The Astana Motors company will produce components for Hyundai cars in Almaty.
Recently in Seoul, as part of the official visit of the government delegation of Kazakhstan to Korea, Astana Motors signed an agreement with Youngsan Glonet Corp. Ltd. on granting the right to produce car seats using Youngsan technology and with Motrex Co Ltd., with the right to produce multimedia devices using Motrex technology.
At the contract signing ceremony, the Chairman of Motrex Co Ltd. Mr. Lee Hyung Hwan thanked the Kazakh government and Astana Motors for their interest in cooperation and emphasized that the Kazakh automotive industry is rapidly developing, and Motrex Co Ltd., in turn, has high hopes for the prospects for joint work on multimedia production in Kazakhstan.
“We are pleased to supply components for the production of Motrex multimedia systems for small-unit production at the Hyundai Trans Kazakhstan plant and subsequently for other Kazakh enterprises,” – Mr. Lee Hyung Hwan noted.
Chairman of Youngsan Glonet Corp. Ltd. Mr. Park Yong Bum noted that the production of car seats will be an important step in the development of the Hyundai Trans Kazakhstan plant and the automotive industry in Kazakhstan as a whole.
“Today we signed a contract with Astana Motors and will continue to make greater efforts to implement the project for the production of automotive components in Kazakhstan,” – Mr. Park Yong Bum emphasized.
According to the director of the agency for monitoring and analysis of the automotive market, Artur Miskaryan, the creation of capacities for the production of automotive components is a logical stage in the “maturing” of the automotive industry in any country in the world, which directly depends on the market capacity.
“The fact that new production facilities are emerging now, when the number of passenger cars produced has exceeded 100 thousand, shows that, despite all the difficulties in the global market, the Kazakh automobile industry continues to develop according to all the laws of the industry. It is clear that the localization of auto components, on the one hand, requires a certain investment potential and regulatory stability. On the other hand, this process always entails the creation of new, qualified jobs, an increase in tax deductions and, most importantly for the consumer, price stabilization,” – Arthur Miskaryan commented on the news about the localization of automotive components in Kazakhstan.
He also added that in recent years, the domestic automotive industry has shown consistently positive dynamics in both sales and production.
“Global and Kazakh market players are adapting to new working conditions, reviewing business models, and restructuring logistics. Over the past year, 124 thousand new cars were sold in Kazakhstan and more than 100 thousand passenger cars were produced, thus, in 2022, production in the country increased by almost a quarter.”
Let us remind you that Astana Motors is currently at the design stage of constructing a complex of factories on an area of more than 10 hectares in the Industrial Zone of Almaty for the production of car seats, polyurethane mats, fender liners, mudguards and multimedia systems for Hyundai cars. The launch of the enterprises is scheduled for early 2024.
Investments in the construction of an automotive components production complex will amount to about 6,8 billion tenge, including about 0,9 billion tenge for organizing multimedia production, up to 4,3 billion tenge for a plant for the production of car seats and order 1,6 billion tenge for an enterprise for the production of mats, fender liners, and mudguards. The area of production premises is more than 7,7 thousand sq. meters. About 90 jobs will be created at the enterprises.