Hyundai Motor Company ventured to a joint assembly plant in Addis Ababa, Ethiopia. Marathon Motors Engineering company, which belong’s to the greatest long distance athlete in history, Hailegebreselassie, is a business partner.
Hyundai Motor Company inaugurated today its first assembly plant in Addis Ababa today. The car assembly is said to be the first plant in East Africa.
The plant is constructed in Nifas Silk district, Tulu Dimtu locality, and nearly half a billion Ethiopian birr is spent on it, according to a report by FBC.
The executive Director of the Company, Won Hee Lee, arrived in Ethiopia earlier to attend the inaugural ceremony and was greeted up on arrival at Bole International by Birtukan Ayano, State Minister of Foreign Affairs, according to a report by state media – ENA.
Hyundai Ethiopian Assembly plant is a joint venture with Marathon Motor Engineering whose owner is Ethiopia’s legendary long distance runner – Haile Gebreselassie. His company has been importing Hyundai vehicles since 2009.
The plant inaugurated today is said to have the capacity to assemble about 5000 Hyundai cars per year and will assemble eight types of models. Also, it is expected to initially create employment opportunity for about 200 people and will grow to 1000 when the plant operates in full capacity, reported Ethiopian Broadcasting Corporation (EBC)
Last month, German automaker, Volkswagen, signed a memorandum of understanding with Ethiopia’s Investment Commission to open a plant in Ethiopia, which is said to be its first in Sub-Sahara Africa.
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