Sazgar plans NEV rollout by FY26, ups CapEx to Rs11.5bn
The update was provided in an analysts' briefing attended by brokerage houses on Friday.
'The company recently announced that it had revised the cost of its CapEx from the earlier Rs4.5bn to Rs11.5bn on its new NEV plant manufacturing/assembly facility and other cost efficiency projects which include: 1) expansion of existing paint shop, 2) construction of new warehousing facilities, and 3) installation of 5.7MW solar power plant,' said JS Global, who attended the corporate briefing, in its report on Friday.
'The first rollout of NEV vehicles, which will most likely include ORA vehicles, is expected in the latter part of FY26,' it added.
Sazgar to launch ORA-07 EV in Pakistan
ORA is a sub-brand of Chinese automotive giant Great Wall Motors (GWM), which specialises in EVs. GWM is a major player in the global automotive industry, with a portfolio that includes well-known brands such as Haval, Ora, and Tank, along with the innovative automotive technology firm Salon Mecha Technology Co., Ltd.
Furthermore, Sazgar management reaffirmed their plans to launch GWM Tank 500 (Luxury SUV) and are also considering PHEV models, said JS Global.
Moreover, the company's production capacity is expected to increase from roughly 40 units per day currently to around 90 after the expansion, it said.
'[Sazgar's] management apprised that these new vehicles will not fall under the greenfield status,' read the report.
JS Global was of the view that the automaker is prioritizing volumetric growth and the launch of its NEV line-up is expected to help preserve margins depending on the incentives given in the upcoming NEV policy.
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