Innovative black-owned car manufacturer upbeat about the future

By Amanda E Jojo

THE future outlook for Mureza Auto Company is laden with optimism following its lined-up undertakings for the year 2022 and beyond, The Entrepreneurial Magazine reports.

In a statement, Mureza Auto Company announced that it is set to embark on activities that will ensure value addition and expansion of its operations.

The car manufacturing firm currently operates from one factory in Tehran, Iran, with a capacity to manufacture 200 units per month of the Prim8 (the flagship model) and Gino models. The manufacturing is under a partnership with SAIPA, a leading Iranian automaker.

The statement revealed that: “The government of Zimbabwe has committed to assisting Mureza with setting up a CKD production line thus factories will be established in Harare and Bulawayo. Additionally, a recycling plant will be set up in line with the Zimbabwe Motor Industry Development Policy (ZMIDP) aim to reequip and replace obsolete machinery.”

Government of Zimbabwe came up with the Zimbabwe Motor Industry Development Policy (2018-2030) to revive the motor industry by promoting local assembly and exports.

“The ZMIDP has created an opportunity for Mureza Auto Company and other players within the country as it will allow for immense value creation and aid in the resuscitation of the industry. The government has committed to support the industry in various ways that include purchasing locally manufactured vehicles,” read the statement.

In addition, innovation hubs are currently in the pipeline as Mureza aims to source its components from local manufacturers.

“Joint ventures will be established with tertiary institutions for the development and production of these parts. Training workshops shall be conducted to equip individuals with the knowledge and skillset required to manufacture the vehicles. 800 jobs are set to be created to cater for the entire chain.”

Presently the Prime8 and the Gino are the two vehicles on offer Additional models are in advanced stages of development. After-service partners were obtained to provide post acquisition servicing, repairs and spare parts.

Mureza disclosed that additional models are in advanced stages of development and it will obtain post acquisition servicing, repairs and spare parts from its after-service partners.

In terms of investment and opportunities, the Auto Car manufacturer said a Finance Think Tank of experienced financial experts in sub-Sahara has been created.

“Their main focus is to unlock the various financing avenues available to Mureza and aid in capital optimization. Investment opportunities shall be availed and will be communicated in future stakeholder engagements,” read the statement.