Dewan Farooque Motors Limited (DFML) has commenced manufacturing and assembly of 300km range electric vehicles (EVs) for Eco-Green Motors Limited (EGML), marking a significant expansion of their earlier collaboration, which focused on 200km range EVs.

The company announced the development in a notice to the Pakistan Stock Exchange (PSX) on Thursday, stating: “We are pleased to inform you that in addition to 200km range of electric vehicles, Dewan Farooque Motors Limited has now commenced manufacturing / assembling of 300km range of electric vehicles for Eco-Green Motors Limited.”

The announcement spurred investor interest, pushing DFML’s share price up by Re0.72 to Rs36.89 at the time of the report.

Just a day earlier, DFML had revealed it had locally assembled over 300 units of the Chinese electric vehicle ‘Honri-VE’ within ten months of launching EV production at its assembly facility.

DFML began production of EVs in September 2024 after receiving approval from the Engineering Development Board (EDB). The company had entered into a toll manufacturing agreement with EGML in June 2023 to manufacture Honri-VE units.

Under the agreement, Eco-Green Motors provides the vehicle design and materials, while DFML is responsible for manufacturing the vehicles at its plant.

DFML, incorporated in Pakistan in 1998 as a public limited company, is engaged in the assembly, progressive manufacturing, and sale of vehicles across the country.