FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds



Marathon Motors Expands EV Lineup, Pushes Charging Partnerships


Marathon Motors Expands EV Lineup, Pushes Charging Partnerships

A pioneer in electric vehicle (EV) assembly, Marathon Motors Engineering, unveiled new models along with warranty and charging services at its plant on the outskirts of Addis Abeba last week. The company's lineup features the Hyundai Ioniq 5—priced at 9.25 million Br—with a range of up to 600 km on a single charge as well as the 2nd Generation Hyundai Kona EV, which can travel more than 550 km on a full charge and is priced at 7.25 million Br with discounts in view of the company’s 15-year establishment anniversary. A shorter-range Kona is availed at 5.85 million Br. At the unveiling ceremony in the presence of Bereo Hassen, state minister of transport service sector at the Ministry of Transport and Logistics, as well as Kang Jung, ambassador of the Republic of Korea to Ethiopia, co-founder and CEO Melkamu Assefa noted that the company currently operates charging stations at its Haile Garment site. He noted that the company has cooperated with Total Energies to install charging infrastructures at their fuel stations with the one at the Bole Road branch already installed. Marathon Motors, co-founded by Haile Gebreselassie, currently offers 15 different models, both EV and fuel-powered. The Hyundai vehicles are supported with an eight-year or 160,000km warranty on the main battery along with a complimentary one-year charging card.

[ssba-buttons]

Radar

Federal Prosecutors Accuse Public Officials, Contractors of Corruption, Alleged Illicit Fund Transfers

Federal prosecutors have filed corruption and money laundering charges against 11 defendants, including Nigstu Bogale, Coordinator of the Development Project for Response to the Impact of Refugees in the Horn of Africa at the Ministry of Agriculture, Biniyam Fantaye and Taye Habte, senior irrigation engineers involved in the Development Response to Displacement Impacts Project (DRDIP-II), as well as private individuals and construction company representatives. The case alleges losses and illicit...


Radar

EIH Transitions to New Headquarters as It Oversees Major State-Owned Enterprises

Ethiopian Investment Holdings (EIH) is relocating its headquarters from its current site on General Wingate Street. The former headquarters was located behind the Ministry of Industry and near Abrehot Library. The new office is expected to be on Mozambique Street, along the route from Mexico Square to Bulgaria Road. The building belongs to one of EIH's subsidiaries, and all departments are set to move there as interior design and finishing works continue. Under the leadership of Brook Taye...


Radar

Import Substitution Push Lifts Domestic Manufacturing, Industrial Recovery

A push for import substitution and industrial expansion has prioritised 96 strategic products for local manufacturing. The “Ethiopia Tamirt” initiative reports 4.85 billion dollars in savings, supported by trade fairs linking local producers to domestic and international markets. On average, 700 new projects enter the market annually, contributing to more than 2,800 investments over four years. At the grassroots level, 18,000 SMEs have been established, while 993 dormant factories have...