IFAD Autos PLC has exported air-conditioned buses to Bhutan, marking a significant shift from the country's traditional reliance on imported vehicles.
In a first in the country's history, IFAD Autos has set a new precedent by producing and exporting 11 buses, says a statement.
As the first lot of air-conditioned buses makes its way to Bhutan, the growing interest from neighbouring countries such as Nepal signals a promising future for further exports.
Iftekhar Ahmed Tipu, Chairman of IFAD Autos, emphasised the potential for further growth in the market.
He said if the government supports vendor development, there is market potential for over 100 air-conditioned buses every year in Bhutan.
"We are also getting queries from SAARC member countries like Nepal. This will not only bolster Bangladesh's position as a regional hub for automotive manufacturing but also assures further encouragement from the authorities, paving the way for more such successes and enhancing the country's local bus-building industry, thereby contributing to economic growth," he said.
IFAD Autos, a subsidiary of IFAD Group, has been a key player in Bangladesh's automobile sector since its establishment in 1985.
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