Nitol-Niloy Group Chairman Abdul Matlub Ahmad Dhaka TribuneFor Nitol Niloy to label a car as "made in Bangladesh," the company will have to manufacture 30% of all components locally. Once this condition is fulfilled, the car will be branded as a "Sobari," which translates as "Everyone’s."
It could then be exported duty free to 40 countries worldwide in what the business magnate believes would be a “great leap forward for the automobile industry in Bangladesh.”
“The endeavour will not only help customers purchase a private car at a cheaper price, but also create an opportunity for Bangladesh to develop an automobile industry,” he told the Dhaka Tribune.
The business tycoon hopes his company will be able offer the locally-assembled automatic car within a price range of Tk6-8lakh, undercutting the current Tk9 lakh price of a Nano car.
“We expect the government will fix lower duties and taxes on cars which will be assembled in Bangladesh,” Mr Matlub said.
He added that the Bangladesh government had responded “very positively” towards the initiative.Nitol Niloy Group has outlined plans to launch the first car to be built in Bangladesh, using the technical expertise and financial muscle of India’s Tata Motors Limited.
Nitol Niloy chairman Abdul Matlub Ahmad said he is determined to establish the new vehicle as the “national car of Bangladesh,” replicating the success of the Tata Nano which was launched in India in 2008.
“Five years from now, every other car sold will be made in Bangladesh,” said Mr Matlub, who is one of the country’s most successful entrepreneurs.
The company is first planning to build a small factory near Dhaka for assembling Tata Nano cars cars, before moving to a larger plant to start manufacturing.
“Once we move towards manufacturing, it will be a great source of employment for our people,” the chairman said.
Nitol-Niloy Group Chairman Abdul Matlub Ahmad Dhaka TribuneFor Nitol Niloy to label a car as "made in Bangladesh," the company will have to manufacture 30% of all components locally. Once this condition is fulfilled, the car will be branded as a "Sobari," which translates as "Everyone’s."
It could then be exported duty free to 40 countries worldwide in what the business magnate believes would be a “great leap forward for the automobile industry in Bangladesh.”
“The endeavour will not only help customers purchase a private car at a cheaper price, but also create an opportunity for Bangladesh to develop an automobile industry,” he told the Dhaka Tribune.
The business tycoon hopes his company will be able offer the locally-assembled automatic car within a price range of Tk6-8lakh, undercutting the current Tk9 lakh price of a Nano car.
“We expect the government will fix lower duties and taxes on cars which will be assembled in Bangladesh,” Mr Matlub said.
He added that the Bangladesh government had responded “very positively” towards the initiative.
Nitol-Niloy Group Chairman Abdul Matlub Ahmad Dhaka TribuneFor Nitol Niloy to label a car as "made in Bangladesh," the company will have to manufacture 30% of all components locally. Once this condition is fulfilled, the car will be branded as a "Sobari," which translates as "Everyone’s."
It could then be exported duty free to 40 countries worldwide in what the business magnate believes would be a “great leap forward for the automobile industry in Bangladesh.”
“The endeavour will not only help customers purchase a private car at a cheaper price, but also create an opportunity for Bangladesh to develop an automobile industry,” he told the Dhaka Tribune.
The business tycoon hopes his company will be able offer the locally-assembled automatic car within a price range of Tk6-8lakh, undercutting the current Tk9 lakh price of a Nano car.
“We expect the government will fix lower duties and taxes on cars which will be assembled in Bangladesh,” Mr Matlub said.
He added that the Bangladesh government had responded “very positively” towards the initiative.