Karachi September 10 2024: Dewan Farooque Motors Limited starts manufacturing of Electric Vehicles after the approval of Engineering Development Board, according to company filing to the exchange.
Share price of the company surge 81 paisa or 1.58 percent after the announcement at Pakistan Stock Exchange.
“Regarding the physical verification of manufacturing facilities of Eco-Green Motors Limited (“EGML”) at Company’s assembly plant by the Engineering Development Board’s (EDB), the approval of which has been received and accordingly the production of electric vehicles has now been started at our assembly plant under the toll manufacturing agreement with our associated company EGML” states the notification.
