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Hyundai reveals its ambitions.
The automotive industry could experience new momentum with the announced return of the South Korean manufacturer Hyundai, which has expressed its desire to set up a factory in Algeria, with the achievement of a considerable integration rate.
Hyundai’s project and ambitions in Algeria were presented to the Minister of Industry and Pharmaceutical Production, Ali Aoun, by the brand’s officials. The South Korean automobile giant says it is willing to set up a factory in Algeria, in accordance with the company’s international standards. It proposes to launch the production of three models of tourist vehicles as well as two types of utility vehicles of the brand.
“As part of the implementation of the policy of the Ministry of Industry and Pharmaceutical Production for the revival of the activity of the automobile industry, the Minister of Industry and Pharmaceutical Production, Ali Aoun, received, on Monday, July 8, a delegation including senior officials of the Hyundai company and the Omani Commercial Enterprise (OTE Group), with a view to presenting the Hyundai brand automobile manufacturing project in Algeria,” the ministry said in a statement.
Ali Aoun listened to a detailed presentation by the head of Hyundai for the Middle East and North Africa (MENA) region, Tarek Mosaab, who said that the project “will be part of the Algerian government’s policy aimed at creating a real automobile industry, with the achievement of a considerable integration rate.” It was mainly Hyundai’s great ambitions in Algeria that were exposed. The manufacturer’s managers have, in fact, expressed their willingness to set up a factory in accordance with the company’s international standards.
“The project design will take into account from the outset the creation of a body construction line and an automobile painting line,” it was indicated, specifying that three models of Hyundai brand passenger cars will be produced, in addition to two types of utility vehicles, and even electric vehicles.
Regarding the choice of land, the Minister of Industry stressed “the need to accelerate the registration on the digital platform dedicated to this purpose as soon as possible in order to make this project a reality.”
Algeria, it should be noted, has reopened its automobile market in 2023 with the granting of import approvals to three brands, in addition to the adoption of a strategy to revive the automobile industry. The announced return of Hyundai is therefore in line with this, knowing that the strengthening of bilateral cooperation in the field of industry has already been discussed by the Minister of Industry and the South Korean ambassador to Algeria.
Last April, Mr. Aoun received the South Korean ambassador to Algeria, Mr. You Ki-Jun, with whom he examined ways to strengthen and develop bilateral cooperation, particularly in the fields of the automobile industry and the electronics and household appliances industries.
The Minister of Industry had then praised the level of technological development of South Korea, stressing the importance of cooperation in several industrial fields, such as the automobile industry. The South Korean ambassador had, for his part, stressed the active role of Algeria in Africa in terms of export and investment opportunities.