Regal Motors to Establish An EV Plant In Pakistan

Asadullah

15 Jan 2022

406

Regal Motors to Establish An EV Plant In Pakistan

Regal Automobiles is a leading motorbike manufacturer also made its entry in the car marker with a launch of its SUV and a hatchback. The company is now getting ready to manufacture the electric cars in Pakistan.

According to reports the Regal Motors has submitted an application to get funds of worth 800 million rupees by the Pakistan Stock Exchange PSX for the establishment of electric cars production plant in Pakistan. For this procedure to complete, the company has hired Arif Habib Limited (AHL), Pakistan’s largest securities brokerage, investment banking, and research firm, as its Book Runner.

Shares of Regal Automobiles In PSX

According to PSX official website, the Regal Automobiles has an Initial Public Offering (IPO) of 25 million shares with a floor price of Rs. 32.

The PSX will issue the 75% of the ordinary shares, i.e., 18.75 million to the firm on bidding successfully and the retail investor will get the remaining 25%, i.e., 6.25 million ordinary shares at the time of price issuance.

Regal EV Plant In Pakistan

The Regal Automobiles has decided to invest the fund raised by PSX to establish and EV assembly plant. The Plant will be built at Multan Road, Manga Mandi, Lahore at 3 acres site. The Regal Automobiles has officially signed an agreement with a key supplier of DFSK Motors for the import of machinery of the assembling of electric vehicles in Pakistan.

Prince DFSK is the name of brand under which, Regal is assembling and selling cars. The company has already launched the Prince Pearl hatchback and a crossover SUV DFSK Glory 580 and 580 Pro. It is also speculated that the company is now gearing up to launch DFSK Glory 500. However, we have to wait, whether Regal Automobiles will be successful in EV market or not.

For more updates, news and articles from local and international auto sector stay connected with Gari.PK. You can also check the motorbike prices in Pakistan and Car Prices Pakistan for all used cars and new cars in the market.

Regal Motors Shares PSX Regal EV Plant in pakistan Electric Vehicles in pakistan

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