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New locally made cars unveiled in Ethiopia
A new Chinese car assembly company, Yangfan Motors Plc, a subsidiary of Lifan Group launched three new automobile models on Tuesday at the Sheraton Hotel.
Lifan Group, one of the biggest privately-owned enterprises in China, created a vehicle assembly plant in Ethiopia with an initial investment of 10 million dollars.
Lifan Group was also the sole supplier of engines, motors and spare-parts for the locally assembling company Holland Car which produced the Abay and Awash automobile until it terminated its contract with the latter. Holland Car plc said at the time that there was a breach of contract between them and Lifan Group.
To deal with the contract's termination, the auto assembly pioneer struck a deal with Anhui Jianghuai Automobile Plc (JAC), another Chinese auto giant based in the Anhui province.
Yangfan established its plant in the Eastern Industry Zone just outside of Addis Ababa, at Akaki inside another Chinese owned factory site with one million dollars in capital until it secures its own land from the government. The operation began by producing three Lifan automobiles.
At the launching ceremony, State Minister of Trade and Industry, Tadesse Haile and State Minister of Transport and Communication, Getachew Mengiste spoke alongside company officials and Chinese diplomats.
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