links:Named after famous Ethiopian rivers, ABAY, AWASH and TEKEZE, Holland Car Plc, finally unveiled its most anticipated three latest model and technically advanced cars on Monday.
The new models go on sale starting from Ethiopian New Year in the local market, with prices for the products anounched during a launching event held at Sheraton Addis. As a result, the company said ABAY Executive and TEKEZE excutive would both be attached with 189,500 birr price tag, and AWASH executive tagged 279,000 birr.
With an engine displacment of 1299 cc, TEKEZE Executive uses internationaly advanced multi-point EFI (electronic fuel injection) engine technology with Electron Company ECU system.
Having the same engine technology as TEKEZE Executive, Awash Executive also has a minimum of 160(no-load) of ground clearance.
It is also equipped with an engine displacement of 1488 cc, which the compnay said "Its Emission Standard complies with Euro IV (with OBD)." Abay Executive also falls under Compact car catogory and is equiped with an engine of 1299 cc.
Both, Abay EXECUTIVE and AwashExecutive, according to the manufacturer, "can be defined as home business and Economic Cars suitable for the Ethiopian Highlands and Weather." As a result of termination of agreement with Lifan Company to the supply of spare parts, Holand Car would import spare parts for its new models from its new Chinese partner and car manufacturing company, Anhui Jianghuai Automobile Co. Ltd (JAC).
Previously, the company imported spare parts for its product from Lifan, another Chinese Auto Manufacturing company, which eventually terminated over an allaged plot to take over the company.
Lifan Auto, however, dismissed Holandcar Plc's allegations as completely baseless, and clarified that the direct reason for terminating the contract in June is that Holland Car has failed to reach the sales target set by both sides.
In 2008, the Ethiopian partner only achieved half of the orders it had promised even after it had borrowed US$100,000 from Lifan, the Chinese company said.
Tadesse Tessema, General Manager and co-founder of Holland Car Plc said the company has now scaled up its capacity to producing six cars per day.
"When experience gained, we shall be able to assemble up to ten cars per day," he said.
Previously the company was facing serious problems leading it to cut-off its production facilities due to the shortage of foreign currency in the country.
Holland Car PLC is established in 2005 and is a joint venture between the Dutch company Trento Engineering BV in share of 50 percent and the Ethiopian company Ethio-Holland PLC in Addis Ababa 50 percent.