FROM PAGE B1

“Although the electric car market in Bangladesh is not big, this segment will dominate in the future. Therefore, we have launched six new EVs,” Chowdhury Mohammad Nabil Hasan, head of marketing at Rancon Motors, told The Daily Star.

In recent years, German automotive manufacturers Audi and BMW, and Chinese giant BYD have launched EVs in Bangladesh.

“EVs will be the future market and this segment will end cars’ reliance on fossil fuels,” Hasan added.

Around 120 EVs of brands such as Tesla, Audi and Porsche have been registered with the Bangladesh Road Transport Authority (BRTA) since September 2022 when the EV registration was introduced in the country.

The official said the government is encouraging the import of EVs, charging only 89 percent duty whereas the import tariff for cars dependent on fossil fuels ranges from 143 percent to 800 percent.

According to Hasan, Mercedes Benz EVs will be priced between Tk 2.50 crore and Tk 3.50 crore. “EVs don’t need petrol or octane refills and don’t require servicing like regular cars.”

He believes Mercedes Benz EVs will be able to establish their footprint in the market despite higher prices.

The company is targeting businessmen and high-income individuals for the EVs.

To facilitate the move to EVs, Rancon Motors teamed up with Genex Infrastructure and set up 21 EV charging stations, including seven in Dhaka and 14 in other important locations across the country, by April 2024.

Audi Bangladesh became the maiden automotive brand in Bangladesh to launch an EV in January 2023.

Executive Motors Limited brought in the BMW i7 eDrive 50 in November 2023, making it available at a starting price of Tk 3 crore.

In March this year, BYD Auto Co Ltd, the world’s largest EV maker, inaugurated its flagship model, the BYD Seal, in Bangladesh. CG-Runner Bangladesh, an authorised distributor of the Chinese company, has introduced two variants of the sedan.