Sazgar to roll out hybrid SUV ‘Tank-500’ by end-March

Sazgar Engineering Works (SAZEW), a Pakistani auto assembler, has announced the rollout of its hybrid sport utility vehicle (SUV), “Tank-500 Hi4-T 4X4 2.0L Turbo AT,” with trial production scheduled by the end of March 2026.

The listed company informed the Pakistan Stock Exchange (PSX) on Monday that the Completely Knocked Down (CKD) model of the vehicle — available in both plug-in hybrid electric vehicle (PHEV) and hybrid electric vehicle (HEV) variants — will mark its entry into the hybrid segment.

“The first rollout of the CKD model of TANK-500 Hi4-T 4X4 2.0L Turbo AT PHEV and HEV shall be made by the end of March, 2026, with trial operation,” read the disclosure.

The development comes amid a gradual shift in Pakistan’s auto market towards energy-efficient vehicles.

Earlier in January, the SAZEW announced the bookings of TANK-500. It was reported that the Tank 500 HEV is priced at Rs20.5 million, ex-factory, while the PHEV variant carries an ex-factory price of Rs22.5 million.

The booking amount was set at Rs3 million for the HEV and Rs3.5 million for the PHEV.

Sazgar plans NEV rollout by FY26, ups CapEx to Rs11.5bn

A PHEV combines a gasoline engine with a larger battery pack than a standard hybrid, allowing it to run on electricity alone for a certain distance. Once the electric range is depleted, the vehicle functions like a regular hybrid, using both the engine and electric motor.

Moreover, SAZEW informed its stakeholders that the company has completed its existing expansion plan of four wheelers, including construction and installation of new assembly line, installation of solar system of 5.7 megawatts and construction of new warehousing facilities, for Rs6.50 billion whereas the balance amount of Rs5 billion regarding paint shop has been made part of the cost of setting up and installation of brand new fully automatic complete paint shop facilities.

Sazgar enters NEV segment with Tank-500 HEV, PHEV

The board has also approved a new expansion plan for the setting up of brand-new, fully automatic, complete paint shop facilities, construction and civil work and installation of ancillary equipment.

The board also approved an estimated budget of Rs22 billion, without the cost of land, for this expansion, which shall be financed through the internal cash generation of the company as well as through bank borrowing.

“After completion of this expansion, total installed production/assembly capacity of the four-wheelers plant shall increase to 54,000 units per annum on a single shift basis,” it added.