Zyp Technologies Secures $1.5M to Launch EVs with Battery Swap Stations in Pakistan

Zyp Technologies has successfully raised $1.5 million in Series Pre-A funding, led by Shorooq Partners, to expand its electric vehicle infrastructure in Lahore, Pakistan.

• Infrastructure Development: Zyp Technologies will establish over 60 battery swap stations and deploy 1,000 Zyp Utility Motorcycles (ZUM 2000) within the next 12 months.

• Support for EV Policy: This launch supports Pakistan’s National Electric Vehicle Policy, which targets EVs to make up 30% of all vehicles sold by 2030.

• Manufacturing Capacity: The company has set up an assembly line capable of producing up to 12,000 electric motorcycles per year.

• Regional Expansion: Zyp aims to expand its operations to other Gulf nations, including the United Arab Emirates, by 2025.

• Investment Benefits: The funding from Shorooq Partners is expected to yield significant environmental and economic benefits for Pakistan.

Zyp Technologies is set to be a major player in Pakistan’s shift towards electric vehicles, promoting eco-friendly and innovative urban transportation solutions.