Airlink, Xiaomi to Assemble Affordable SU7 Electric Sports Car in Pakistan
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
Airlink Communications, listed on the Pakistan Stock Exchange (PSX) under the symbol AIRLINK, has shown extraordinary growth, with its earnings per share (EPS) skyrocketing from PKR 2.5 last year to PKR 11.7 this year. While the company, along with its subsidiary Select Technologies, continues to dominate the mobile phone market, recent information suggests that Airlink is preparing to expand its business into the electric vehicle (EV) market—a development that could be a game-changer for both the company and Pakistan’s economy.
Following the recent sighting of the Xiaomi SU7 Max electric vehicle at Karachi Port, sources within ProPakistani dug deeper into this phenomenon and found out today that Airlink is set to launch an electric car in Pakistan soon, with significant export potential as well.
The base variant of SU7 costs ¥215,900, which equates to PKR 8.5 million, making the Xiaomi SU7 price in Pakistan close to luxury vehicles. With a limited market for expensive EVs in Pakistan, the company could be looking to export the said vehicle from Pakistan and focus on right-hand drive markets globally, similar to Changan and Master Motors.
This electric car, developed in collaboration with Xiaomi, has been competing with industry giants like BYD and Tesla in China and is expected to make its debut in the Pakistani market soon.
In addition to this major development, Airlink has several other growth prospects on the horizon that could significantly boost the company’s earnings in the coming years. For instance, revenue from its smart TV sales will be reflected starting November 2024, adding a new dimension to the company’s product offerings. Furthermore, Airlink is in the process of acquiring a 5G license from the Government of Pakistan, which will not only enhance connectivity but also provide substantial financial benefits to both the company and the government.
CEO Muzzaffar Piracha also shared that Airlink expects to generate a minimum of PKR 25 billion in revenue from laptop sales in FY25, with at least 150,000 units expected to be sold. Additionally, the company is engaged in advanced-level discussions with the government regarding mobile exports, which are expected to further increase its revenue potential
One of the key issues being addressed in these discussions is the removal of anomalies in the import and export of mobile-related equipment. Currently, there is an 80% duty on importing charger parts, while fully assembled chargers are subject to zero duty. The government is working to eliminate these discrepancies, which will not only encourage local manufacturing but also create new export opportunities for Airlink.
Reference Link:- https://propakistani.pk/2024/10/01/airlink-xiaomi-to-assemble-affordable-su7-electric-sports-car-in-pakistan/
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
