Dewan Farooque Motors Limited (PSX: DFML) has entered into a toll manufacturing agreement with ECO-Green Motors Limited (EGML) for manufacturing of EGML’s Honri-VE (200KM and 300KM range), the automobile assembler informed the main bourse on Thursday.
With this, DFML said it will become the leading manufacturer of electric vehicles in Pakistan. “The production thereof is expected to commence in the month of August 2024,” the stock filing added.
The principal activity of the Company is assembling, progressive manufacturing, and sale of vehicles in Pakistan.
On Wednesday, DFML announced the resumption of commercial production of “Special Purpose KIA Commercial Vehicle” with its product name KIA ‘SHEHZORE’ and its rollout/launch ceremony scheduled on June 4, 2024.
DFML’s scrip at the bourse closed at Rs. 44.73, up 8 percent or Rs. 3.3 with a turnover of 25.9 million shares on Thursday.
Source: | Published May 30, 2024 | 4:16 pm
