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The plant is forex crunch news below 10pc of its capacity. Marathon Motor Forex crunch news, a vehicle assembler operating at less than 10pc of its capacity due to the forex crunch, unveiled three new Hyundai models last week. It is also set to launch a new electric car model. The company, co-founded by world record holding athlete and businessman Haile Gebresilassie, sells the new models for betweenBr to 6. The Hyundai Palisade SUV, Hyundai Mighty EX-8 light truck and Hyundai ATOS are the three new models launched by the company at a ceremony that was held at its premises located on the outskirts of the city on January 9,in the presence of Lim Hoon-Min, ambassador of South Korea.
The SUV model is equipped with features such as an eight-speed button shift automatic transmission, remote engine starting, degree view camera, advanced all-wheel drive and airbags. It is sold for 6. The Hyundai EX-8 is fitted with power windows, a load sensing valve, forex crunch news, forex crunch news locks, and power steering and costs 1.
TheBr Hyundai ATOS features air conditioning, an anti-lock brake system, keyless entry and Bluetooth among other selling points. In three months, the company forex crunch news to start assembling kW electric cars that can travel up to Km on a single charge once they are charged for six hours with v of electricity.
Duties to import the semi-knocked down parts for the electric cars is five percent, and it does not have any excise tax. However, the price of the electric vehicles is a bit higher than petrol cars. The production plant of the company was inaugurated on February 21,with the presence of Won-Hee Lee, CEO of Hyundai Motor Company, the South Korean automotive manufacturer. The construction of the plant took one year and cost nearly a billion Br.
It currently assembles 12 different vehicle models. Resting on 30,Sqm of land leased in Nefas Silk District on the road to Tulu Dimtu, the plant uses two-thirds of the premises for test driving. The remainder is designated for vehicle sales, spare part stores, showrooms, a technical training centre and a service garage. It has constructed different facilities at various locations. In the company constructed showrooms and service and spare part centres in Addis Abeba and Hawassa at a forex crunch news of million Br.
The factory can assemble 10, cars a year, but because of the foreign currency crisis, it is operating below capacity. The company needs 40 million dollars a year to import parts.
During the inauguration ceremony, Haile, the major shareholder, expressed his frustration over the lower attention given to productivity. He stressed the need for a policy focus on solving unemployment. He explained the need for expanding cottage industries that will supply parts for assembly plants, mentioning their role in creating jobs.
In Ethiopia, a country with the lowest numbers of cars in the world at 1. Out of the total number of cars,vehicles are small automobiles. Tezazu Bireda, an expert in electrical engineering and a lecturer at Addis Abeba University, believes that producing premium class and electrical cars demonstrates technological advancement.
But he questions the battery cost and its durability. He recommends, however, that the government work on building charging stations at convenient places. PUBLISHED ON Jan 11, [ VOL 20NO ]. Vote count: 0. No votes so far! Be the first to rate this post. Viewpoints Dec 28, Radar Mar 23, Agenda Jan 12, Agenda Jan 11, Fortune News Oct 11, Fortune News Apr 06, Viewpoints Sep 07, Featured May 25, forex crunch news, Fortune News May 04, Radar Aug 22, August 28 By HAWI DADHI.
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But it goes on, and it shows a woman gra COVID UPDATES: All the stories and commentaries on Coronavirus, in one place We thank INTERNEWS for collaborating with us on this project. Skip to content. Amid Chronic Forex Crunch, Marathon Charges ahead with Elect News Featured Agenda OP-ED Opinion Editorial Commentary Viewpoint More Login With Your Account.
Forgot Password? The Ambassador of South Korea, Lim Hoon-Min, tests the Hyundai SUV model assembled by Marathon Motor Engineering Plc. Amid Chronic Forex Crunch, Marathon Charges ahead with Electric Car. The new models are expected to join the market in six months time. PUBLISHED ON Jan 11, [ VOL 20NO ] How useful was this post? Click on a star to rate it! Viewpoints Dec 28, forex crunch news, In Praise of a More Flexible Forex Regime.
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