Sazgar Signs MOU To Manufacture EV
Sazgar signed an agreement with a well-known Chinese automaker
The company said the deal is for the manufacturing/assembly, sale, and after-sales service of commercial and passenger vehicles, subject to approval by the relevant government authorities.
Pakistani auto dealer Sazgar Engineering Works Limited has entered into an agreement with a Chinese automaker to manufacture passenger and commercial vehicles.
“We are pleased to inform you that, in addition to the BAIC brand, the company also signed a Vehicle Assembly Technical and Cooperation Agreement with a well-known Chinese automaker,” Sazgar said in a statement on Friday.
The company said the deal is for the manufacturing / assembly, sale and after-sales service of commercial and passenger vehicles, subject to approval by the relevant government authorities.
Sazgar saw more than 50% of his revenue in the first quarter of fiscal 21 when business resumed after closing. Production volume for the company’s three-wheelers increased to 3,888 units, up from 2,479 units seen during 1TFY21.
In January, Sazgar announced his intention to enter the Pakistani auto market with the BAIC D20, which includes a hatchback version and a sedan. BAIC Group is the third largest automotive group in China, selling 3.5 million cars a year.
Sazgar is known to assemble his four cars locally under his greenfield status, which the company acquired under the 2016-21 government automotive development policy.
In addition to other automakers such as KIA, United Motors, Regal Motors, MG Motors, Changan, Proton, Hyundai, and Volkswagen.