Sazgar plans to roll out new energy vehicles next year

Competition for producing new energy vehicles (NEVs) has intensified as Sazgar Engineering Works Ltd (SEWL) plans to introduce the completely knocked down (CKD) model before Dec 31, 2025. In a stock filing on Monday, SEWL said the board of directors had approved the plan, which includes the expansion of the existing paint shop, construction of new warehousing facilities, installation of a solar system of 4-megawatt and construction, erection, installation of new manufacturing facilities for the local assembly of NEVs subject to the approval of relevant government regulatory authorities. The board also approved an estimated expansion cost of Rs4.5 billion, excluding land, which will be financed from the internal cash resources.