The Marathon Motors Engineering PLC inaugurated Hyundai car assembly plant worth half a billion birr at the Tulu Dimitu area of the capital Addis Ababa.
The plant was inaugurated by Ethiopian Ministry of Foreign Affairs Dr. Workneh Gebeyehu, CEO of Hyundai Motor Company, William Lee and owner of Marathon Motors Engineering, renowned Athlete Haile Gebresilassie.
Speaking on the occasion, Dr. Workneh said that the government will avail necessary support to investors, who ventured in automotive industry as the industry’s expansion is of interest of the government.
The plant, which will assemble eight types of cars, will have a potential to assemble nearly 10 thousand cars per year.
Electric cars will be among the types of cars the plant planned to produce with employing 30 percent domestic made inputs.
The South Korean Hyundai Motors Company produces 4.8 million cars per year, and avail to the global markets.