Delivery delays have become a common trait among automakers and a matter of great bother for car buyers all across Pakistan. The Government has finally
Car companies to be penalised on delayed order deliveries
Govt wants to discourage own money SAMAA | Shakeel Ahmed - Posted: May 31, 2021 | Last Updated: 5 hours ago SAMAA | Shakeel Ahmed Posted: May 31, 2021 | Last Updated: 5 hours ago
Photo: AFP
Car companies will now be slapped with penalties if they fail to make deliveries within 60 days of booking an order. The decision will be finalised in the upcoming budget with the new clause to be applicable from July. Â
The National Assembly Standing Committee on Industries and Production, chaired by Sajid Turi, decided Monday to impose a fine of 3% plus Kibor (Karachi Interbank Exchange Rate) on car companies that delay deliveries. The rate will be charged on the amount the buyer has paid.
Pakistan-China cooperation in electric vehicles promising-- Beijing Review bjreview.com.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bjreview.com.cn Daily Mail and Mail on Sunday newspapers.
Powering dream of EV revolution
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Automakers have invested substantial sums in electric vehicles. PHOTO: REUTERS
KARACHI:
The atmosphere was electrified in the headquarters of Tesla on the battery day held on September 22 as expectations were high that perhaps their charismatic CEO Elon Musk had found a secret recipe to make cheaper, reliable and safest batteries.
So far, the company’s stock has surged 10 times in a span of just one year and is now trading at $600 after split with price-to-earnings ratio of 1,280. (Yes, there is no typo).
However, what we learnt in the event broadcast live were lots of futuristic plans ranging from making a million-mile battery to even mining the very raw material but nothing substantial enough to justify the eye-popping valuation of the Tesla stock.