Sazgar Engineering Works Limited (PSX: SAZEW) is gearing up for the launch of its new imported Completely Built-in Unit (CBU), the “ORA-07 EV” electric vehicle, in the coming days.
The company announced today in a notice to the Pakistan Stock Exchange (PSX) that bookings for the ORA-07 EV will open soon, marking a significant step in its expansion into the electric vehicle market.
ORA 07 is a sub-brand of the Chinese automotive giant Great Wall Motors (GWM), renowned for its specialization in electric vehicles. GWM is a significant force in the global automotive industry, boasting a diverse portfolio that includes prominent brands such as Haval, Ora, and Tank, as well as the cutting-edge automotive technology firm Salon Mecha Technology Co., Ltd.
This launch comes on the heels of Sazgar’s earlier foray into the electric vehicle market with the locally-assembled Hybrid Electric Vehicle (HEV) under the Haval Jolion HEV brand, which began accepting pre-bookings in April.
In 2022, Sazgar Engineering Works Limited completed the manufacturing facilities for Haval SUVs, following the government’s grant of green-field status in 2021, allowing them to produce these vehicles locally.
As Pakistan’s largest rickshaw manufacturer, Sazgar also exports its three-wheel vehicles. Additionally, the company has introduced another Chinese automaker, BAIC, to the Pakistani market. BAIC has launched several models, including the D20 vehicle, the X25 crossover, and the BJ40-Plus off-roader SUV.
While the electric vehicle market in Pakistan is still in its early stages, it is showing promising growth.
Adding to its recent achievements, Sazgar Engineering Works reported a remarkable 511.11% year-on-year increase in the sales of four-wheel off-road and passenger vehicles for July 2024.
