AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Dewan Farooque Motors Limited has announced significant progress in its partnership with ECO-Green Motors Limited (EGML) by completing the installation of essential manufacturing components for electric vehicles. This development is part of an ongoing toll manufacturing agreement aimed at boosting the production capabilities at Dewan Farooque’s assembly plant.
According to information available from the Pakistan Stock Exchange (PSX), the newly installed Jigs, crucial for the assembly of electric vehicles, mark a key step in the collaboration between Dewan Farooque Motors and EGML. Additionally, a team from the Engineering Development Board (EDB) is currently conducting a physical verification of the manufacturing facilities to ensure that all technical requirements meet the highest standards.
This initiative follows the company’s previous announcement on May 30, 2024, detailing the agreement with EGML. This strategic move underscores Dewan Farooque Motors’ commitment to enhancing its manufacturing infrastructure and tapping into the growing market for electric vehicles in the region.
Stakeholders, including Trading Right Entitlement (TRE) Certificate holders of the Exchange, have been updated on these advancements, keeping them informed of the significant strides the company is making towards modernizing its production lines and embracing innovative automotive technologies.