Business Desk :
Fair Technology Limited (FTL) on Saturday announced its exclusive partnership with South Korean automobile giant Hyundai aiming to set up car assembly plant in Bangladesh by the middle of next year.
“We are committed to build the car assembling ecosystem in the country and plans to roll our own plant in-between middle and second half of next year,” said Mohammed Mesbah Uddin, chief marketing officer of Fair group, the parent company of FTL, in a virtual launching ceremony of Hyundai car’s sole distributorship, said a press release.
He said they have started discussion with the government, especially with the national board of revenue for some tax issues and if found a clear direction FTL will move faster to make preparation for the plant.
“Bangladesh is still a recondition car dominant market as only 25 percent cars sold here are new and our target is to reshape the market,” said Mesbah unveiling their future vision.
FTL has aimed to upgrade the market share of brand new car up to 50 percent within next 3-4 years, he added.
This latest move by a local company is the outcome of government’s favourable policy for car assembling industry in the country followed by few others.
Fair Group is already manufacturing a huge variety of electronic goods of Samsung in their local plant in Narsingdi including smartphones, television, refrigerator, washing machine, air conditioner, micro oven, air purifier and different kinds of home appliances.
“Our vision is to transform Bangladeshi car market and provide the best quality products to the consumers,” said FTL director Mutassim Daiaan.
He said Hyundai has the best quality car lineup and Fair Technology will provide the world class buying experience in their showroom as well as offer best quality after sales service.
The Hyundai Motor Company, known as Hyundai Motors, is a South Korean multinational automotive manufacturer headquartered in Seoul.
Fair had planned to launch the cars any time between March and April but Covid-19 has forced them to revisit their plans, said Mesbah.
He said they have fixed two top priorities – one is to ensure best quality after sale service and second one is to ensure parts availability, and working on it to ensure that two services.
FTL meanwhile has developed a training module for the mechanics across the country and will provide them training so customers can easily get support from them. “We will also try our best to ensure availability of the parts for cars across the country,” said Mesbah.
FTL also has plans to establish a recycling industry in Bangladesh so consumers will not be faced with any hassle about resale issues, he said.
Fair Technology Limited (FTL) on Saturday announced its exclusive partnership with South Korean automobile giant Hyundai aiming to set up car assembly plant in Bangladesh by the middle of next year.
“We are committed to build the car assembling ecosystem in the country and plans to roll our own plant in-between middle and second half of next year,” said Mohammed Mesbah Uddin, chief marketing officer of Fair group, the parent company of FTL, in a virtual launching ceremony of Hyundai car’s sole distributorship, said a press release.
He said they have started discussion with the government, especially with the national board of revenue for some tax issues and if found a clear direction FTL will move faster to make preparation for the plant.
“Bangladesh is still a recondition car dominant market as only 25 percent cars sold here are new and our target is to reshape the market,” said Mesbah unveiling their future vision.
FTL has aimed to upgrade the market share of brand new car up to 50 percent within next 3-4 years, he added.
This latest move by a local company is the outcome of government’s favourable policy for car assembling industry in the country followed by few others.
Fair Group is already manufacturing a huge variety of electronic goods of Samsung in their local plant in Narsingdi including smartphones, television, refrigerator, washing machine, air conditioner, micro oven, air purifier and different kinds of home appliances.
“Our vision is to transform Bangladeshi car market and provide the best quality products to the consumers,” said FTL director Mutassim Daiaan.
He said Hyundai has the best quality car lineup and Fair Technology will provide the world class buying experience in their showroom as well as offer best quality after sales service.
The Hyundai Motor Company, known as Hyundai Motors, is a South Korean multinational automotive manufacturer headquartered in Seoul.
Fair had planned to launch the cars any time between March and April but Covid-19 has forced them to revisit their plans, said Mesbah.
He said they have fixed two top priorities – one is to ensure best quality after sale service and second one is to ensure parts availability, and working on it to ensure that two services.
FTL meanwhile has developed a training module for the mechanics across the country and will provide them training so customers can easily get support from them. “We will also try our best to ensure availability of the parts for cars across the country,” said Mesbah.
FTL also has plans to establish a recycling industry in Bangladesh so consumers will not be faced with any hassle about resale issues, he said.
