The launching ceremony was held in Addis Ababa at the presence of senior government officials, the diplomatic corps, and invite guests.

The owner and operation manager of the company, Eng. Taddesse Tessema told journalists that the car, which is up to the standard of the current vehicles, costs 140,000 Birr.

The factory plans to produce 270 automobiles until Dec. 2007, he said, adding the factory envisages producing 1,000 cars during the next Ethiopian budget year.

The new car, which is assembled jointly with Lifan Industry (group), Chinese Company, would have a speed of 155 k/h, he said.

The demand of cars in Ethiopia is huge, he said, adding the Ethiopian investment Agency is providing support to the factory.

Taddesse said the factory also plans to manufacture small loading pickups, minibus, and other vehicles with a capital of some 50 million Birr.

The factory in collaboration with the Holland government has already been manufacturing ‘DOCC’ automobiles since the last two years.

R: 7:00- 7:20

E- 3:23-3:39

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