Korea’s carmaker joins market
Marathon Motors, a partner of the Korean giant carmaker, Hyundai Motor Co. has inaugurated its assembly plant on Thursday that required an investment of 500 million Birr. Haile Gebreselassie (Major), a retired long-distance runner turned business mogul was joined by Workneh Gebeyehu (PhD), Foreign Minister, Lee Won-Hee, president of Hyundai Motor, diplomats and business magnets of the country at the inaugural ceremony. The plant, which stretches 36,000 square meters, has a capacity to assemble 10 units per day. The semi-knocked down assembly plant will offer a 15 to 18 percent price advantages than imported vehicles. In addition to the inaugurated plant, Haile is poised to introduce a tractor assembly business in the foreseeable future dreaming to alleviate the growing problem of the agricultural sector.