Regal Automobiles, within just a month of introducing the Seres 3 Electric Vehicle (EV) to Pakistan, has surprised the market with a significant price cut. The company’s announcement, attributing this decision to multiple factors, sheds light on a more accessible future for electric mobility in the country.
In an unveiling on Wednesday, the company highlighted a positive shift in the Pakistani rupee’s value against the US dollar as a primary reason for this bold move. Additionally, adjustments in duties and levies specific to EVs were underscored as key contributors to this substantial price revision.
This stride towards affordability and accessibility aligns seamlessly with Regal Automobiles’ commitment to promoting sustainable mobility and encouraging the widespread adoption of electric vehicles nationwide. By leveraging these adjustments, the company aims to stimulate the market and inspire greater EV adoption across diverse segments of society.
Price Revision Breakdown:
The most notable aspect of this announcement is the staggering reduction in the ex-factory price of the locally assembled Seres 3 EV. The price has plummeted by a significant Rs. 809,000, resulting in a revised cost of Rs. 8,390,000 compared to its former rate of Rs. 9,199,000. This considerable adjustment aims to position the Seres 3 as a more accessible option within the electric vehicle market, potentially appealing to a broader customer base.
Moreover, the booking price for the Seres 3 has witnessed a substantial cut of Rs. 50,000, now available for booking at Rs. 250,000 as opposed to the previous rate of Rs. 300,000. This reduction in the booking amount could serve as an additional incentive for potential buyers, making the Seres 3 more attainable and attractive to those considering an electric vehicle purchase.
Price Comparison:
| Aspect | Previous Price | New Price |
|---|---|---|
| Ex-Factory Price | Rs. 9,199,000 | Rs. 8,390,000 |
| Booking Price | Rs. 300,000 | Rs. 250,000 |
The anticipated commencement of deliveries by April 2024 further solidifies this push for accessibility, potentially prompting a surge in Seres 3 demand and contributing to the evolution of the electric vehicle landscape in Pakistan.
This remarkable price adjustment by Regal Automobiles not only underscores their commitment to making electric vehicles more accessible but also signals a promising shift towards sustainable and eco-friendly transportation options in the country.
