Report by Engineering Post
Sazgar Engineering Works is all set to launch hybrid SUV Tank-500 and trial production was to commence early April 2026 thus marking its entry into the hybrid vehicle segment.
The company has announced that the model will be available in both hybrid electric vehicle and plug-in hybrid electric vehicle varieties as part of its expansion into energy-efficient vehicles.
The company has already completed its expansion at a cost of Rs 11.5 billion, approved a Rs 22 billion plan to lift four-wheelers production capacity and earmarked another big amount of Rs 5.1 billion for land acquisition for supporting growth plans.
This rollout will be coming alongside a broader expansion strategy of the company which was completing its existing four-wheeler expansion plan worth Rs 11.2 billion including installation of a new assembly line, a 5.7 MW solar system and warehousing facilities. The company has already spent Rs 6.5 billion on the execution of the expansion plan while the remaining Rs 5 billion has been reallocated for setting up a fully automated paint shop facility.
Company’s expansion plan is going to be financed through internal cash generation and bank borrowing with the expected increase in the total installed four-wheeler plant production capacity to 54000 units annually on a single shift basis. The company management has also approved big amount of Rs 4 billion for purchasing about 900 kanals of land near its car plant for supporting future expansion plans. The company was also planning to establish a showroom, after sales services and other services over a 5 kanal commercial plot in Lahore at an estimated cost of Rs1.1 billion.
The company has also approved appointments of Mrs Saira Asad Hameed as Chairperson, Mian Asad Hameed as Chief Executive and Saeed Iqbal Khan as the Executive Director for three years term besides the appointment of Saeed Iqbal Khan as the Executive Director/Chief Operating Officer for the three-wheelers and automotive parts and Mian Muhammad Ali Hameed as the Executive Director /Chief Operating Officer for the car division.
