Star Business Report
Fri Jan 20, 2023 12:00 AM Last update on: Fri Jan 20, 2023 02:01 AM
Workers are seen inspecting the chassis of Hyundai SUVs being produced at a local manufacturing facility operated by Fair Technology. With this, the South Korean automobile company becomes the third multinational carmaker to have its vehicles manufactured in the country. PHOTO: Mahmudul Hasan
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Workers are seen inspecting the chassis of Hyundai SUVs being produced at a local manufacturing facility operated by Fair Technology. With this, the South Korean automobile company becomes the third multinational carmaker to have its vehicles manufactured in the country. PHOTO: Mahmudul Hasan
“Made in Bangladesh” Hyundai motor vehicles will hit the streets next week as Fair Technology yesterday commenced production at the country’s first manufacturing facility for cars designed by the South Korean automobile brand.
Set up on two industrial plots at the Bangabandhu Hi-Tech Park in Kaliakoir of Gazipur, the factory has already produced 100 units of Hyundai Creta, a highly popular subcompact crossover SUV.
For all latest news, follow The Daily Star’s Google News channel. Each Hyundai Creta was manufactured using more than 1,000 parts imported from nine different countries, according to company officials.
Other designs of Hyundai SUVs and sedans will be gradually produced as well, they said.
Mutassim Daiaan, director and CEO of Fair Technology, said they believe this is a highly significant milestone in Bangladesh’s economic progress.
“We humbly express our pride at proving the country’s ability to produce the world’s best Hyundai cars,” he added.
Daiaan then informed that the vehicles will hit markets at highly competitive and affordable prices.
Besides, world-standard after sales service and the availability of all spare parts has also been ensured, he said.
Initially, the factory will produce 3,000 Hyundai Creta SUVs each year. However, the number will gradually increase to some 10,000 units annually.
“We are proud that the world’s third largest automotive company has chosen Bangladesh to set up a manufacturing plant,” said Zunaid Ahmed Palak, the state minister for ICT.
“It is also a stamp of approval showing that the country’s capabilities have grown,” he added.
Palak went on to say that the plant currently employs about 300 people but is expected to create about 5,000 jobs in the future.
The factory’s inauguration is a strong step towards implementing the national vision, “Smart Bangladesh”, said Industries Minister Nurul Majid Mahmud Humayun.
“Made in Bangladesh Hyundai SUVs will now run on the streets as a symbol of fast-moving Bangladesh,” he added.
Ruhul Alam Al Mahbub, chairman of Fair Group, said setting up this factory is just the beginning of their efforts in the automobile industry.
Photo: Mahmudul Hasan
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Photo: Mahmudul Hasan
“With the help of the government, we will grow further and ultimately realise the dream of one family, one car,” he added.
Lee Jang-keun, the South Korean ambassador to Bangladesh, said this year marks the 50th anniversary of Korea-Bangladesh diplomatic ties.
“And today, we are witnessing another significant development in the Korea-Bangladesh partnership,” he added.
Jang-keun then said the opening of a Hyundai factory in Bangladesh can be a game changer, not only in the local automobile market, but also in the overall partnership between South Korea and Bangladesh.
Unsoo Kim, managing director of Hyundai Motor India, attended the ceremony as guest of honour.
Capt (retd) AB Tajul Islam, chairman of the parliamentary standing committee on the Ministry of Disaster Management and Relief, Zakia Sultana, secretary of the industries ministry, and Dr Bikarna Kumar Ghosh, managing director of the Bangladesh Hi-Tech Park Authority, were also present.
