Staff Reporter

Willowvale Motor Industries (WM1) is set to resume assembling vehicles in the second quarter of 2024 after a halt of more than five years.

The motor industry is set to resume its operations as it has entered into a partnership with Ashok Leyland, the flagship company of the Hinduja Group and the top Indian manufacturer of commercial vehicles.

According to a source, the Exim-Import Bank of India approved a credit facility for the Ashok Leyland company, which amounts to over US$70 million.

‘‘The US$70 million is expected to be disbursed and managed by the AFREXIM Bank, awaiting further disbursement to Ashok Leyland and WMI. During the second quarter of this year, WMI is expected to start assembling trucks and buses that would be sold at an affordable price,’’ he said.

The same source revealed that Ashok Layland will provide semi-knocked-down trucks and bus kits, which will be further assembled into complete units by WMI.

Economic commentator, Terrence Chipwanya said that the resumption of WMI operations was in line with President Mnangagwa’s Vision 2030 trajectory, which seeks to focus on promoting innovation and equitable development.

Chipwanya added that the resumption of WMI operations was a welcome development, as it would also help create employment for the local people.

“The efforts to restore WMI operations are part of national efforts to recreate a heavy industrial base in Zimbabwe, which will also create employment and opportunities for all Zimbabweans,” said Chipwanya.

The economic commentator added that Zimbabwe has remained a friend to all and an enemy to none, hence the evidence of the contributions being made by foreign investors to revamp the country’s industries.

Meanwhile, WMI, partly owned by Mazda, ceased vehicle assembly in 2017, and the resumption of operations will save this vital company from completely closing its doors.