Islamabad, JULY23: Dewan Farooque Motors Limited (PSX: DFML) declared that the jigs needed for the production of electric cars had been installed.
A toll manufacturing arrangement was announced by DFML earlier in May with ECO-Green Motors Limited (EGML) for the production of EGML’s Honri-VE (200KM and 300KM range).
The business said in a notice to the Pakistan Stock Exchange (PSX) today that the Engineering Development Board’s (EDB) technical team is physically verifying EGML’s production facilities at the company’s assembly plant.
The business had stated in its May statement that car production is anticipated to start in August 2024. The company’s main operations in Pakistan include vehicle assembly, progressive manufacturing, and sales.As of the news filing, DFML’s shares on the exchange were trading at Rs. 40.27, up 10% or Rs. 3.66.
