Hyundai automobiles to roll off Abans’ assembly line

Boon to Sri Lankan economy and industrial prospects

Hyundai Motor Company, the world’s sixth largest automobile manufacturer and a leader in future mobility enters into agreement with Abans Auto, authorising the reputed local automotive retailer to assemble and manufacture Hyundai automobiles and components under licence in Sri Lanka.

The agreement was sealed as a result of lengthy discussions initiated in 2020 between the renowned Korean automotive manufacturer and Abans Auto, its authorised distributor in Sri Lanka.

Hyundai has extensive experience in setting up automobile assembly plants across the world and presently operates in eight countries including the United States, the Czech Republic and India. Similarly, the proposed assembly plant for Sri Lanka has been designed by

Hyundai and incorporates the latest technologies, tools and equipment that conforms to industry 4.0 standards ensuring the maintenance of the brand’s stringent quality expectations.

Abans’ partnership with Hyundai is to set up a Complete Knocked Down ( CKD) vehicle assembly plant that would utilise locally manufactured components, developed and manufactured to Hyundai’s stringent quality standards. The CKD assembly format was chosen as it offers local industry the maximum potential for development and the necessary global certification and recognition for entry into the global supply chain. As such, the project will see the engagement of several local component manufacturers from the SME sector to meet the localisation demands stipulated in the Ministry of Industries Standard Operating Procedure for local assembly.

This project is presently awaiting the approval of the Ministry of Industries, the timely granting of which, will initiate the necessary development activities to launch this project of great value.