Japan-based Mitsubishi Motors Corporation (MMC) has signed a memorandum of understanding with Bangladesh Steel and Engineering Corporation (BSEC) to build an auto assembly plant in Bangladesh, according to a statement by BSEC.
The companies will conduct the necessary feasibility study on the production and assembly of Mitsubishi brand vehicles in Bangladesh. The study is scheduled to be completed by 2025.
According to the statement, automobile demand in Bangladesh is growing due to the increase in the purchasing power of the consumers. “In collaboration with MMC, we, BSEC, will be able to manufacture globally-recognized Bangladeshi brand cars in the near future,” Shahidul Haque Bhuiyan, chairman of BSEC, stated.