South Korea's Hyundai opens assembly plant in Ethiopia
Hyundai cars at a dealership in Los Angeles on September 27, 2010. The car maker has opened a 10,000-a-year vehicle capacity assembly plant in Addis Ababa, Ethiopia. PHOTO | AFP
South Korea’s Hyundai Motor Co opened a 10,000-a-year vehicle capacity assembly plant in the Ethiopian capital Addis Ababa on Thursday, its first factory in East Africa.
While second-hand vehicles dominate sales in the Horn of Africa country, Hyundai hopes locally-assembled cars could prove attractive given the cost of imports due to high taxes.
