Dewan Motors commences EV production in Pakistan

WEB DESK: Dewan Farooque Motors Limited (DFML) has announced a major step forward in the automotive industry with the installation of manufacturing equipment for electric vehicles (EVs).

This development was disclosed in a notice issued to the Pakistan Stock Exchange (PSX) today.

The new production line is part of a strategic partnership between DFML and ECO-Green Motors Limited (EGML), aimed at boosting the electric vehicle market in Pakistan. As part of this collaboration, DFML has begun integrating the necessary jigs and machinery for EV assembly.

Additionally, the Engineering Development Board’s technical team is currently conducting a physical inspection of EGML’s manufacturing facilities at DFML’s assembly plant to ensure compliance with industry standards.

This move aligns with DFML’s commitment to delivering high-quality products and exceptional after-sales service through its extensive dealership network across the country.

In response to this announcement, DFML’s stock price surged to its upper limit of 10 per cent today, reflecting investor optimism surrounding the company’s new venture into electric vehicle production.