Grand Inauguration of Fair Technology | Hyundai Factory in Bangladesh

The inauguration of the Fair Technology | Hyundai factory is a strong step towards the implementation of the national vision- `SMART Bangladesh’. Industry Minister Nurul Majid Mahmud Humayun MP made this remark while inaugurating this factory in a grand ceremony at Bangabandhu Hi-Tech Park Thursday, 19th January 2023. He said, ‘Made in Bangladesh’ Hyundai SUV will run on the streets now as the symbol of fast-moving Bangladesh.


Fair Technology has established this automobile factory at Bangabandhu Hi-Tech Park in Kaliakoir, Gazipur with the support of the globally leading Korean automobile giant- Hyundai. They started manufacturing Hyundai’s popular SUV- Creta at this factory.


Korean Ambassador to Bangladesh H.E. Mr. Lee Jang-keun and Managing Director of Hyundai Motor India Ltd. (HMIL) Mr. Unsoo Kim attended the ceremony as the Guest of Honor. State Minister for ICT Mr. Zunaid Ahmed Palak was present as the Special guest.


State Minister for ICT Mr. Zunaid Ahmed Palak MP said we want every family in Bangladesh to have a car by 2041. We want everyone in Bangladesh to be able to use new cars. Not a reconditioned car.’

Chairman of the Parliamentary Standing Committee on Ministry of Disaster Management and Relief Capt. AB Tajul Islam (Retd.) MP, Senior Secretary of ICT Division Mr. N. M. Ziaul Alam, Bangladesh Investment Development Authority (BIDA) Executive Chairman Mr. Lokman Hossain Miah, Secretary of the Ministry of Industries Ms. Zakia Sultana, Managing Director (Grade-1) of Bangladesh Hi-Tech Park Authority (BIDA) Dr. Bikarna Kumar Ghosh and Bangladesh Road Transport Authority (BRTA) Chairman Mr. Noor Mohammad Majumdar were present as special guest. Fair Technology Director and CEO Mr. Mutassim Daiaan delivered the welcome speech. Fair Group Chairman Mr. Ruhul Alam Al Mahbub were present.

Speakers said, under the most courageous and dynamic leadership of Honorable Prime Minister H.E. Sheikh Hasina, Bangladesh is now on the verge of attaining the status of a developing country. With the very fast-growing economy, the country can’t remain a market of used cars. It is the right of the people to have access to enjoy the world’s best brand-new cars at an affordable and competitive price. By realizing that right, the ‘Made in Bangladesh’ Hyundai car manufactured by Fair Technology has become the symbol of self-esteem of the people of Bangladesh.


With the aim of ‘Step into the future’, Fair Technology | Hyundai has established a factory combining two industrial plots in Bangabandhu Hi-Tech Park. The factory will initially manufacture Hyundai’s globally popular SUV brand- Creta. Later on, other brands of Hyundai SUVs and Sedans will be produced gradually. Every Creta SUV is manufactured by importing more than 1,000 parts and multiple layers of painting at its own paint shop.


Entrepreneurs informed by operating one shift/day in the beginning, Fair Technology | Hyundai factory will be able to produce Three thousand Creta SUVs annually. Through raising gradually the number will reach to ten thousand units car/year.


In the opening ceremony, Industry Minister Mr. Nurul Majid Mahmud Humayun said the factory’s inauguration was a decisive step towards implementing the national vision of “Smart Bangladesh”.

He also added, “It’s a historic day. It is the beginning of a new era. It (Hyundai) will become a very popular brand here.


State Minister for ICT Mr. Zunaid Ahmed Palak said the inauguration of the hi-tech industry is a testimonial of Bangladesh’s economic progress, capabilities, and potential for the future. The factory, aimed at meeting the growing demand for vehicles, will also help establish a Smart Bangladesh by 2041″.


Korean Ambassador to Bangladesh H.E Mr. Lee Jang-keun said, Fair Technology’s Hyundai automobile factory will not only allow Bangladesh consumers to purchase globally recognized, top-quality cars at an affordable price but will also contribute to the technological and industrial development of automobiles in Bangladesh.


Hyundai Motor India (HMI) Managing Director Mr. Unsoo Kim said, the 3rd largest global supplier of automobiles, in Bangladesh, will bring numerous positive ripple effects in various businesses and industries. Today, we are witnessing the opening of a new chapter in the Korea-Bangladesh partnership. The automobile industry has been just added to the list of our successful partnerships and collaboration. Starting from RMG, now we are seeing collaboration in new frontier areas including electronics, infrastructure, and automobiles.


Fair Technology Ltd. Director and CEO Mr. Mutassim Daiaan said, we humbly express our pride that we proved Bangladesh’s ability to produce the world’s best Hyundai cars. We believe this is a highly significant milestone for progressing Bangladesh. At this glorious moment, we promise to deliver Hyundai SUV- Creta at a highly competitive and affordable price to our people. He further said that world-standard after-sales service and availability of all spare parts at affordable prices have also been ensured.


Chief Marketing Officer (CMO) Mr. Mohammad Mesbah Uddin- Fair Group, Chief Financial Officer (CFO) Mr. Kazi Nasir Uddin- Fair Group, Head of Communication Mr. Hasnain Khurshed- Fair Group, Head of Marketing Mr. J M Taslim Kabir- Fair Group, Mr. Md. Abu Naser Mahmud Head of Sales- Fair Technology Ltd., Senior Marketing Executive Md. Majharul Islam- Fair Technology Ltd., Public Relations Officer Saeed Ahmed- Fair Group, and senior Officials of Fair Group were also present.


To ensure Customer-benefit, Fair Technology Ltd. has already established multiple Sales, Service, and Spares (3S Center) in Dhaka and Chittagong and extending 3S Center facilities in other major cities including Sylhet, Bogura and etc.