Belayab Motors announced its partnership with KIA Motors Corporation for the assembly and sale of KIA automobiles in Ethiopia. The two companies was officially unveiled a number of car models that have been assembled, on Thursday, May 11, 2017 at the Sheraton Hotel.
Belayab Motors has established its assembly factory in Adama and has started to assemble RIO and PICANTO models for the market.
“Our company has already assembled RIO and PICANTO, two popular sedan car models and is in the process of introducing several other KIA models in Ethiopia in 2017 to satisfy our customer’s need and offer them new choices like KIA Soul, KIA Sorento, KIA Sportage and an SUV version called KIA Mohave. In this regard, I am confident that our target consumers in Ethiopia will prefer them and can afford them,” said Aschalew Belay, owner and CEO of Belayab Investment Group.
Aschalew further stated that the company will keep adding more local value in the production process, to benefit to the domestic economy in terms of knowledge transfer, capacity building, foreign currency savings and expanding employment opportunities,.
“Our vision and commitment is to see a car fully manufactured here in Ethiopia before the decade is out,” he underlined.
The assembly plant that had an investment of 150 million birr has created jobs for 270 people, according to the CEO of Belayab Motor Fikadu Girma.
“We have studied the market well and we are keeping in mind what the target consumers want. The cars we will be assembling will be 15 to 20 percent cheaper than other brands being assembled in the country currently,” Fikadu said.
KIA Motors a South Korean vehicle manufacturer has annual sales revenue of USD 4.6 billion and has over 46,000 employees. “KIA Motor’s cars are increasingly becoming aesthetically beautiful, technologically ground-breaking, cost wise competitive, strong and powerfully built. We are very confident that we are entering the Ethiopian car market bringing products that are among the top in the current international motor industry,” Aschalew Belay said.