Sazgar introduces debut electric vehicle 'ORA 03' to Pakistan market

February 15, 2024 (MLN): Expanding its footprint in Pakistan's automotive sector, Sazgar Engineering Works Limited (PSX: SAZEW) has launched its first-ever Electric Vehicle (EV) car specifically for the local market.

The EV model is named ORA 03 by Great Wall Motor (GWM) of China and comes with a Lithium iron phosphate 47.78 kWh battery, offering a range of 310-400 kilometers.

It boasts a top speed of 160 kilometers/hour and delivers 105kW maximum power with 219 Nm of maximum torque.

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.

While 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, the introduction of 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.

This was further reflected by the massive surge in its production and sales of automobiles, with the company recording its highest-ever 4-wheeler sales in January 2024.

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.

Moreover, in the previous month, 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 Rs267.5, up by 14 rupees or 5.59% DoD.

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