Mesfin Industrial Engineering, Ethiopia launched a new vehicle model named ‘Addis’. The new model which is equipped with 
a capacity of 1300cc is the second new line inaugurated by MIE within a year.
The new model is expected to cost the 430 thousand birr with customers paying 30% beforehand and the remaining 70% upon delivery.
MIE has assembled 32 Addis vehicles so far and plans to enhance its capacity to 1000 vehicles every year. The vehicles are assembled by the company from parts imported by Chinese automobile manufacturer Geely International.
The previous model launched by MIE, the Saba, is a longer and higher than the new Addis model and is more comfortable with a reverse radar system, MP3 player, sensor and can travel an average of 13 kilometers for the liter.MIE was able to sell more than 400 of this model in the first year of marketing and is in the process of negotiating credit facilities for customers with Wegagen Bank so that they are able to pay in installments to increase demand for the vehicles.
MIE launched operations in 1993 with 30 employees and 7 million birr in capital. The company now has more than 1400 employees and 300 million birr capital with an annual sales turn over estimated to be greater than 600 million birr.
The company is also engaged in the manufacturing of trailers, liquid and dry cargo bodies, low beds as well as fuel storage tanks, and parts for fertilizer, cement and sugar factories.
Source: Capital
