{"id":11178,"date":"2024-12-07T04:04:00","date_gmt":"2024-12-07T04:04:00","guid":{"rendered":"https:\/\/gsrra.com\/?p=11178"},"modified":"2025-09-26T18:11:18","modified_gmt":"2025-09-26T18:11:18","slug":"honri-ve-dewan-farooque-motors-assembles-over-100-units-of-chinese-ev-in-3-months","status":"publish","type":"post","link":"https:\/\/gsrra.com\/?p=11178","title":{"rendered":"\u2018Honri-VE\u2019: Dewan Farooque Motors assembles over 100 units of Chinese EV in 3 months"},"content":{"rendered":"\n

<\/a><\/p>\n\n\n\n

<\/a><\/a><\/a><\/a><\/a>Dewan Farooque Motors Limited (DFML) has locally assembled more than 100 units of a Chinese electric vehicle (EV) named \u2018Honri-VE\u2019 in the first three months since the company\u00a0commenced production of EVs at its assembly plant<\/a>.<\/strong><\/p>\n\n\n\n

In a notification to the Pakistan Stock Exchange (PSX), the company informed that the first 100 units had been handed over to the Eco-Green Motors Limited for onward deliveries to its customers.<\/p>\n\n\n\n

While talking to Business Recorder<\/em>, DFML Director & Company Secretary Muhammad Hanif German said one can compare \u2018Honri-VE\u2019 with Japan\u2019s Suzuki Motor brands like Wagon R, Cultus and Mehran.<\/p>\n\n\n\n

https:\/\/35d63f591220c0372d3346c6b6af3f4c.safeframe.googlesyndication.com\/safeframe\/1-0-40\/html\/container.html<\/a><\/p>\n\n\n\n

\u201cIt would be better to compare Honri-VE with Wagon R in terms of interior\u2026.(seating) capacity,\u201d Hanif German said. \u201cOur cars have already hit the roads.\u201d<\/p>\n\n\n\n

The firm has introduced two variants<\/a> of the Chinese electric car including Honri-VE 0.2 and Honri-VE 0.3. The company claim they can move 200km and 300km in a single full charge and are priced at Rs3.99 million and Rs4.99 million, respectively.<\/p>\n\n\n\n

DFML shares progress on EV manufacturing, share price hits upper limit<\/a><\/strong><\/p>\n\n\n\n

Following the announcement, DFML\u2019s share price jumped 5.17% (or Rs2.10) to close at Rs42.74 with 8.2 million shares turnover at the PSX in the day.<\/p>\n\n\n\n

The company secretary stood optimistic about the future of car manufacturing industry in Pakistan, adding the passenger car sales was on a \u201cfast recovery since car manufacturers and assemblers cut down unit prices in the recent past\u201d.<\/p>\n\n\n\n

\u201cThe demand for electric vehicle is sharply surging compared to oil-based engines in Pakistan.\u201d<\/p>\n\n\n\n

Hanif German said car dealers have seen a surge in demand as buying a new car on bank financing has \u201cagain become feasible\u201d since the central bank cut its key policy rate<\/a> by a cumulative 700 basis points in the past five-months to 15% at present compared to record high at 22% in June 2024.<\/p>\n\n\n\n

\u201cMany banks are offering car financing at a fixed interest rate ranging between 12-14%.\u201d<\/p>\n\n\n\n

Arif Habib Limited reported earlier this week \u201cauto financing rose by 3.7% month-on-month, reaching Rs236 billion in October compared to Rs228 billion in September 2024.\u201d<\/p>\n\n\n\n

DFML said in September 2024 that<\/a> it commenced production of the electric vehicle at its assembly plant after receiving approval from the Engineering Development Board (EDB).<\/p>\n\n\n\n

Back in June, the company said it entered into a toll manufacturing agreement with the ECO-Green Motors Limited (EGML) for manufacturing EGML\u2019s Honri-VE.<\/p>\n\n\n\n

Under the toll manufacturing agreement between two companies, one owns a design or idea for a product and supplies materials to the other to manufacture the product or parts of it.<\/p>\n\n\n\n

Incorporated in Pakistan on December 28, 1998 as a public limited company, DFML is engaged in assembling, progressive manufacturing and sale of vehicles in Pakistan.<\/p>\n\n\n\n

Reference Link:- https:\/\/www.brecorder.com\/news\/40336110<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Dewan Farooque Motors Limited (DFML) has locally assembled more than 100 units of a Chinese electric vehicle (EV) named \u2018Honri-VE\u2019 in the first three months since the company\u00a0commenced production of EVs at its assembly plant. In a notification to the Pakistan Stock Exchange (PSX), the company informed that the first 100 units had been handed […]<\/p>\n","protected":false},"author":1,"featured_media":11179,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[2],"tags":[7387,4179,132,849,36,7388,850,60],"class_list":["post-11178","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sample-category","tag-honri-ve-dewan-farooque-motors-assembles-over-100-units-of-chinese-ev-in-3-months","tag-automotive-industry","tag-economy","tag-electric-vehicles","tag-pakistan","tag-trends-of-pakistani-automotive-industry","tag-evs","tag-geopolitics"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts\/11178","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11178"}],"version-history":[{"count":1,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts\/11178\/revisions"}],"predecessor-version":[{"id":11180,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts\/11178\/revisions\/11180"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/media\/11179"}],"wp:attachment":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}