Dewan Farooque Motors Limited has announced that the first lot of its Honri EV electric vehicles has been dispatched to Eco-Green Motors Limited, according to the company’s stock filing on Friday.
This marks a significant advancement in the company’s venture into the electric vehicle market.
“In continuation of our earlier letter dated July 23, 2024, in which we had mentioned toll manufacturing of Electric Vehicles Honri EV by the Company. Now, Al-Hamdullilah, Dewan Farooque Motors Limited is successfully assembling the said vehicles under toll manufacturing and the first lot of Electric Vehicles has been dispatched to the Eco-Green Motors Limited,” read the notice sent to the Pakistan Stock Exchange (PSX).
This development is part of Dewan Farooque Motors’ strategic move towards innovation in automotive technology and commitment to sustainable transportation solutions.
On May 30, 2024, Dewan Farooque Motors entered into a toll manufacturing agreement with ECO-Green Motors for manufacturing of Horn-EV (200KM and 300KM range), thereby becoming the leading manufacturer of electric vehicles in Pakistan. In September, Dewan Farooque Motors officially commenced the production of electric vehicles at its assembly plant.
Dewan Farooque Motors, part of the Yousuf Dewan Group, was established in 1998 and entered into contracts with Hyundai and KIA to assemble, manufacture, and sell their vehicles in Pakistan.
