Sazgar Engineering Works Limited (SAZEW) has announced its plans to launch a new imported Completely Built Unit (CBU) electric vehicle, the “ORA-07 EV,” in the coming days.
According to a notice sent to the Pakistan Stock Exchange (PSX) on Tuesday, the company will begin accepting bookings for the ORA-07 EV shortly.
“We are pleased to inform you that the Company is planning to launch a new imported Completely Built-in Unit (CBU) “ORA-07 EV” Electric Vehicle within a couple of days, and booking of these vehicles will be commenced accordingly,” read the notice.
The announcement comes as part of Sazgar Engineering’s ongoing efforts to expand its portfolio in the electric vehicle market. The ORA-07 EV is expected to attract significant attention from consumers looking for environmentally friendly transportation options.
ORA 07 is a sub-brand of Great Wall Motors (GWM), a prominent Chinese automotive company known for its focus on electric vehicles (EVs).
GWM has a strong presence in the global automotive industry, with a portfolio that includes brands like Haval, Ora, and Tank, as well as the innovative automotive technology firm, Salon Mecha Technology Co., Ltd.
This launch comes after Sazgar’s initial entry into the electric vehicle market with the locally-assembled Hybrid Electric Vehicle (HEV) under the Haval Jolion HEV brand, which began pre-booking in April.
According to the latest production and sales data, the company produced 1,795 units of three-wheelers, of which 1,624 units were sold in July 2024. For four-wheelers, which include off-road and passenger vehicles, the production stood at 886 units with 825 units sold during the same month.
It is pertinent to mention here that Morgan Stanley Capital International (MSCI) Inc. has included Sazgar Engineering Works in its MSCI Frontier Market Index. With this inclusion, gross inflows in SAZEW are expected at $3.3 million to 6.6 million.
Sazgar Engineering Works Limited was incorporated in Pakistan on September 21, 1991 as a private limited company and converted into a public limited company on November 21, 1994. The company is engaged in the manufacture and sale of automobiles, automotive parts and household electric appliances.
