Volkswagen to invest in Ethiopia

Volkswagen (VW) has big plans for business in Ethiopia. The German car brand has chosen this country as its next stepping stone for its business development on the continent. The brand is planning to build a vehicle assembly plant in Ethiopia.

Volkswagen has good reasons to choose Ethiopia, as the country is experiencing a fast development of its economy. Africa News reports that over the last ten years, the GDP growth rate in Ethiopia was above 8 percent – one of the highest worldwide.

VW is planning the development of four key business activities. The car brand will establisha vehicle assembly facility and it plans to produce and stock automotive components in Ethiopia. The brand is also planning the introduction of mobility concepts such as app-based car sharing and ride hailing as well as the opening of a training center.

Earlier, Volkswagen announced similar expansion plans in Ghana and Nigeria. Volkswagen has been manufacturing vehicles in South Africa since 1951. In Africa, Volkswagen also has vehicle assembly operations in Algeria, Kenya and Rwanda.

Further reading on africanews.com

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