Bangladesh Auto Industries Limited is setting up a factory to make electric cars in the country. The work of this factory has progressed a lot in Bangabandhu Sheikh Mujib Industrial City. They want to bring Bangladeshi brand electric cars to the market by the middle of next year.
Dongfeng Motor Group Limited, a Chinese company, is a partner of Bangladesh Auto Industries in this car manufacturing plant in Bangladesh. It is one of the leading car manufacturers in China. They also have joint ventures with several Japanese and European carmakers, including Honda of Japan, Nissan, Citroen of France.
Dongfeng Motor Group Limited is ranked 695th among the top 2,000 companies in the world according to the 2020 list of the American magazine Forbes. Established in 2001, Dongfeng sells products worth হাজার 1.48 billion a year, which is 1.24 trillion Bangladeshi rupes.
Uttara Motors and GPH Steel’s Star Allied Venture purchase 50 acres in Bangabandhu Industrial City. IFAD Autos and Runner Automobiles are both interested. Mitsubishi and Kawasaki are involved in the debate.
Bangladeshi entrepreneurs in Bangladesh Auto Industries have businesses in various sectors including information technology, power, and finance. Its chairman is A Mannan Khan, a director of the private Madhumati Bank. When asked, he said, “We will produce, not add cars. The value addition will be around 70 percent. ‘He said,’ In the near future, there will be a big market for electric vehicles. We have this investment in mind. ”
Bangladesh Auto Industries has taken a total of 100 acres of land. The investment target is one thousand crore rupees. On this land, they have formed two separate companies for making car parts and batteries and are setting up separate factories. One is Bangladesh Lithium Battery Limited, whose partner is Jiangsu Ruihong Lithium Company Limited of Hong Kong. Another is Motor Technology Limited, whose partner is China’s Wuhan Sian Power Technology Company.
According to Bangladesh Auto Industries, the physical work of their factory is about 80 percent completed. Most of the equipment has arrived at Chittagong port. Recruitment of Chinese, European, and Korean workers is over. They have set a target of producing 35,000 private cars, 50,000 three-wheelers, and 100,000 electric motorcycles a year.
However, Bangladesh Auto Industries has suddenly faced a problem with financing. The three banks, led by Bangladesh Infrastructure Finance Fund Limited (BIFFL), are to lend Tk 332 crore. But in the meanwhile, they do not want to give loans due to land lease complications.
In this regard, the chairman of Bangladesh Auto Industries A Mannan Khan said, “Lenders are saying that the investor has no right to the land leased from Bejar.” We want a solution. ”
Three automobile-related companies have taken land in Bangabandhu Sheikh Mujib Industrial City. Of this, Uttara Motors has taken 50 acres. They will invest 26 crore rupees.
GPH Steel, a well-known steel company, has acquired 50 acres of land for its Star Allied Venture Tire Factory. Their investment proposal is Tk 650 crore. Beja also said that Runner Automobiles and IFAD Autos are showing interest in taking land.
GPH Steel, a well-known steel company, has acquired 50 acres of land for its Star Allied Venture Tire Factory. Their investment proposal is Tk 650 crore. Beja also said that Runner Automobiles and IFAD Autos are showing interest in taking land. The Vice President of Mitsubishi, a well-known Japanese carmaker, visited Bangabandhu Industrial Estate earlier this year to discuss investment plans. Another Japanese carmaker Kawasaki has also shown interest in investing in Bangabandhu Industrial City, Beja said.
Beja wants to build a car manufacturing hub in Bangabandhu Industrial City. The company will give land to the interested companies. Bejar executive chairman Pawan Chowdhury said, “We have set aside another 500 acres of land for car manufacturers.” We want to seize the opportunity. Not only the market of Bangladesh, but also the neighboring countries, cars, machinery, and parts can be manufactured and exported to Bangladesh.