Latest news with #Alekseev
Express Tribune
03-05-2025
- Automotive
- Express Tribune
Ride-hailing service for EV transition
Hanif highlighted that tax reduction and exemption on electric vehicles will promote a fuel efficient and greener economy. PHOTO: FILE Listen to article Pakistan's transportation sector is steadily shifting gears from traditional fuel-powered engines to electric vehicles (EVs), driven by a mix of local innovation, international partnerships, and a growing emphasis on sustainability. Leading this charge is global mobility platform inDrive, which has launched multiple initiatives to accelerate EV adoption, targeting cost savings for drivers, reducing carbon emissions, and aligning with the government's vision of 30% EV penetration by 2030. "The EV market in Pakistan is poised for growth," said Aman Alekseev, Impact Projects Manager at inDrive, in an interview with Express Tribune. "New local manufacturers are emerging, and Chinese companies are entering the market. We are building collaborations to make this transition inclusive and scalable," he added. One of its flagship projects involves partnering with local startups to offer drivers an affordable pathway to EVs. Through a retrofitting model, petrol motorcycles are converted into electric ones at a fraction of the cost of buying new ones. Equipped with swappable batteries, these bikes are supported by 21 swap stations in Islamabad alone. Over six months, 60 converted motorcycles have collectively travelled over 400,000 kilometres, saving drivers approximately Rs1.4 million in fuel and maintenance costs. On average, riders save 40% monthly compared to petrol bikes. To further ease the financial burden, the company with its partners are piloting a 'Buy Now, Pay Later' (BNPL) scheme, allowing drivers to purchase new electric bikes with minimal upfront costs, Alekseev said. The inDrive is also targeting four-wheeled EVs through other partnerships, which plans to deploy 50 electric cars each in Islamabad, Lahore, and Karachi for ride-hailing services. "Initiatives like these build trust and awareness," said Alekseev. "They show EVs aren't just a concept, they're a reality benefiting everyday people." The company is the first in Pakistan to integrate AI into ride-hailing operations, leveraging machine learning for smarter dispatching, fraud detection, and better customer experience," Country Head in Pakistan Muhammad Awais Saeed said while talking to a group of journalists. It is currently engaged in discussions with stakeholders to introduce electric vehicles and sustainable transport alternatives," he said adding that projects in development include bike swapping stations, retrofitting existing bikes, and potential collaboration with local automaker Honri on their EV model. He also drew attention towards a few bureaucratic speed bumps the company is grappling with in Pakistan.
Russia Today
03-04-2025
- Business
- Russia Today
Russian home appliance market struggling
Russia's home appliance and electronics market is facing its sharpest downturn in decades as consumers opt to save rather than spend, the head of major retail chain DNS has said. Dmitry Alekseev made the comments on Thursday, writing on Telegram that current conditions are unprecedented in his 30 years in the industry. Preliminary estimates suggest first-quarter sales may have dropped by around 15%, he said. 'We've seen the market dropping in units, we've seen it fall in dollars or in real rubles adjusted for inflation,' Alekseev wrote. 'But I don't recall a time when it was simply falling in rubles – not like this.' He wrote the sector is now losing out to banks, with high interest rates encouraging Russians to move cash into deposits rather than spend on big-ticket items. Traditionally, around 30% of purchases in the segment were made on credit, Alekseev noted. That share has now fallen below 5%, as access to loans has become increasingly limited. Statistics show consumer lending in Russia dropped by 21% in 2024 compared to the previous year, as banks tightened approval criteria. The central bank's stricter regulations – including lending caps aimed at curbing household debt – were the main factor behind the decline in late 2024 and early 2025. Alekseev suggested the drop in demand was driven not only by rising prices or the shift to online marketplaces. 'Consumers now have a clear alternative – they can either spend the money or put it in the bank and earn 2% a month,' he said. READ MORE: Russians spent record amount on cars in 2024 – data DNS is a Russian retail chain specializing in electronics and home appliances, founded in 1998. It also produces goods under several in-house brands. The company says it operates more than 2,000 stores across Russia, with a presence in several CIS countries.
