BREAKING NEWS

    Ethiopia’s Marathon Motor Engineering set to Produce Ultramodern Electric Vehicles

    Posted On 10 Aug 2020
    By :
    Comments: 32

    By Richard Adorsu-

    Photo Credit: Ethiopian Monitor

    NEW AFRICA BUSINESS NEWS (NABN) Accra, Ghana- Marathon Motor Engineering, a local automotive firm, said that electric cars would be roaring in the capital sooner than later as it has finalized its preparation to assemble 36 ultramodern, cost-effective and environment-friendly electric vehicles in daily operation.

    The firm also reiterated that the vehicles would be sold at affordable price for individual and enterprise customers capitalize on the government’s tax reduction and other incentives for the automotive industry.

    Approached by The Ethiopian Herald, Marathon Motor Founding CEO Melaku Assefa said that the commencement of the new electric cars’ assembly line is aligned with the government’s priority to build a climate-friendly economic growth as the vehicles have zero emission of carbon dioxide. The electric vehicles have also a paramount importance in reducing the hard currency the country has been incurring to the importation of petroleum and diesel.

    “Marathon jumped very quickly to assemble electric cars locally mainly because it received a strong request by Prime Minster Dr. Abiy Ahmed when the latter took part in the inauguration of the state-of-the-art Hyundai Cars Assembly Plant along with Hyundai Motor Company CEO, Won Hee Lee in February 2019.”

    Prime Minister Abiy’s government has taken unprecedented measures in incentivizing automotive firms engaged in car assembling business in reducing the excise tax levied in new cars from 50 to 30 per cent thereby making the vehicles more affordable for the growing middle-class. The government’s measure also aims at discouraging the importation of old cars that drain the hardly gained hard currency for maintenance and importation of spare parts and they are environmentally hazardous.

    New Africa Business News
    Africa’s Fastest Growing Global Newspaper. Forward www.newafricabusinessnews.com

    According to the CEO, Ethiopia’s growing middle-class coupled with government’s huge investment in the hydroelectric projects that will make electricity more accessible and affordable, will help to boost the local demand for electric cars. Owning electric cars have benefits in cutting fuel maintenance and service cost and the vehicles are easily chargeable in charging stations as well as household electric supply and could travel up to 300 kilo meters per single charge.

    Melaku indicated that the electric cars will have been assembled by local automotive professionals in a view to paving knowledge, skill and technology transfer and the activity will also avail a sizeable job opportunity for youth graduated from technical and vocational education training institutions.

    Noting that the company plans to assemble different capacity of electric automobiles, SUVs, minibus, midi bus and trucks, he called on the government further deduct the tax rate leveled in new vehicles so as to enhance affordability and ensure forex allocation to sustained operation.

    Regarding Marathon Motor’s involvement in the national COVID-19 response, the CEO pointed out that the company donated half-a-million Birr to the National Task Force that is designated to mobilize funds for pandemic. Estimates indicated that currently more than one million registered vehicles in Ethiopia.

     

     

    Invest in Modern Africa
    Africa Fastest Growing Continent. Six of the World’s Ten Fastest Growing Economies are in Africa. More than Half of Global Population Growth between now and 2050 is Expected to Occur in Africa. This Decade Belongs to Africa as Technology Ripples through the Continent. Africa the Untapped Market. Africa Great Continent to Invest & Grow Business. Africa the Last Frontier for Investment. Africa is the Future.

     

    New Africa Business News Person of the year 2020
    Start Voting for New Africa Business News Person of the year 2020. Nomination Starts July 04 & Ends December 15/ 2020. Please Submit your Nominee’s Name, Country, Brief Reason for the Nomination. Please Limit Submission to 50 words and One Submission per Person. Email all Nomination to info@newafricabusinessnews.com. New Africa Business News Person of the year will be Announced January 01/ 2021. New Africa Business News. Africa’s Most Read and Fastest Growing Global Newspaper.  www.newafricabusinessnews.com 

     

    AFRICAN CONTINENTAL FREE TRADE AREA (AfCFTA)
    Accelerating Intra-African Trade and Boosting Africa’s Trading Position in the Global Market by Strengthening Africa’s Common Voice and Policy Space in Global Trade Negotiations. For More Information Contact: African Union Headquarters, P.O. Box 3243, Roosvelt Street W21K19, Addis Ababa  Ethiopia,  Tel: +251 11 551 77 00  Fax: +251 11 551 78 44.

     

    Africa President of the year 2020
    Start Voting for Africa President of the year 2020. Nomination Starts February 01 & Ends December 15/ 2020. Please Submit your Nominee’s Name, Country, Brief Reason for the Nomination. Please Limit Submission to 100 words and One Submission per Person. Email all Nomination to info@newafricabusinessnews.com. Africa President of the year will be Announced January 01/ 2021. New Africa Business News. Africa’s Most Read and Fastest Growing Global Newspaper.  www.newafricabusinessnews.com

     

    HELP FIGHT CLIMATE CHANGE
    United Nations Environment Programme (UNEP) Leading Global Environmental Authority that Sets the Global Environmental Agenda, Promotes Coherent Implementation of the Environmental Dimension of Sustainable Development within the United Nations System, and Serves as an Authoritative Advocate for the Global Environment.  Visit:  www.unenvironment.org 

     

     

    For New Africa Business News Richard Adorsu Reports,  Africa Correspondent

    Facebook: newafricabusinessnews.com

    Email: Info@newafricabusinessnews.com

    AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com

    About the Author
    New Africa Business News Staff Correspondent
    1. Megan August 10, 2020 at 2:36 am Reply

      Thank you for reporting. What they, you know what I mean the People that exploited and continue planning on exploiting our People and our Continent. They never want to see successful Africa. They will never and ever write good news of great Africa. Johannesburg South Africa. Megan

    2. Taiwo August 10, 2020 at 2:53 am Reply

      Journalist Richard thank you for reporting on another great achievement for out continent. They will not write about it. All they do is reporting bad news of Africa. Love this newspaper. Taiwo in Walvis Bay Namibia

    3. Gorata August 10, 2020 at 3:02 am Reply

      Thank you new Africa news for reporting. Marathon motor engineering set to produce Ultramodern Electric Vehicles in Ethiopia. Africa’s own. Made in Africa. Produce by Africans. Sky is the limit. Palapye, Botswana. Gorata

    4. Claire August 10, 2020 at 3:10 am Reply

      Thank you for signing me to new Africa business news newsletter. Very good. Paris, France. Claire

    5. Hawi August 10, 2020 at 3:18 am Reply

      Happy to see this great achievement. Lets produce more Electric Vehicles for our people, proud to be African. Addis Ababa Ethiopia. Hawi

    6. Aziza August 10, 2020 at 3:24 am Reply

      Congratulation our brothers and sisters in Ethiopia for this great milestone achievement. Aziza in Casablanca Morocco

    7. Morgan August 10, 2020 at 3:31 am Reply

      You are very right, they will never report this great success by one of our own in Africa. A country in the continent. Starting to producing electric automobiles. Harare, Zimbabwe. Morgan

    8. Obala August 10, 2020 at 3:38 am Reply

      Let’s produce our own and drive our own. Thank you, Ethiopia. Obala Cameroon. Esther

    9. Nadia August 10, 2020 at 3:44 am Reply

      Am a regular reader of your online newspaper. Thank you for the reports. Love it. London England. Nadia

    10. Seada August 10, 2020 at 3:53 am Reply

      Made in Africa. Thank you for reporting. Agaro in Ethiopia. Seada

    11. Rosha August 10, 2020 at 4:04 am Reply

      Good job, Ethiopia. Do you know Ghana and Uganda also are starting to produce automobiles? Thanks for reporting. Rosha in Mabote Mozambique

    12. Aisha August 10, 2020 at 4:09 am Reply

      Congrat Ethiopia. Thank you for reporting. Harare Zimbabwe. Aisha

    13. Tania August 10, 2020 at 4:15 am Reply

      Thank you new Africa business news on your report. They will never report anything good for Africa. Same old way. Love your online newspaper. Tania in Cape town SOUTH AFRICA

    14. Ruth August 10, 2020 at 4:22 am Reply

      Get ready Electric Vehicles, made by Africans and sell by Africans, are coming. Save some money for buying. Kigali Rwanda. Ruth

    15. Rita August 10, 2020 at 4:28 am Reply

      Great investments for our people and our great continent. We built all these so called develop countries. Thank you very much for all your reports. Rita in Kampala, Uganda

    16. Ketso August 10, 2020 at 4:38 am Reply

      Thank you for covering the whole Continent. Unlike other newspapers. Love reading and learning more of our Continent. Regular reader. Ketso in Ghanzi Botswana

    Leave a Reply

    *

    Facebook

    Latest Posts

    East African Community Unveils Bioeconomic Strategy for the next Decade

    Africa Exchange Fair Trade Limited (AFEX) Expands Into Kenya, Target High Commodities Trading While Bolstering the Continent's Food Security

    Ghana & Nigeria to Improve Cross-Border Trade

    Contact Form

    1. Name *
      * Please enter your name
    2. Email *
      * Please enter a valid email address
    3. Message *
      * Please enter message
    Copyright 2019 New Africa Business News, Inc. A Global International Company, Inc. All Rights Reserved.