaire has backed solar, wind, and grid infrastructure, reinforcing his support for a low-carbon economy from multiple angles. Buffett once said, 'We only swing at pitches we like.' His early swing on BYD, and his steadfast refusal to follow the hype around Tesla, is a textbook display of his principles in action. It's not that he missed Tesla, it's that he made a different, arguably smarter, play. As EVs redefine the global auto industry, Warren Buffett's legacy now includes helping shape its direction. In a sector full of hype, his investment in BYD remains a model of clarity, conviction, and long-term thinking.
Mail & Guardian
6 days ago
- Automotive
- Mail & Guardian
The BYD Seal 7: Humbling BMW drivers since 2025
The BYD Seal 7. You're in the wrong country if you've never pulled up to a robot and heard a BMW driver rev his car before boosting to the next robot. It's usually a case of 'if you've got it, flaunt it' for those drivers, and some people want to be like them, while others of us laugh at them. One thing that you cannot take away from BMW drivers is that their vehicles can actually back up all the noise they make with the power they produce. However, since new-energy vehicles (NEVs) and electric vehicles (EVs) entered the market, the power figures that we used to only see on performance cars have become child's play for NEVs. We constantly look at above 200kW of power and over 350Nm of torque. But one critique in the motoring world has been that, while everyone enjoys the power, they miss the noise. The term 'speed and sound' becomes redundant with EVs. With the BYD Seal 7, which is a fully electric sedan, the power figures are astounding. It comes in two variants: the premium and the performance, with the former producing 230kW of power and 360Nm of torque and the latter producing 390kW of power and 670Nm of torque. BYD claims that the performance model does 0-100 in just 3.8 seconds while the premium model takes just under 6 seconds to hit 100km/h. I had the premium model on test, so I didn't get the adrenaline rush I would have got from the performance, but the figures on it mean it is still extremely rapid. It's great to test the instant torque on the vehicles but you have to be a responsible driver and citizen. It's not as if you can go around racing everyone and making a noise — like those BMW drivers. But it also means that you can put them in their place should the need arise. Luckily for me, it actually did. I was going down Atlas Road in Boksburg on my way home after a long two-hour game of padel. I pulled up to the robot just before the highway and some smart BMW driver pulled up next to me revving his engine with his window down. He obviously couldn't hear my vehicle but the Seal 7 gives off real sports-car vibes, which is probably why he wanted to prove a point. I looked across at him and he made the same gesture that I've seen Vin Diesel make in the Fast & Furious movies. He basically challenged me to a race to the next robot. At first, I ignored the gesture and just looked forward but then he revved again. I was not going to just sit back now, so I gave him the signal that it was on. As we left that robot, he made a solid start because of his turbocharged engine, but when the BYD Seal 7 got moving, he just couldn't keep up. Bear in mind, because I was passing it, I didn't see what model he was driving. As we stopped at the next robot, he rolled his window down again, and he asked me about the car. It had obviously impressed him. What impressed me more was just how fast the arrogance disappeared off his face. The Seal 7 is an impressive vehicle. When I drove the BYD Sealion 7, I felt that, at higher speeds, the car seemed slightly nervous, but the Seal 7 got more and more comfortable as the speed increased. It feels extremely solid as the Seal 7 has a double-wishbone plus a five-link suspension. It uses the double wishbone set-up for individual wheel control, while incorporating five control arms for greater suspension geometry flexibility. The range of the car is also impressive. It uses the 82.5kWh BYD Blade battery and the premium variant has 570km of range while the performance variant has 520km of range. Comfort The Seal 7 comes with a beautiful interior that has heated and ventilated leather seats, a pleasing suede panel on the dashboard and a full leather steering wheel. The cabin is completed by the 10.25-inch instrument cluster and a 15.6-inch infotainment system that comes equipped with Apple CarPlay and Android Auto. A nice touch is that there are a few buttons around the gear. These include the aircon and demister buttons. You still have to control temperatures on the infotainment system, but in a world where buttons in vehicles have become so rare, we appreciate the few that we see in a vehicle. There is ample room for backseat passengers to sit comfortably. The boot has 400 litres of space and the frunk, which refers to the storage space in the front of the vehicle, has an additional 53 litres. Safety The BYD Seal 7 has earned a maximum five-star safety rating from Euro NCAP. It scored 89% for adult occupant protection, 87% for child occupant protection, 82% for vulnerable road user protection and 76% for safety assist technology. It also comes equipped with a large amount of safety features like autonomous emergency braking, lane-support systems and advanced driver assistance systems. Pricing and verdict The BYD Seal premium variant is priced at R999 900 and the performance variant is priced at R1 199 900. It must be noted that this has been touted as the brand's flagship sedan. It's silent, but it is comfortable and, performance wise, it is deadly. So for a million rand, is it worth it? I'm actually surprised that it doesn't cost more. If this vehicle had a German badge on it, it would definitely surpass the R2 million mark. However, it is difficult to see the average South African affording a car worth a million rand. It is no wonder the NEV market is growing at such a slow pace in the country.
