POBNEWS24, Dhaka Apr 29, 2024 : China is planning a new plan to stop India!At least that seems to be the case after the Chinese company’s over activity in Bangladesh.Chinese companies have started operations in Bangladesh to control the market of electrical equipment including Indian cars.Three Chinese companies want to jointly prepare a car manufacturing plant.Several Bangladeshi companies including AkiJ Group and ACI Motors have come forward to establish joint factories.While the core components are made in China, the entire assembly will be done in Bangladesh.
There are various restrictions on Chinese companies exporting cars to the Indian market.
There are also barriers to investment by Chinese electronics companies in India. Therefore, as an alternative approach, China wants to take control of the market of various products including India’s car, lithium battery, mobile manufacturing factory by establishing a joint company in Bangladesh. India has gone on to produce the world’s most expensive brands of mobiles and electronics companies. Many of the world’s leading companies, including electric car maker Tesla, are setting up joint venture and sole proprietorship factories in India. Also many companies are in the process of setting up factories in India. It has reduced the market for many Chinese products.
Although the market for electronics products including cars, mobiles, and lithium batteries is small in Bangladesh, it can be exported to neighboring countries including India by building factories under joint ownership.
Economists of Bangladesh believe that both countries will benefit from this.
A high-level delegation of 17 members of the Anhui Provincial People’s Congress, including representatives of three Chinese automobile companies, visited Bangladesh on April 23, expressing interest in investment.
They held a meeting with the representatives of Bangladesh-China Chamber of Commerce and Industry (BCCCI).
Among them, Chinese company Chery Automobile has expressed interest in setting up its electric vehicle (EV) factory in Bangladesh, while Jianghui Automobile Co. Ltd. and Photon Motors have expressed interest in setting up truck and passenger bus manufacturing plants.
Besides, another Chinese company specializing in forklift production – Heli has expressed interest in setting up a factory in this country jointly with Bangladeshi entrepreneurs.
Similarly, China’s Goshan Hi-Tech Company Limited has said it wants to set up a factory to produce high-tech electric vehicle batteries.
The Chinese delegation arrived in Bangladesh on April 22 and left Bangladesh on April 24.
In an exchange meeting with the Chinese delegation, several companies, including Akiz Group of Bangladesh, have expressed their interest in investing in the establishment of an electric car and lithium battery production plant jointly with Cherry Automobile Company. Bangladesh Energy Pack Managing Director Humayun Rashid held a meeting with the Chinese delegation. He said that they are working with China’s JAC and Heli Company to manufacture refrigerated covered vans, covered vans and special purpose vehicles including cranes used for street light maintenance. Humayun Rashid said that China’s Anhui Provincial Government wants their companies to increase their investment in Bangladesh. We will add electric buses and electric trucks with Chinese companies. So far we have invested 150 crore rupees. There are plans to invest another Tk 500 crore.
ACI Motors of Bangladesh has also expressed interest in jointly investing with Chinese companies in the manufacturing and assembly sector of passenger buses and other vehicles in Bangladesh.
Photon of Bangladesh will do pre-manufacturing jointly with Chinese companies. Besides, a Chinese company is interested in manufacturing lithium batteries, ACI Motors will also jointly manufacture lithium batteries with them. China is also interested in manufacturing passenger buses jointly with Chery Automobile Company.
BCCCI Secretary General Al Mamun Mridha said that Chinese companies came to seek business partners to invest in Bangladesh to expand their business.
Officials of various industrial establishments in Bangladesh are expressing interest in it. They have expressed interest in investing in the automobile industry in joint ventures with Chinese companies – he said.
Businessman Al Mamun Mridha said that the top official of an agricultural products processing (agro processing) company in Anhui province was in the delegation.
They are keen to invest in Bangladesh’s agro-processing industry and renewable energy sector. China expressed interest in setting up an electric vehicle assembly plant in Bangladesh last year. In August, China’s ambassador to Dhaka, Yao Wen, said that if Chinese investors set up electric vehicle assembly plants in Bangladesh – entering a potential market, Bangladesh would also benefit from it. The Chinese delegation at the meeting was led by Wei Xiaoming, Vice Chairman of the Anhui Provincial People’s Congress. Song Yang, Commercial Counselor of Chinese Embassy in Bangladesh was also present in the meeting.
