At the formal opening of the Hyundai car manufacturing plant in Gazipur’s Kaliakoir today, distinguished guests hailed it as a “potential a game changer” not only in the Bangladesh automobile market and industry, but also in the overall partnership between the country and South Korea. Industries Minister Nurul Majid Mahmud Humayun inaugurated the Hyundai car manufacturing plant as the chief guest. State Minister for ICT Zunaid Ahmed Palak; Captain Tajul Islam, MP; South Korean Ambassador to Bangladesh Lee Jang-keun; Fair Group Chairman Ruhul Alam Al Mahbub; its Director Mutassim Daiaan; Managing Director and CEO of Hyundai Motors India Unsoo Kim, among others, spoke on the occasion. “It’s historic day. It is the beginning of a new era. It (Hyundai) will become a very popular brand here,” Industries Minister Nurul Majid said. Read More: Car importers still unable to open LCs from banks He said Bangladesh is advancing fast in every sector, and assured of government support to Hyundai’s journey in Bangladesh. “Bangladesh is a big internal market,” he said. Appreciating Fair Group Chairman Mahbub’s efforts, the industries minister said, “He is a dynamic man. He has already shown how a young entrepreneur can achieve big things with such a big factory. That tells the Bangladesh story.” Fair Group Chairman Mahbub said that it is Bangladesh’s time to move ahead further and they will invest more and create more jobs for the country. South Korean Ambassador Lee said Fair Technology’s Hyundai automobile factory will not only allow the Bangladesh consumers to purchase globally recognized, top-quality cars at an affordable price, but will also contribute to the technological and industrial development of automobiles in Bangladesh. Read more: Bangladesh will assemble Hyundai cars by end of this year: South Korean envoy The presence of Hyundai Motors, the 3rd largest global supplier of automobiles, in Bangladesh will bring numerous positive ripple effects in various businesses and industries, he said.

South Korean Ambassador to Bangladesh Lee Jang-keun has said Hyundai cars will be assembled in Bangladesh by the end of this year. At the Kaliakoir Hi-Tech Park, he said, local company Fair Technology is now preparing an assembly plant for Hyundai Motors. In cooperation with a Bangladeshi company, Samsung Electronics is assembling and manufacturing most of its gadgets locally – from refrigerator, air conditioner, washing machine to television and mobile phones, Ambassador Lee said while speaking at a reception on Sunday evening, marking South Korea’s National Foundation Day. Read:Make 50th anniversary of Seoul-Dhaka ties a success: Korean ambassador The South Korean envoy said the golden jubilee of Bangladesh-South Korea relations next year will be a milestone in “friendship and partnership” between the two countries. “Cherishing the close ties we have earnestly cultivated for the past five decades, we will renew our commitment to each other and take a bold step forward together for a closer, deeper, stronger and brighter future,” he said. South Korea is currently the fifth largest FDI investor in Bangladesh, and more than 70 percent of its investment is in the RMG sector, said the ambassador. Read: South Korean envoy Lee for strengthening infrastructure cooperation with Bangladesh With the establishment of the Hyundai Car manufacturing plant in Bangladesh, the friendship between Bangladesh and South Korea will reach a new height. 

Hyundai Motor India will invest ₹4,000 crore to launch half a dozen electric vehicles (EV) by 2028 in a series of targeted product interventions, underscoring increasing consumer preference in the country for mobility solutions of the future. The first of these products, eventually covering both mass and premium segments, will hit Indian roads as early as next year, reports The Economic Times. Hyundai Motor India managing director SS Kim told ET that high-speed electrification of the automotive sector has become a reality, with the share of EVs rising to as high as a fifth of the total in several markets. "I think India might be having the same situation in the near future," said Kim. "Our six battery EVs will cover various segments. Our future electric vehicle business should outperform... existing performance in the general (internal combustion engine) market." Read: Fair Technology begins journey with Hyundai Hyundai's decision to invest significantly in the EV space comes at a time when market leader Maruti Suzuki NSE 1.30 % has said it will introduce an electric vehicle in the local market only when there is sufficient customer demand - possibly by 2025. Tata Motors, which currently leads the EV sales tally in India, has outlined plans to introduce 10 new electric vehicles in this period. Hyundai has a share of 16-17% in the local passenger vehicle market, but scores high on profitability with the midsized Hyundai i20, Venue and Creta. Kim said EVs are not mass products in mature markets.

Fair Technology Ltd, the automotive vertical of Fair Group, has entered into a strategic partnership with Hyundai Motor Corporations of South Korea as its authorized distributor for passenger vehicles.

Dhaka, Apr 12 (UNB) - Standard Chartered Bank has recently signed a memorandum of understanding (MoU) with Hyundai Motors Bangladesh Ltd (HMBL), Pacific Motors Ltd and Millennium Ssang Yong Motors Ltd. 

Seoul Oct 21 (Xinhua/UNB) -- Hyundai Motor Group, South Korea's automotive giant, said Monday that it has developed an artificial intelligence (AI)-based, driver-customized autonomous driving technology.