Dewan Farooque Motors Limited (DFML) has successfully assembled over 300 units of the Chinese electric vehicle ‘Honri-VE’ at its assembly facility within ten months of initiating EV production.
In a notification to the Pakistan Stock Exchange (PSX), DFML stated that these units have been delivered to Eco-Green Motors Limited (EGML) under a toll manufacturing agreement for onward distribution to customers.
“Referring to our earlier communication dated October 11, 2024, we hereby inform that more than 300 units of ‘Honri-VE’ have been assembled and handed over to Eco-Green Motors Limited,” the notice read.
The company began EV production in September 2024 after receiving approval from the Engineering Development Board (EDB). DFML and EGML had signed a toll manufacturing agreement in June 2023, allowing DFML to produce Honri-VE vehicles using EGML’s design and supplied materials.
Following the announcement, DFML’s share price rose by Rs1.43, reaching Rs36.99 — a 4.02% increase.
Established on December 28, 1998, DFML is a public limited company engaged in vehicle assembly, progressive manufacturing, and sales in Pakistan.
