DFML begins electric vehicle production

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MG News | July 23, 2024 at 03:05 PM GMT+05:00

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July 23, 2024 (MLN): In a significant development, Dewan Farooque Motors Limited (PSX: DFML) has installed the jigs required for the manufacturing of electric vehicles.

The company informed market participants through a notice issued to the Pakistan Stock Exchange (PSX) today.

This initiative is part of the manufacturing agreement between DFML and ECO-Green Motors Limited (EGML) for the production of electric vehicles.

DFML further informed that physical verification of the manufacturing facilities of EGML at the company's assembly plant is being conducted by the technical team of the Engineering Development Board.

These advancements 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.

Moreover, it is worth noting that the company's stock price has reached its upper limit of 10% today, in light of this positive news.

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