In June 2024, it signed a tool manufacturing agreement with Eco-Green Motors Limited to manufacture the Henrey-EV electric vehicle.
As a result of this development, the share price of Dewan Farooq Motors Limited rose by 1.8 percent to 52.3 rupees, which is commendable.Dewan Farooque Motors Limited was incorporated in Pakistan in 1998 as a public limited company engaged in assembling, manufacturing and sales of vehicles.SIFC's efforts to transition to electric vehicles will contribute positively to Pakistan's economic stability, environmental sustainability, and technological progress.