Sazgar Engineering Works Limited has announced that it plans to roll out its upcoming Plug-in Hybrid Electric Vehicle (PHEV) models, TANK-500 and CANNON, by March 31, 2026, marking a significant step in the company’s expansion into the New Energy Vehicle (NEV) segment.
The announcement was made in the automaker’s annual report, underscoring its commitment to integrating advanced technologies and modern features into its upcoming vehicles in line with the government’s policy framework for sustainable transport.
The company highlighted its recent success with the launch of its first Completely Knocked Down (CKD) PHEV, the HAVAL H6 1.5L, on August 16, 2025. Following this milestone, Sazgar is now preparing for the CKD rollouts of the TANK-500 and CANNON models by the end of the 2026 fiscal year.
The company noted that the auto sector is showing signs of recovery, offering opportunities for automakers to diversify their product lines across petrol, hybrid, plug-in hybrid, and electric vehicle categories.
Sazgar also mentioned that its three-wheeler segment is expected to continue its growth trajectory, delivering stronger sales volumes in the upcoming financial year. Conversely, the tractor wheel segment is facing challenges due to reduced market demand for tractors, signaling a need for strategic focus on more profitable areas of operation.
In line with this strategy, the company’s board has decided to discontinue its home appliances business effective September 1, 2025. The decision was made to concentrate resources on the company’s core businesses and high-growth segments.
Sazgar emphasized that all regulatory and contractual obligations related to the discontinuation have been met, ensuring no disruption for employees, customers, or stakeholders. The company further clarified that it holds no material assets or liabilities connected to the home appliances segment.
Overall, Sazgar is strategically positioning itself as a key player in Pakistan’s NEV market, leveraging its experience in three-wheelers and hybrid vehicles while phasing out non-core operations to focus on innovation and growth in the automotive sector.
The upcoming TANK-500 and CANNON rollouts are expected to reinforce the company’s presence in the new energy and plug-in hybrid market, catering to the growing demand for sustainable and technologically advanced vehicles.
