• Information Technology

Electric cars will now be made in Bangladesh

  • Information Technology
  • 22 August, 2020 16:49:55

Photo: Collected

News Desk: Bangladesh Auto Industries Limited wants to make electric cars in the country under the Bangladeshi brand name. To this end, the company is building a factory in Bangabandhu Sheikh Mujib Industrial City. The work of the factory has already progressed a lot. They want to bring this car to the market next year.

Dongfeng Motor Group Limited, a Chinese company, is a partner of Bangladesh Auto Industries in this car manufacturing project in Bangladesh. It is one of the top car manufacturers in China. The company has joint ventures with several Japanese and European carmakers, including Honda of Japan, Nissan, Citroen of France.

The Chinese company is ranked 695th among the top 2,000 companies in the world according to the 2020 list of the US magazine Forbes. They sell goods worth 1,460 crore a year, which is Tk 1,24,000 crore in Bangladeshi currency.

On the other hand, Bangladeshi entrepreneurs of Bangladesh Auto Industries have businesses in various sectors including information technology, electricity and finance. Mannan Khan is the chairman of the company. He is also the director of the private Madhumati Bank. Regarding car manufacturing, Mannan Khan said, "We will manufacture cars, not additions. The value addition will be about 70 percent. In the near future, a large market for electric vehicles will be created.

We have this investment in mind. ' Bangladesh Auto Industries has taken a total of 100 acres of land to build the factory. Their investment target in this project is one thousand crore rupees. In addition to the car factory, they have set up two separate companies to manufacture car parts and batteries. One is Bangladesh Lithium Battery Limited, whose partner is Jiangsu Ruihong Lithium Company Limited of Hong Kong. Another is called Motor Technology Limited, whose partner is Wuhan Sian Power Technology Company of China.

Regarding the ongoing construction of the factory, Bangladesh Auto Industries said that the physical work of the factory has already been completed by about 60 percent. Besides, a lot of 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 said that there is a sudden complication in 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 lend due to land lease complications.

In this regard, Bangladesh Auto Industries Chairman A Mannan Khan said, "Lenders are saying that the investor has no right to the land leased from Bejar." We want a solution. " So far, three car-related companies have taken land in Bangabandhu Sheikh Mujib Industrial City.

Of this, Uttara Motors has taken 50 acres. They will invest Tk 287 crore. In addition, GPH Steel has acquired 50 acres of land for the Star Allied Venture Tire Factory. Their investment proposal is Tk 750 crore. Runner Automobiles and IFAD Autos are showing interest in taking the land, Beja said. 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 set up a hub for car manufacturing 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.

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