Marathon Motors to Assemble Electric Cars

Marathon Motor Engineering Plc, an assembler of Korean-owned Hyundai car, has announced that it will begin assembling electric cars in the coming three months. Preparations are underway to complete the first phase importation of the cars that will be fully assembled by the company. While the vehicles can be recharged with electricity available at home, they don’t require using lubricants and oil, which potentially help the country save foreign currencies spent to import such items. The electric cars are also expected to be affordable and they will not be more than 10Pct higher than the price of a regular vehicle with 1600 CC, the company said. An excise tax of five percent is going to be levied on electric cars, making it cheaper compared to old cars that face as much as 500Pct tax, according to the new draft proclamation that is now being reviewed by the Ministry of Finance.