Bangladesh Auto Industries (BAIL) is preparing to begin developing and manufacturing their own electric vehicles after initially investing around $200 million
The facilities, civil work and utility connection of the proposed plant on a 100-acre of land at the Mirsarai economic zone in Chattogram will be completed by December this year, Mir Masud Kabir, Managing Director of BAIL, said.
“We will install the manufacturing equipment by March next year and the manufacturing will begin in June.”
BAIL will manufacture two-wheelers, three-wheelers, sedan, hatchback and sport utility vehicle (SUV) and has plans to produce pick-ups, mini-trucks and multipurpose vehicles.
Of the planned $200 million investment, 80 percent will be sourced locally, while the rest will enter the country as a foreign direct investment.
The total investment for the project will reach $1 billion within the next five years, Kabir said.
Leading local telecom service provider Mango Teleservices Ltd holds a majority share in BAIL established in November 2017.
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