fbpx

Automobiles to roll off new assembly line in Mandalay

Myanmar has been importing car parts and assembling them for years, but now Chinese cars will be produced here for the first time, at Myotha industrial zone in Ngazun township, Mandalay Region.

Shining Star Group of Kunming, China, established Gold AYA Motor International Co Ltd to make automobiles in Myanmar in 2017.

The plant on more than 20 acres of land in Myotha industrial zone will manufacture high quality vehicles to be sold at reasonable prices, according to the company, with the ultimate goal of labelling them “made in Myanmar.”

“Mandalay is in the centre of Myanmar, so our company expects to distribute vehicles across the country. We will also focus on the development of the city and people. Our ultimate goal is to be able to produce all the parts in Myanmar,” said Jackie Yan, general manager of Gold AYA Motor International Co Ltd.

Phase 1 of the factory project includes an assembly line for Semi Knocked-Down vehicles, equipment, car parts, storage godowns, parking, test-drive tracks, a fuel warehouse, dump areas, toilets and offices.

It will require a US$30 million investment by the company, which has over 130 staff members, including 110 Myanmar nationals.

It will produce ten models of luxury cars, commercial cars, pickups, SUVs, and MPVs.

Within 5 years, the firm expects to sell over 50,000 cars with 40pc local production. Later, it expects to double the production.

The first car to be made by the firm will be Beijing Auto Industry Corp.’s Changhe Q35 SUV, which rolls into Yangon and Mandalay showrooms on Friday.

“For now, we will prioritise the local market. In three to five years, if we get government permission, we will try to expand into neighbouring markets,” Jackie Yan said.

Seven countries have invested in 21 businesses in Myotha industrial zone. Investments include K243 billion from local sources and US$500 million from foreign investors, said regional Chief Minister U Zaw Myint Maung.

“Foreign investment is vital for developing countries like ours, so the government needs to create a good environment for investment. Investments are coming to Myotha industrial zone because of its opportunities. We also want people to improve their technological and labour skills,” he said at the factory opening.

Source: Myanmar Times

To see the original article click link here

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, “Puma Energy”, “MOGE”, “yangon new town”,”MECTEL”, “hydropower”, etc.

.

Looking for foreign investors to invest in your business in Myanmar