Millat Tractors affiliate explores electric bike production in Pakistan

Millat Tractors Limited, Pakistan's largest tractor manufacturer, disclosed on Thursday that one of its group affiliates is assessing the feasibility of entering the electric motorcycle market.

The company has issued a clarification in response to media reports about a potential new venture.

Is Millat Tractors entering the electric bike market in Pakistan?

A notice filed with the Pakistan Stock Exchange said a Millat group company is currently evaluating the feasibility of electric bike production in Pakistan, but no final decision has been made. The matter remains at a preliminary stage.

Millat Tractors Limited clarified that the evaluation is being conducted by an affiliate, not by the listed company itself.

Why is Millat group considering electric bike production?

Demand for electric two-wheelers has surged in Pakistan as consumers shift to more affordable transport options amid record-high fuel prices.

Around 40,000 electric two-wheelers were sold in April alone, with EV scooters accounting for 90% of sales and EV bikes the remaining 10%. The strong market activity reflects growing consumer interest in electric mobility as petrol and diesel prices hit PKR 400 per liter.

What does Millat Tractors currently manufacture?

Millat Tractors Limited was incorporated in 1964 and is engaged in manufacturing and selling tractors, diesel generating sets, engines, and forklifts.

The company also provides support for industrial software solutions. It has an annual production capacity of 30,000 tractors on a double-shift basis.