Dewan Farooque Motors, EGML partner to make electric cars in Pakistan

MG News | May 30, 2024 at 02:57 PM GMT+05:00

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May 30, 2024 (MLN): Dewan Farooque Motors Limited (PSX: DFML) has entered into a toll manufacturing agreement with ECO-Green Motors Limited (`EGML) for manufacturing of EGML's Honri-VE (200KM and 300KM range), thereby becoming the leading manufacturer of electric vehicles in Pakistan.

The production thereof is expected to commence in August 2024, as informed by the company through the Pakistan Stock Exchange (PSX) today.

Yesterday, the company further disclosed that it has resumed commercial production of the "Special Purpose KIA Commercial Vehicle" under the product name KIA 'SHEHZORE'.

As a result, the rollout and launch ceremony have been scheduled for June 04, 2024.

Read: DFML resumes production of KIA Shehzore

These developments come in line with DFML's objective to continue serving the people of Pakistan with high-quality products and after-sales services through our strong nationwide dealership network.

In light of these positive advancements, DFML's share price is booming right now, with a gain of 7.99% or 3.31 rupees on the day.

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