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Stalled prospects
Although the companies mentioned above are already producing or soon to start production, many other local automotive ventures had their venture abruptly halted because of the ongoing pandemic.
Bangladesh Auto Industries Ltd. (BAIL), was planning to establish an electric vehicle factory on Bangabandhu Industrial Park. With an initial investment of $200 million that would total to $1 billion within the next five years, the company planned to manufacture from two-wheelers to sedans, SUVs, pick-ups, mini-trucks, and multipurpose vehicles. Unfortunately, the pandemic slowed down BAIL s plans considerably, with all plans being moved back a year. In an interview with The Daily Star Mir Masud Kabir, managing director of BAIL, said We missed the target as the suppliers could not ship the required equipment on time even though we opened letters of credit earlier on, said Mir Masud Kabir, managing director of BAIL. We were on track before the Covid-19 crisis hi ....

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