ISLAMABAD: Dewan Farooque Motors Limited (DFML) has initiated the manufacturing and assembly of electric vehicles (EVs) with an extended 300-kilometre range for Eco-Green Motors Limited (EGML), further strengthening their ongoing partnership.
The development was announced in a notice submitted to the Pakistan Stock Exchange (PSX) on Thursday. The company stated, “We are pleased to inform you that, in addition to 200km range electric vehicles, Dewan Farooque Motors Limited has now commenced manufacturing/assembling 300km range electric vehicles for Eco-Green Motors Limited.”
The announcement generated a positive response in the market, with DFML’s share price rising by Re0.72 to Rs36.89.
This expansion follows DFML’s earlier disclosure that it had locally assembled over 300 units of the Chinese electric vehicle ‘Honri-VE’ within ten months of starting EV production at its facility. Production began in September 2024 after receiving approval from the Engineering Development Board (EDB).
DFML and EGML entered into a toll manufacturing agreement in June 2023. Under this arrangement, Eco-Green Motors supplies the vehicle design and materials, while DFML handles the assembly and manufacturing at its plant.
Founded in 1998 as a public limited company, Dewan Farooque Motors is engaged in the assembly, progressive manufacturing, and sale of vehicles across Pakistan.
