Automark

The internal ministerial board meeting presided by minister of since and technology and attended by representatives of FBR, Sales Tax, PEC, PSQCA and other relevant stakeholders on Thursday 21st at Islamabad.

According to reliable sources, the meeting unanimously resolved and finalized to establish separate EV development board to regulate the EV development in Pakistan.

It was debated and agreed that this task cannot be left at the hands of current regulator as it has already failed to regulate the auto industry as it should be. The deflection and local development of auto parts has not been up to the mark and required numbers, as a result govt has to pay a heavy price in dollars under SRO 655 to feed the auto industry, which has failed in developing localisation and provide customers with quality and the prices of ice vehicles.

The development in EV sector in Pakistan is only possible through a separate EV regulator, to avoid conflict of interest, as present regulator is heavy packed and heavily represented by auto makers.

The meeting was of the view that the task of formation of separate and independent board should be rested PEC and they would develop relevant documentation and present it to the ministry for forwarding a summary to cabinet for approval.

The name of this body is suggested ‘Future Science and Technology Board’ to regulate EV as well some other subjects related to science and technology. The ministry of MOCC can also play a positive role along with science and technology.

The meeting also expressed it severe concerns that SROs and other notifications have not been issued by the concern department of FBR and other bodies in line with the EV policy approved by ECC and the cabinet. The relevant were asked to expedite the SROs etc as investors and public is not able to get any benefits against the approved policy.

The concerned department assured to expedite the process. The meeting was concerned that it is unwanted state of affairs, that the relief to public and EV investors is delayed without any reason this is defaming the efforts of the PTI government.

The new logo is a symbol of Kia’s new brand purpose and the values it promises to offer customers through future products and services, the company claims.

HIGHLIGHTS
• The new logo of Kia Motors resembles a handwritten signature.
• The logo’s unbroken line conveys the company’s commitment to bringing moments of inspiration, it is claimed.
• Kia Motors will announce a new brand purpose and strategy on January 15.

Kia Motors has unveiled its new corporate logo and global brand slogan. The automaker claims that the introduction of the new logo represents its ambitions to establish a leadership position in the future mobility industry by revamping nearly all facets of its business.

According to Kia Motors, the new logo is a symbol of its new brand purpose and the values it promises to offer customers through future products and services. The new logo resembles a handwritten signature and its unbroken line conveys the company’s commitment to bringing moments of inspiration.

“Kia’s new logo represents the company’s commitment to becoming an icon for change and innovation,” Kia Motors President and CEO Ho Sung Song said.

“The automotive industry is experiencing a period of rapid transformation, and Kia is proactively shaping and adapting to these changes. Our new logo represents our desire to inspire customers as their mobility needs evolve, and for our employees to rise to the challenges we face in a fast-changing industry,” he added.

Kia Motors also revealed its new global brand slogan, ‘Movement that inspires’. The company will announce a new brand purpose and strategy on January 15.

The launch of the new logo follows the announcement of Kia’s ‘Plan S’ long-term business strategy in 2020. Under Plan S, one of the objectives of the automaker is to take a leading position in the global car market with a focus on popularising electric vehicles and introducing a broad range of mobility services.

Source: IndiaToday

Master motors have released their first sedan in the line of car ceremony held in their Karachi plant today. They first exhibited the car on Friday 11 December 2020 in a media press conference held in Karachi.

Changan Alsvin is a sedan car; it is the first Chinese sedan which has been brought to Pakistan in CKD formation. Usually, all new vehicles are brought in CBU form and sold in limited units before they are brought in CKD form. This also means that Pakistani motor enthusiasts will be able to get a vehicle that hasn’t been driven before by buyers. Moreover, the spare parts of the cars will be available easily in the market.

Changan is a Chinese state-owned automobile manufacturer that is headquartered in Chongqing. The Chinese company will operate in partnership with Master Company. Master company is based in Pakistan, which has established a $100 million plant in Karachi at port Qasim Area.

According to sources, the Master company plant has the capacity to produce 30,000 units in a year. The company has over seventeen dealerships in Pakistan.

Talking to the media on the occasion of media press conference on last week , Master Company CEO Danial Malik said, “We plan to expand our dealerships in Pakistan, hopefully, bring the number up to twenty-five.”

According to rumors, the Changan will be priced somewhere around PKR 2.3 million; meanwhile, the variant will be around PKR 2.5 million. The prices will be revealed in January when the car is opened for bookings.

Malik said, “That they are targeting the hatchback consumers who previously used ‘imported hatchbacks.’ As compared to current hatchback options in the Pakistani auto market, the Changan will offer better and more features. Alsvin is the current generation model, and we plan to introduce Changan models that are the latest in the global market. Booking will be start in January 2021”, he said.

He further implied, “Master motor isn’t a car cartel, and the goal is to give the customer’s choice so that they can decide based on cars performance and compatibility rather than price or segment.”

Things finally seem to be looking up for the automobile industry, especially after the downfall caused by Covid-19.

Customers seem to be excited and hoping that the car would be placed around the price point of 2 million. Hopefully, these new joint ventures entering the market will finally break the monotony created by the two leading car dealers in Pakistan.

General Tyre has rebounded and is trying to recoup the losses it incurred due to covid-19, announced the CEO of the company.

“The company is steadily on the road to recovery after the covid-19 global shutdown. The plant was shut down for nearly 75 days before resuming operations in June,” said Hussain Kuli Khan CEO General Tyre.

He added that the company caters to four segments namely Original Equipment Manufacturers (OEM’s); Replacement Market (RM); Institutions; and Export.

“During the last year Replacement market sales kept the company going. This segment strengthened because of the steps by the government to curb smuggling and covid-19 impacting the supply of under-invoiced imported tyres,” he added.

Similarly, he added, the OEM sales have started picking up after a lack luster year while the institutional / army tender sales have also increased, as they are giving preference to indigenous products which are of good quality and price competitive too.

“The exports of the company have also grown significantly in the last couple of years with a hope to continue the trend this year as well. The major destination is Afghanistan,” said the CEO.

It is to be noted that at the end of first quarter of the current financial year the net sales of the company were Rs 3.2 billion (up by 42% against the same period last year).

The company reported profit after tax as Rs 126 million (up by 6.9 times) and the exports for the same period earned the company Rs. 29.3 million (32% increase).

“The company has contributed Rs 13.5 billion to the national exchequer during the last five years in the form of duties and taxes. Also, the company over the last five years has invested Rs 4.7 billion in BMR,” he said.

He added that this year the major addition is the application of joint less cap ply in the radial tyres for more stable road contact and soft ride.

“This has also improved ride (safe ride during high speed) and handling of tyres while it reduces fuel consumptions due to less rolling resistance.

“This new feature in the tyres has extended tyre life due to less heat generation by the tires,” said the CEO.

In equipment category, he added, the company has added a new steelastic machine for making steel belts for radial tyres.

“Also, automatic tyre sorting and conveying system to take tyres from curing to the warehouse via inspection and uniformity has also been introduced.

“Besides, the company has state-of-the-art radial tyre building machines along with hydraulic tyre curing presses for radial tyre curing.

“Moreover, there are automatic cutting and splicing machines to cut body plies of radial tyres,” he added.

Talking about the joint ventures of Chinese tyre companies to set up plants in Pakistan, the CEO said this is a welcome sign.

“The government has to introduce certain measures to keep them while these steps will also benefit the existing tyre manufacturers,” he said.

He added that the government should ensure that a certain percentage of the raw materials for the industry is manufactured locally as currently over 90 percent of the raw material is imported.

“Secondly, the government has to continue in its efforts to abolish smuggling and under invoicing of tyres,” suggested the CEO.

United Bravo has announced a reduction in the price of their car ‘Bravo.’ According to the statement, the new cost of 800cc hatchback United Bravo will be 10,099,000 (Ex. Factory price).

According to the statement, the reduction of 0.1 million comes in lieu of the depreciation of the dollar exchange rate. The dollar, which was previously at 167 Rs in March 2020, has gone down to 160 Rs in October 2020.

The revised prices will apply to orders placed on October 29th, 2020 and onward. Backorder customers will be served as per adjusted prices, and the stock dealership will be invoiced at the new price after October 29th, 2020. The advanced tax will be inclusive in the updated price, and the freight will be charged as per destination. As per company ‘Positive exchange rate impact transferred to customers’

United was the first Pakistani Manufacturer to make their car locally. When they first released the car in November 2018, the cost was 985,000 Rs. However, on July 20th, 2020, they increased the price of Bravo by Rs214, 000 bringing the value up to 11,099,000.

The auto industry should also follow in the footsteps of United Bravo. The price hikes were made due to the dollar rate inflating should be reduced again.
The pandemic has dramatically affected the purchasing power of people. A price reduction could make the prices slightly more affordable to people.

Wah Nobel Group of Companies, a multinational concern, established in 1962
is a Joint Venture between Pakistan Ordnance Factories through Wah Industries Ltd,
SAAB AB, Sweden and Almisehal Company, Saudi Arabia, has inked Memorandum of
Understanding with an over 100 years old Company, Sheikh Zia-ul-Haq & Sons (Pvt)
Ltd, for setting up of an Electric Vehicles and Electric Batteries Manufacturing /
Assembly Plant at Karachi (Buses, Coasters and Coaches) first of its kind. Indeed it is a
landmark event and would act as a catalyst of change in the realm of road
transportation system in the country.

Lt Gen Bilal Akbar, HI(M), Chairman POFs and Wah Nobel Group of
Companies graced the occasion as Chief Guest. The ceremony was also attended by
other high-ranking Military and Civil Officers and Senior Executives of Wah Nobel and
S. Zia-ul Haq & Sons (Pvt) Ltd.

The E-Vehicle technology is getting popular / being adopted around the Globe at
an accelerated pace as Electric Vehicles are far more simple as compared to the
existing vehicles as regard Electrical / Mechanical Parts, maintenance, environment
friendly, does not require fuel / lubricants thus economical on operational cost. Besides
saving on Foreign Exchange on account of fuel import for the country. Indeed market
appeal for Electric Vehicles is immense / increasing.

The Govt’s Electric Vehicles Policy offers huge incentives on account of duties
and taxes for import of Plant and Machinery, Electric Chargers and CKDSs on 1%
Custom Duty and exemption of GST. Above all 5 years Income Tax exemption for
setting up of manufacturing facility for Electric Vehicles and its related equipment.

Wah Nobel in last about 60 years has diversified its business portfolios / is
evolving to keep pace with the contemporary World. It has six companies on its orbit
engaged in diversified business activities and contributing in humble capacity towards
the economic and financial growth of the country. E-Vehicles project is another step in
this direction along with Sheikh Zia-ul-Haq & Sons (Pvt) Ltd. The Project is expected to
be commissioned by mid 2022.

• Press Release