Fair Technology, a concern of Fair Group, on Tuesday announced that the entity would set up a manufacturing unit of South Korean multinational auto maker Hyundai Motors in the country.
Hyundai passenger vehicles manufactured in Bangladesh would be available in the country after April 2022.
Officials of Fair Technologies came up with the announcement at a memorandum of understanding signing ceremony held at the city’s Westin Hotel.
Fair Technologies, the country’s sole distributor of Hyundai Motor Company, signed the agreement with the Bangladesh HiTech Park Authority with a view to setting up a manufacturing unit of Hyundai in the country.
Terming the initiative a milestone, state minister for information and communication technology Zunaid Ahmed Palak said, ‘When world-famous car brands like Hyundai start being manufactured in Bangladesh, Bangladesh’s prestige in the world will increase a lot and I believe that this factory will make significant contributions to the economy of Bangladesh and employment generation.’
Fair Technology managing director Ruhul Alam Al Mahbub said, ‘We are pleased to announce the Hyundai Car Manufacturing Factory in association with the Bangladesh Hi-Tech Park Authority.’
‘Using Hyundai’s technology and expertise, we will ensure that Hyundai’s world-class cars can be availed by Bangladeshi customers at affordable prices,’ said Mahbub.
Fair Group chief marketing officer Mesbah Uddin said that the installation of the manufacturing unit would be complete by December 2021.
‘Afterwards, production will be carried out on a trial basis in January-March of 2022,’ he said, adding that the ‘Made in Bangladesh’ Hyundai vehicles will be available on the market from April 2022.
Prior to this initiative, Fair Electronics, a concern of Fair Group, started manufacturing electronics appliances, including mobile handsets and televisions of Samsung, in the country.
Bangladesh Hi-Tech Park Authority managing director Hosne Ara Begum, Korean ambassador in Dhaka LEE Jang-keun, ICT ministry senior secretary NM Zeaul Alam, Fair Technology director Mutassim Daiaan and Fair Group adviser Hamid R Chowdhury, among others, were present at the event.
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