Dewan Farooq Motors ties up with EGML to manufacture Honori-VE electric car in Pakistan

Dewan Farooq Motors Ltd (PSX:DFML) has entered into a toll manufacturing agreement with ECO-Green Motors Ltd (EGML) for manufacturing EGML’s Honor-VE (200KM and 300KM range), the automobile assembler informed the main exchange on Thursday.

With this, DFML said it will become the leading manufacturer of electric vehicles in Pakistan. “Its production is expected to start in the month of August 2024,” the stock filing said.

The main activities of the company are assembling, progressive manufacturing and sales of vehicles in Pakistan.

On Wednesday, DFML announced the resumption of commercial production of a “special purpose Kia commercial vehicle” with its product name Kia ‘Shehzaur’ and its rollout/launch ceremony scheduled for June 4, 2024.

On Thursday, DFML shares closed up 8 per cent or Rs 3.3 at Rs 44.73 with a turnover of 25.9 million shares.

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