Japanese automaker Mitsubishi Motors is set to build an auto assembly plant in Bangladesh as part of its expansion drive in Southeast Asia. The company is targeting to hold the largest share of new cars sold in Bangladesh. 

 

The country’s economy is projected to be on a fast recovery with consumer’s purchasing power to grow in the coming years. 

 

A Memorandum of Understanding (MoU) was signed between the automaker and state-owned Bangladesh Steel and Engineering Corporation (BSEC), to conduct a feasibility study on business opportunities in the auto sector and to define the timeline for the operations for this new plant. 

 

The study will be completed by 2025, post which decisions for other projects will be taken based on the government’s support and incentives. 

 

In fiscal 2020, Mitsubishi sold 1,700 vehicles and produced 200 cars in Bangladesh. It has production bases in five ASEAN nations, including Thailand and Indonesia and is optimistic about its venture in Bangladesh. 

 

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