Hyundai begins SUV production in new BD unit
Fair Technology sets up the plant in Gazipur
FE REPORT | Friday, 20 January 2023
South Korean automobile giant Hyundai has begun SUV production in its new factory in Bangladesh.
Fair Technology, local partner of the multinational, established the factory at Bangabandhu Hi-Tech City in Kaliakoir, Gazipur.
Industries Minister Nurul Majid Mahmud Humayun formally inaugurated the plant at a ceremony held on the factory premises on Thursday.
State Minister for Information and Communication Technology (ICT) Zunaid Ahmed Palak, South Korean Ambassador to Bangladesh Lee Jang-keun, Industries Secretary Zakia Sultana, Fair Group Chairman Ruhul Alam Al Mahbub and Director Mutassim Daiaan, and Managing Director and CEO of Hyundai Motors India Unsoo Kim spoke on the occasion, among others.
The factory is now manufacturing Hynudai's Creta SUV model. Later, it will gradually produce other brands of Hyundai SUVs and sedans.
Every Creta SUV is manufactured by importing more than 1,000 parts and multiple layers of painting in its own paint shop.
The factory is now operating one shift daily at the beginning. It will be able to produce 3,000 Creta SUVs annually. The number will gradually reach 10,000 vehicles every year.
The company sources have said it would reveal the SUV price within this week.
Fair Technology has already established sales and service centres in Dhaka and Chattogram, and is expanding the facility to other cities.
Speaking on the occasion, the industries minister said Bangladesh has made significant economic progress, which is reflected in development of the hi-tech industries.
He also assured the entrepreneurs concerned of providing all necessary support.
"Made in Bangladesh Hyundai SUV will run on the streets now as a symbol of fast-moving Bangladesh," he added.
Mr Palak said inauguration of the hi-tech industry is a testimonial of Bangladesh's economic progress, capabilities and potentials for the future.
"The factory, aimed at meeting the growing demand for vehicles, will also help establish a Smart Bangladesh by 2041," he noted.