AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Dewan Farooque Motors Limited has initiated the production of electric vehicles at its assembly plant, marking a significant advancement in Pakistan’s automotive industry. This initiative, supported by the Special Investment Facilitation Council (SIFC), follows a recent tool manufacturing agreement with Eco-Green Motors Limited to produce the Henrey-EV model.
According to Ministry of Information and Broadcasting, the move to electric vehicle production is part of a broader strategy to modernize Pakistan’s vehicle industry and reduce environmental impact. The partnership with Eco-Green Motors, established in June 2024, is expected to bolster the company’s offerings in the rapidly growing electric vehicle market.
This development has positively impacted Dewan Farooque Motors’ market performance, with its share price increasing by 1.8 percent to 52.3 rupees shortly after the announcement. Incorporated in 1998, the company has long been engaged in the assembly, manufacturing, and sales of vehicles, with this new venture representing a significant pivot towards sustainable automotive solutions.
The SIFC’s backing underscores the government’s commitment to supporting economic stability, environmental sustainability, and technological innovation through strategic investments in key sectors such as electric vehicle production.
The post Dewan Farooque Motors Launches Electric Vehicle Production in Pakistan appeared first on pakistannewsgazette.com.