On July 31st, 2023, H.E. Tefera Derbew, Ethiopia’s Ambassador to China, received Mr. Jean Cui, General Manager of Chery Commercial Vehicles International Corporation to his office and briefed him on Ethiopia’s investment potential for establishing electric vehicles assembly.
During the discussion, the Ambassador has elaborated the major reasons for International Car Manufacturers to choose Ethiopia as their major investment destination. Referring to the growing demand for commercial vehicles which is induced by the rapid growth of the economy, the Ambassador has mentioned the attractive incentives prepared by the government for international automakers to establish car assembly in the country.
Mr. Jean Cui, on his part mentioned Ethiopia’s fast economic growth and rapid development of middle class in the country as crucial players for the growing demand of vehicles. He further stated that the recent tax incentives introduced by the government for electric vehicles shows the country’s commitment to green economy and his company will be a part of this initiatives.
Mr. Jean mentioned that business representatives of the company will soon conduct a pre investment visit to Ethiopia to further investigate investment opportunities and potentials to establish an assembly plant for Cherry commercial vehicles.
Chery Automobile has been the leading Chinese automobile exporters for 19 consecutive years, and its new energy commercial vehicles subsidiary, KARRY has been the sales champion of new energy commercial vehicles in China for 2 consecutive years.