The Marathon Motor Engineering, Plc. is a

joint venture A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acces ...

between South Korean automobile manufacturer

Hyundai Motor Company Hyundai Motor Company, often abbreviated to Hyundai Motors ( ) and commonly known as Hyundai (, ; ), is a South Korean multinational automotive manufacturer headquartered in Seoul, South Korea, and founded in 1967. Currently, the company o ...

and Ethiopian former long-distance runner

Haile Gebrselassie Haile Gebrselassie ( am, ኀይሌ ገብረ ሥላሴ, ''haylē gebre silassē''; born 18 April 1973) is an Ethiopian retired long-distance track, road running athlete, and businessman. He won two Olympic gold medals and four World Champions ...

. The company is located in

Addis Ababa Addis Ababa (; am, አዲስ አበባ, , new flower ; also known as , lit. "natural spring" in Oromo), is the capital and largest city of Ethiopia. It is also served as major administrative center of the Oromia Region. In the 2007 census, t ...

Ethiopia Ethiopia, , om, Itiyoophiyaa, so, Itoobiya, ti, ኢትዮጵያ, Ítiyop'iya, aa, Itiyoppiya officially the Federal Democratic Republic of Ethiopia, is a landlocked country in the Horn of Africa. It shares borders with Eritrea to the ...

, and was founded in 2009. The firm is the official general importer of Hyundai vehicles in Ethiopia. For the first time, the company was presenting itself on the press conference of the

Haile Resort Haile ( Ge'ez "the power of") may refer to: ;People with the given name Haile * Haile Selassie of Ethiopia (1892–1975), Emperor of Ethiopia * Haile Gerima (born 1946), Ethiopian filmmaker * Haile Gebrselassie (born 1973), Ethiopian distance runne ...

presentation in

Awasa Hawassa ( am, አዋሳ; ʾäwasa, also spelled Awassa or Awasa) known historically as Adare is a city in Ethiopia, on the shores of Lake Awassa in the Great Rift Valley. It is south of Addis Ababa via Bishoftu, east of Sodo, and north of ...

. Currently, it cooperates with Hyundai running the erected automobile assembly plant in

Nifas Silk-Lafto Nifas Silk-Lafto,Lafto is sometimes spelled "Lafito" also spelled Niffassilk Lafto or Nefassilk Lafto (Amharic: ንፋስ ስልክ ላፍቶ ክፍለ ከተማ), is a district of Addis Ababa, Ethiopia. As of 2011 its population was of 335,740. ...

, Addis Ababa, which had been inaugurated in February 2019. As of July 2020, it already started assembling the electric

Hyundai Ioniq The Hyundai Ioniq is a compact five-door liftback manufactured and marketed by Hyundai. The nameplate ''Ioniq'' is a portmanteau of '' ion'' and ''unique''. It is marketed as the first automobile to be offered without a standard internal combu ...

References

{{Automotive industry in Ethiopia Electric vehicle manufacturers Car manufacturers of Ethiopia Joint ventures Hyundai Motor Company Companies based in Addis Ababa Vehicle manufacturing companies established in 2009 2009 establishments in Ethiopia