Atlas Honda launches Pakistan’s inaugural Electric Vehicle (EV) Bike
Atlas Honda, a prominent motorcycle manufacturer in Pakistan, has revealed its initial Electric Vehicle (EV) motorcycle called Honda ‘BENLY e,’ without specifying its release date in the country.
In a statement issued on Tuesday, the company announced the unveiling during a ceremony held at Atlas Honda’s Sheikhupura Factory, marking the company’s 60th year of operations in Pakistan.
Noriaki Abe, Chief Officer of Motorcycle and Power Products at Atlas Honda, mentioned that the Honda BENLY e would undergo test marketing, with future product offerings shaped by market feedback, aiming to deliver what aligns best with societal and customer preferences within Honda’s offerings.
Abe emphasized the significant role Honda products play in the daily lives of many Pakistanis, underscoring the longstanding presence and contributions of the Atlas Group and Honda Motor Company in motorcycle and auto parts manufacturing since 1963.
At the same event, Shinji Aoyama, Executive Vice President and COO of Honda Motor Company, expressed confidence in Honda’s readiness for the rapidly transforming mobility industry, positioning itself well for the future.
Saquib H Shirazi, President and CEO of Atlas Honda, highlighted the company’s expanded product lineup and substantial localization efforts, reaching up to 95%.
Shirazi emphasized the establishment of a vast network of local auto parts manufacturers and dealers, creating significant employment opportunities for over 150,000 individuals through more than 10,000 touchpoints.
Atlas Honda Limited reported a substantial 152% increase in net profit during the first quarter of the fiscal year 2023-24, attributed to robust sales growth and additional income sources.
However, the motorcycle industry, which primarily serves the low-income population segment, experienced a decline in sales in October, with a 5% month-on-month and 11% year-on-year decrease. Atlas Honda, the market leader, recorded a 5% month-on-month and 5% year-on-year decline, selling 90,000 units in October.
The industry faced a 10% year-on-year drop in motorcycle sales to 371,000 units in the initial four months of the fiscal year due to increased bike prices and consumers’ limited purchasing power.
Challenges for EV bikes in Pakistan include the insufficient charging infrastructure, high costs, limited range, low public awareness, and inconsistent government policies. These challenges encompass issues of infrastructure development, cost-effectiveness, awareness campaigns, and policy standardization in promoting the adoption of EV bikes.