Sazgar Engineering Works Limited (PSX: SAZEW) has significantly revised its four-wheeler expansion strategy, increasing the project cost to Rs11.5 billion — more than double the previous estimate of Rs4.5 billion — and pushing the rollout of its locally assembled New Energy Vehicles (NEVs) to March 2026.
The development was announced in a stock exchange filing on Monday alongside the company’s financial results for the quarter ended March 31, 2025.
According to the notice, the revised expansion blueprint includes the enlargement of the existing paint shop, construction of new warehousing facilities, and installation of a 5.7-megawatt solar power system. It also encompasses the construction and installation of new manufacturing and assembly infrastructure for NEVs, subject to regulatory approvals.
The company plans to fully finance the expansion through internal cash generation, reflecting strong operational performance.
Sazgar had initially planned the NEV rollout for December 2025. The revised timeline now targets a launch before the end of March 2026 for its CKD (Completely Knocked Down) models.
The NEV category includes hybrid, fuel cell, and battery electric vehicles that offer alternatives to traditional internal combustion engine (ICE) cars. Sazgar first unveiled its NEV assembly ambitions in September 2024, followed by a Rs1.54 billion land acquisition plan disclosed in November to support future business needs.
