SAZEW commences pre-booking of Hybrid Electric Vehicle

April 01, 2024 (MLN): Sazgar Engineering Works Limited (PSX: SAZEW) has commenced pre-booking of a new model of locally assembled/manufactured Hybrid Electric Vehicle (HEV) under the brand "HAVAL JOLION HEV" and CKD roll-out of these vehicles on a commercial scale is expected in April 2024, the company's filing on PSX revealed. 

In February, while expanding its footprint in Pakistan's automotive sector, the company launched its first-ever Electric Vehicle (EV) car specifically for the local market.

Certain crucial interior features of ORA 03 include steering mode, leatherette seats, wireless charging, hotline defrost back view mirror, and 6 6-direction electric driver seat.

The external features include LED electric adjustment headlamps, auto headlight, Daytime Running Lights (DRLs), auto flat wiper, 215/50 R18 alloy wheels and auto flat wiper.

Recently, SAZEW's scrip has substantially benefitted due to significant company advancements. Moreover, introducing this EV car will further contribute to its success.

The company has been witnessed performing more profitably in the market, with its earnings surging to Rs1.4bn in 1HFY24.

Another key development currently on the way for the company includes the acquisition of land worth approximately Rs847 million adjacent to the four-wheeler project.

Earlier this year, the government granted the first license for electric rickshaw manufacturing at a special ceremony organized by the Punjab Transport Department in Lahore.

At the time of writing, SAZEW’s share is being priced in the market at Rs397.5, up by 9.19 rupees or 2.37% DoD.

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