July 12, 2024

U Microfinance Bank (U Bank) and Yousuf Dewan Companies have entered into a strategic collaboration to leverage their combined strengths for the provision of innovative financing options for customers, making the ownership of electronic vehicles more accessible and affordable.
Under this partnership, Yusuf Dewan Companies’ customers will be able to benefit from exclusive loan offerings, as well as bundled services, for the ownership of Honri and KIA electronic vehicles, including insurance coverage and registration facilities.
The Memorandum of Understanding was signed recently at a ceremony in Islamabad, by Mr. Mohamed Essa Al Taheri, President & CEO – U Bank, and Mr. Dewan Mohammad Yousuf Farooqui, Chairman – Dewan Group, in the presence of senior management members of both organizations.
Speaking at the signing ceremony, Mr. Mohamed Essa Al Taheri, President & CEO – U Bank commented, “We are thrilled to partner with Yousuf Dewan Companies to facilitate innovative financing solutions for customers interested in EVs. This collaboration is a significant step towards enhanced accessibility to cost-effective means of mobility and will also ultimately contribute to a greener future. By combining our financial expertise with Yousuf Dewan Companies’ strong market presence, we are confident in driving technological and financial innovations further that are beneficial to all stakeholders.”
Speaking at the event, Mr. Dewan Mohammad Yousuf Farooqui, Chairman of Dewan Group, said, “This partnership with U Microfinance Bank marks a significant milestone for us in our mission to provide easy financing solutions. By making it more accessible for people to own EVs and commercial vehicles, we are not only enhancing individual mobility but also contributing to the broader goal of a more sustainable future. Our collaboration with U Bank is a testament to our commitment to driving innovation and making impactful strides in the automotive industry in Pakistan.”

For those who thought that an electric car for the masses of Pakistan was a far-fetched dream, they were awestruck as Eco-Green Motors Limited, under Yousuf Dewan Companies, took the automobile market by storm. Yes, it’s here—an electric car for Pakistanis, to be driven without worrying about fuel prices. Simultaneously, Dewan Farooque Motors Limited marked the return of a legend, bringing back the Shehzore with unmatched features.
Eco-Green Motors Limited Unveils the Honri VE
Eco-Green Motors Limited unveiled the all-new Honri Ve2.0 in a festive event titled “Future Assembled.” The first locally assembled hatchback electric vehicle is now on the roads of Pakistan. “The Honri Ve is nothing short of a dream come true for Pakistan. A recharge takes you 200 kilometers without worrying about fuel. The interior and exterior are futuristic and state-of-the-art. Priced at 3,999,000 PKR, it offers remarkable value for its features,” said Saleha Hassan, Director of Sales, at the event.
Developed with Honri, a Chinese automobile expert, the Ve2.0 is tailored for Pakistani roads. It boasts a 200 km range per charge, advanced technologies like ABS, EBD, and TPMS, and an IP67 dustproof and waterproof lithium battery (warranty: 8 years or 120,000 km). “We are committed to bringing this green change and ensuring vehicle charging decks are installed across Pakistan,” said a Punjab Government representative.
With over nine dealerships across Pakistan, Eco-Green Motors Limited is set to make a significant impact in the automobile market, with more electric vehicles on the horizon.

Dewan Farooque Motors Limited Reintroduces the Shehzore
The Shehzore, a legendary lightweight truck, is back. Earlier today, Dewan Farooque Motors Limited launched the all-new Shehzore at “Future Assembled,” marking the line-off of the Dewan Farooque Motors Limited Sujawal Plant.
“The Kia Shehzore reappears as an unmatched proposition, now offering the ‘GRAND CABIN’ at 7,499,000 PKR and the ‘KING CABIN’ at 4,159,000 PKR, in addition to the standard single-cabin light commercial pickup priced at 3,859,000 PKR. The Shehzore boasts a powerful high-economy engine, the biggest carrying deck with the best loading capacity, focusing on durability and reliability. The Shehzore Double Cabin is the first of its kind in the LCV industry with an extra row of seating along with a cargo carrying deck,” said Saleha Hassan.
Dewan has been a pioneer in the automobile industry since 1998, introducing Kia, Hyundai, and Mitsubishi to Pakistan. The Dewan Farooque Motors Limited Sujawal Plant is one of the largest and most equipped production facilities in Pakistan. With over ten dealerships nationwide, Dewan Farooque Motors Limited is making a strong comeback against well-established players. The KIA K2700 Shehzore, developed with Korean giant KIA, is now locally assembled to meet the needs of the Pakistani commercial vehicle market.
Dewan Carries the Future Again
With the dual introduction of the Honri VE and the Shehzore, Yousuf Dewan Companies are leading Pakistan into a new era of automotive innovation. This launch marks a significant milestone, heralding a future where electric mobility and reliable commercial transport drive Pakistan forward

Karachi, Pakistan – Pak-Qatar General Takaful Limited (PQGTL), a leading provider of Shariah-compliant General Takaful solutions in Pakistan, announced partnership with Dewan Farooque Motors Limited (DFML) to offer motor Takaful coverage for vehicles distributed through their nationwide network.

This collaboration will see PQGTL provide Takaful coverage for both varaints of electric vehicle Honri ,Ve 2.0 and 3.0, offered under the banner of Eco-Green Motors Limited (EGML), and trucks sold through the nationwide distribution network of Dewan Farooque Motors Limited (DFML).

“We are looking forward to having a lasting partnership with Yousuf Dewan Companies for expanding our Takaful coverage to electric vehicles and a wider range of commercial vehicles,” said Mr. Saqib Zeeshan, CEO of PQGTL. “This partnership aligns with our commitment to providing innovative and Shariah-compliant solutions that meet the evolving needs of our customers.”

Ms. Saleha Hassan, Head of Marketing at DFML, said, “We are pleased to collaborate with Pak-Qatar General Takaful to offer our customers with added comfort of comprehensive Takaful coverage for their vehicles. This partnership ensures that our customers, whether they require dependable commercial vehicles or eco-friendly electric vehicles, have access to exceptional motor Takaful protection.”

The partnership highlights PQGTL’s commitment to expanding its reach and providing Shariah-compliant Takaful solutions to a broader customer base across Pakistan. Whether for commercial logistics or personal commuting, PQGTL’s motor Takaful solutions aim to deliver comprehensive coverage for diverse customer needs.