Sazgar Engineering Works Limited (PSX: SAZEW) has announced a major revision to its four-wheeler expansion plan, with the project cost now set at Rs11.5 billion—more than double the previous estimate of Rs4.5 billion. The company has also delayed the launch of its locally assembled New Energy Vehicles (NEVs) to March 2026, extending the timeline from the originally planned rollout in December 2025.
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The announcement was made in a stock exchange filing on Monday, alongside Sazgar’s financial results for the quarter ended March 31, 2025.
As per the revised strategy, the expanded scope of the project includes upgrading the existing paint shop, building new warehousing facilities, and installing a 5.7-megawatt solar power system. Additionally, the company will construct and install new infrastructure to support manufacturing and assembly operations for NEVs, pending regulatory approvals.
The entire expansion will be funded through internal cash generation, signaling the company’s strong financial performance and operational health.
Sazgar’s updated timeline now targets a launch of its CKD (Completely Knocked Down) NEV models before the end of March 2026.
The NEV segment, which comprises hybrid, fuel cell, and battery electric vehicles, presents a sustainable alternative to conventional internal combustion engine (ICE) vehicles. Sazgar had first revealed its interest in NEV assembly in September 2024, later announcing a Rs1.54 billion land acquisition in November to facilitate future growth.
This latest move underscores Sazgar’s long-term commitment to green mobility and domestic manufacturing capabilities, aligning with Pakistan’s evolving automotive landscape.
