WASHINGTON: Government restrictions and declining sales have prompted British Columbia carmaker Dynasty Electric Car Corporation to accept a purchase offer from the Pakistani auto manufacturer, Karakoram Motors Ltd of Karachi.
The Pakistani company has agreed to buy the design and manufacturing operations of Delta, British Columbia-based Dynasty, which has been making electric cars since 2001.
Details of what the Pakistani company will pay for the assets have not been disclosed by Dynasty, which is a wholly owned subsidiary of another company that makes specialty equipment for trucks.
Dynasty general manager Danny Epp told the Canadian Broadcasting Corporation (CBC) that the main reason for the decision to sell was government regulations that prevent the electric vehicles from being operated on major highways. As Dynasty's primary market is the US, the strong Canadian dollar also played a role in the decision to accept the offer from the Pakistani company, he said.