Skip to main content

Dewan Motors launch electric cars in a glorious ceremony

 By Abdul Qadir Qureshi 

(Pakistan News and Features Services)

Way is paved for assembling and later gradual manufacturing of electric cars and bikes in Pakistan with the launching of electric cars by the Dewan Motors Limited (DML), a reputed name in the automobile sector, at a glorious launch ceremony at the Convention Centre of DHA Golf Club on June 4. 

The Chairman of Senate, Syed Yusuf Raza Gilani, also a former Prime Minister, was the guest of honour as hundreds of participants from various walks of life celebrated another remarkable achievement by Pakistan. 

Speaking on the occasion, he acknowledged and applauded the ground breaking initiative undertaken by the Yousuf Dewan Companies (YDC) in the automotive sector. 

“The establishment of a state-of-the-art vehicle assembly plant equipped with cutting-edge robotics technology, signifies the strength and capabilities of the company,” he remarked. 

He was confident that, based on its reputation and track record, the YDC will not only meet but exceed the expectations, paving the way for Pakistan to become a major player in the global automotive market. 

The Senate Chairman extended his support for the ecosystem being incorporated into the automotive industry, particularly the emphasis on sustainability and environmental responsibility. 

“As we move towards a greener future, it is imperative that we prioritize eco-friendly practices and technologies,” he emphasized. 

He described the YDC’s commitment to this cause as commendable and sets a positive example for other industries to follow. 

“Indeed, the year 2024 marks the beginning of a new era in the automotive industry we applaud Chairman Dewan Yousuf and the YDC for taking the first bold step into this future,” he complimented. 

Earlier in his welcome address, Dewan Muhammad Yousuf Farooqui announced the YDC collaboration with KIA of Korea and HORNI of China, two of the global leaders in the automotive and technology sectors respectively. 

“This partnership makes a significant milestone in our quest to revolutionize the automotive landscape and pave the way for a sustainable eco-friendly future. We are on the cusp of a transformative journey, one that will not only redefine Pakistan’s automotive industry but also prosper our nation towards a brighter and more sustainable future with the vision of an electric Pakistan-a Pakistan where innovation thrives, where economic growth is fueled by sustainable practices and where we lead the charge towards a greener tomorrow,” he elaborated. 

Dewan Yousuf stated that in the coming years, Pakistan will not only witness the assembly of small electric cars but also emerge as a key player in the global electric vehicle market. 

“We are laying the groundwork for a robust infrastructure that will support the widespread adoption of electric vehicles across the country. This includes the establishment of charging stations in strategically positioned throughout Pakistan. 

Dewan Yousuf shared that the YDC was building an entire ecosystem, from production to consumption with sustainability at its core. 

“We envision Pakistan as a hub for battery manufacturing, leveraging our resources and expertise to produce cutting-edge battery technology. This will not only reduce our reliance on imports but also create employment opportunities and foster technological innovation within our borders,” he hoped. 

He mentioned that first step towards the goal had already been taken by renewing their partnership with KIA and commencing the assembly of the Horni in Pakistan. Earlier the Senior Vice-President of KIA Corporation, IK Tae Kim, and Consul General of Korea, Yi Sung Ho, also spoke at length on the occasion. 

The memorable ceremony was largely attended by Ambassadors, Consul Generals, and dignitaries from financial institutions and stock exchange besides the movers and shakers from various sectors of automotive sector. 

On this occasion, two agreements were also signed for manufacturing batteries for electric cars and establishment of charging stations in Pakistan. 

Dewan Motors has launched Honri Ve, its first small electric vehicle (EV) with the collaboration of Eco-Green Motors Limited. The vehicle was revealed during the ceremony and the guests were allowed to inspect its different features.


Popular posts from this blog

THK Associates (Private) Limited: Shares Registrar

THK Associates (Pvt) Limited was formed in 1989. The company is engaged in providing specialized services relating to the corporate sector and in particular acts as share transfer agent for a number of companies. THK Associates (Pvt) Limited is one of the leading service provider of Share Registrar, Transfer Agent, Balloters for IPO’s and Share Accounting Services and is managed and run by a set of professionals having indepth knowledge and expertise of organizing and managing diversified corporate activities including depository related Share Registrar activities. THK Associates (Pvt) Limited, previously an associate of KPMG Taseer Hadi & Co., has been restructured in terms of requirements of Clause XL of the Code of Corporate Governance and the shareholding of THK partners has been divested in the year 2004. Mr. Yunus Dawood, Chief Executive of DYL Motorcycle Limited, a shareholder and Director was appointed as Chairman of the Company in 2008. Mr. Javed Iqbal, former Chairman an

SECP initiates 86 show-cause proceedings against compamies

The SECP’s Enforcement Department— while enforcing compliance of corporate and allied laws— initiated 86 show-cause proceedings and concluded 54 proceedings against chief executives, directors and auditors of companies in February and March. While facilitating companies to strengthen their capital base, the department allowed three listed companies to issue shares by way of otherwise than right at a discount and at par.  In order to strengthen the existing regime of Corporate Social Responsibility (CSR) reporting, the SECP has joined hands with the ICAP for the external assurances of the CSR reports.  CSR reports assist organizations in understanding and communicating their vision of combining a company’s profitability with social responsibility and environmental care. Both the SECP and the ICAP have reaffirmed their commitment to developing a framework for external assurance in accordance with prominent international assurance standards, and within a mutually agreed time f

Chairman SECP Reaffirms Commitment to Facilitate Businesses

The Securities and Exchange Commission of Pakistan (SECP), as part of its efforts to promote ease of doing business through meaningful stakeholder engagement, held an interactive virtual session with representatives of Overseas Investors Chambers of Commerce & Industry (OICCI).   The session was chaired by the Chairman SECP, Aamir Khan, who briefed the participants about recent improvements in the regulatory ecosystem and highlighted some key changes, including introduction of digital certificate of incorporation, creation of special portal for banks to facilitate account opening, digitization of account opening process for resident and non-residents for investment in the capital market etc. These reforms have greatly improved efficiency of processes, which have been duly reflected in country’s global rankings.   During the session, the Chairman apprised the OICCI’s representatives about SECP’s future endeavors in this regard to simplify regulatory requirements, reduce compliance c