Dewan Farooque Motors Starts Production of Electric Vehicles in Pakistan

Dewan Farooque Motors Limited (PSX: DFML) has started the production of electric vehicles, the company informed the Pakistan Stock Exchange (PSX) on Tuesday. DFML said in a stock filing today that the physical verification of manufacturing facilities of its associated company Eco-Green Motors Limited (EGML) has been granted by the Engineering Development Board (EDB). Production has commenced under the toll manufacturing agreement with EGML, DFML added. The principal activity of the Company is assembling, progressive manufacturing and sale of vehicles in Pakistan. At the time of filing, DFML’s scrip at the bourse was Rs. 52.44, up 2.04 percent or Rs. 1.05 with over 4.5 million shares on Tuesday. Recently, DFML in partnership with Eco-Green Motors launched the Honri Ve 3.0 electric vehicle in June 2024 after the successful launch of the Honri 2.0. The Honri Ve 2.0 features a Ternary Lithium Battery, a Permanent Synchronous motor with 30 kW power, and a top speed of 100 km/h. It offers a 200 km range on a seven-hour charge, with disc brakes in the front and drum brakes in the rear. The latest Honri Ve 3.0 boasts a longer range of up to 300 km per charge, a permanent magnet synchronous motor delivering 35 kW power, and a 29.9 kWh lithium iron phosphate battery. It includes modern features like a rear-view camera and a tire pressure monitoring system.