Almost a month after German auto giants DW announced entry into Ethiopia, another global giant Hyundai opened an assembly plant in the country on Thursday, February 21. The plant is a joint venture between the South Korean carmaker and decorated Ethiopian athlete Haile Gebreselassie who owns Marathon Motors brand. Hyundai Motor Company CEO, Mr. Won Hee Lee, was in town for the inaugural ceremony as was Gebreselassie and high ranking government officials including Foreign Affairs minister, Workneh Ghebeyehu. The cost of the Hyundai Marathon motor vehicle assembly plant is estimated at half a billion birr. It becomes one of few assembly plants in the region and has the capacity to assemble 5,000 cars annually.

Source: Ethiopian News February 21, 2019 13:52 UTC