Sazgar Engineering Works Limited (SAZEW), a Pakistani auto manufacturer, announced on Monday its plans to introduce New Energy Vehicles (NEVs) in the country.
In a notification to the Pakistan Stock Exchange (PSX), the company revealed its intention to launch CKD (Completely Knocked Down) NEV models by December 31, 2025.
The company’s Board of Directors (BoD) has approved an expansion plan that includes constructing new warehousing facilities, upgrading the existing paint shop, installing a 4-megawatt solar system, and setting up new manufacturing facilities for NEV assembly.
NEVs are vehicles powered by alternative energy sources rather than traditional internal combustion engines (ICE), which rely on fossil fuels like gasoline or diesel. NEVs typically fall into three categories: hybrid electric vehicles (HEVs), fuel cell electric vehicles (FCEVs), and battery electric vehicles (BEVs).
Sazgar, known for manufacturing automobiles, three-wheelers, automotive parts, and household electric appliances, stated that the estimated cost for this expansion is Rs4.5 billion, excluding the cost of land. The expansion will be financed through the company’s internal cash reserves.
This announcement follows Dewan Farooque Motors Limited (DFML) beginning EV production at its plant after receiving approval from the Engineering Development Board (EDB). Additionally, last month, Chinese electric vehicle giant BYD entered the Pakistani market, further positioning the country as an emerging hub for NEVs.
