IFAD Autos reaches milestone of manufacturing 10,000 commercial vehicles

IFAD Autos Limited, the country's leading commercial vehicle manufacturing and marketing company, has surpassed the milestone of producing 10,000 Ashok Leyland brand vehicles in its Dhamrai factory. 

On this occasion, in a nondescript event, the milestone was celebrated at the plant in Dhamrai adjacent to the Dhaka-Aricha highway on Saturday (15 July), reads a press release. 

Iftekhar Ahmed Tipu, chairman of IFAD Group, cut the ribbon and cake to begin the event. Senior representatives from Ashok Leyland's operations in Bangladesh and India were present at the event.

The factory manufactures various models of AC, non-AC buses, trucks, and covered vans of India's Ashok Leyland brand. It is the country's largest commercial vehicle manufacturing plant under private initiative. 

In early 2017, IFAD Autos Limited started vehicle production at the factory with technical support from India's Ashok Leyland.

On the occasion, Iftekhar Ahmed Tipu said, "The day is a special joy for IFAD Group. Because of the country's overall condition, adding and producing heavy vehicles was a big challenge. With proper planning, hard work, and united efforts of all concerned, IFAD AUTOS has won the challenge. In the future, IFAD Group will be ahead in manufacturing any vehicle with modern technology."

He also said, "Bangladesh had made revolutionary progress in the last few years in heavy commercial vehicles. The increased import to meet the rising demand for commercial vehicles costs considerable foreign currency. For this reason, IFAD Autos Limited built this factory in Dhamrai." 

He also mentioned that though the plant initially constructed vehicles, it now assembles top-notch AC and non-AC luxury buses. He also expressed hope that the annual production capacity of 1,000 automobile bodies will increase soon in the near future.

The IFAD Group chairman further said, "It currently takes a lot of time to import vehicles. As a result of the opening of this factory, it is possible to supply vehicles at the earliest according to the buyer's demand. As different models of AC, non-AC buses, trucks, and covered vans are manufactured in this factory of IFAD Autos Limited, its production cost is much lower than imported vehicles—the benefits the buyers enjoy."

He said IFAD autos limited started a new horizon in the country's history as a private initiative, adding that this factory plays a unique role in the national economy, properly utilising domestic raw materials, developing of skilled workforce, and creating new employment opportunities.