SAZEW to launch ORA-07 EV in coming days

MG News | August 13, 2024 at 01:05 PM GMT+05:00

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August 13, 2024 (MLN): Sazgar Engineering Works Limited (PSX: SAZEW) is planning to launch a new imported Completely Built-in Unit (CBU) "ORA-07 EV" Electric Vehicle within a couple of days.

According to a notice issued by the company to PSX today, the booking of these vehicles will commence soon.

In another notable development for the company, the Global index provider Morgan Stanley Capital International (MSCI) has transferred SAZEW to its Frontier Market (FM) Index.

This shift represents a significant positive change for SAZEW's stock, which is currently on an upward trend.

Yesterday, the company also disclosed its monthly sales figures in which it recorded a substantial rise of 511.11% YoY in the sale of four-wheel off-road and passenger vehicles in July 2024.

In addition to the four-wheelers, the company sold 1,624 auto rickshaws, 113.4% YoY higher than the topline of 761 units recorded in the same period last year.

SAZEW is a premier CNG 4 Stroke Auto Rickshaw (3 Wheelers) and Automotive Wheel Rims manufacturer.

With manufacturing facilities based in Pakistan and a Global Dealer Network, Sazgar is leading the Pakistani market and exporting to international markets.

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