Sazgar Engineering Works Limited has announced plans to roll out its upcoming Plug-in Hybrid Electric Vehicle (PHEV) models, TANK-500 and CANNON, by March 31, 2026, as part of its continued push into the New Energy Vehicle (NEV) segment.
The listed automaker disclosed the development in its annual report on Wednesday.
“The company has successfully launched its first CKD [Completely Knocked Down] PHEV HAVAL H6 1.5L on August 16, 2025. In addition, CKD rollouts of TANK-500 and CANNON PHEVs are planned by March 31, 2026,” it said.
SAZEW said the auto sector is showing encouraging signs of recovery and gradually regaining momentum.
“This resurgence is providing opportunities for the auto assemblers to expand their product offerings across multiple categories, including petrol, hybrid, plug-in hybrid and electric vehicles. Aligned with the positive outlook, Sazgar remains committed to the introduction of New Energy Vehicles (NEVs) equipped with advanced technologies and modern features in line with the government’s policy framework,” it added.
Sazgar plans NEV rollout by FY26, ups CapEx to Rs11.5bn
The automaker shared that its three-wheeler segment is also expected to maintain its growth trajectory and deliver stronger sales volumes in the coming financial year.
“However, the tractor wheel segment is struggling for its survival due to a reduction in demand for tractors in the market,” it said.
Moreover, the company informed that its board has decided to discontinue the home appliances business effective from September 01, 2025.
“The decision has been made in the best interest of the shareholders with a view to focusing the company’s resources on its core businesses and more profitable segments,” it said.
The company shared that all necessary regulatory requirements and contractual obligations relating to the discontinuation have been fulfilled without any disruption to employees, customers or stakeholders.
“Furthermore, the company holds no material assets or liabilities pertaining to the segment of home appliance business.”
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