ISLAMABAD: Pakistan’s leading agri-equipment manufacturer, Millat Tractors Limited, said on Tuesday that its subsidiary has signed a memorandum of understanding with a major Chinese electric bike manufacturer to produce electric bikes locally.
In a notice to the Pakistan Stock Exchange, the company said the agreement covers the assembly, manufacturing and marketing of electric bikes in the local market.
The company said the partnership reflects its strategy to diversify into electric mobility and is aligned with Pakistan’s National Electric Vehicle Policy 2025-30.
It added that the collaboration marks a step toward expanding its product portfolio and contributing to the shift toward sustainable, affordable, and locally manufactured transport.
The announcement follows an earlier disclosure that a Millat group company was evaluating the electric-bike production in Pakistan.
Demand for electric two- and three-wheelers has been rising in Pakistan since fuel costs have elevated following the Iran war and consequent disruptions in the Strait of Hormuz.
Consumers in the fuel-importing countries, such as Pakistan, need electric mobility as a necessity.
The company said interest in electric bikes and scooters has strengthened in recent months.
Millat Tractors Limited is a Pakistan-based industrial manufacturer best known for producing agricultural tractors and related machinery.
It also manufactures diesel generators, engines and forklift trucks, and provides industrial systems and software solutions.
The company has an existing annual production capacity of 30,000 tractors on a double-shift basis.
