Founded in 1985 by Mr. Iftekhar Ahmed Tipu, IFAD Group has become a cornerstone of Bangladesh’s business community. Initially focused on stability and growth, IFAD Group now spans multiple industries, including automobiles, lubricants, industrial compressors, food, toiletries, media, and information technology.
Today, IFAD Group is recognized as one of the nation’s top business conglomerates, known for employing a diverse and skilled workforce. The company emphasizes ethical business practices and strives to enhance society and the environment. Innovation lies at the core of its operations, aiming to create shared value and prioritizing customer needs and diversity.
Under Mr. Iftekhar Ahmed Tipu’s leadership, IFAD Group continues to thrive, demonstrating enduring vitality and a strong commitment to advancing Bangladesh’s economic landscape. Some of their most successful companies are all related to the automobile industry.
The success of IFAD Group can be traced back very easily to its origin. The group got its start with IFAD Autos, established in 1985. It has now become a leading automobile company in Bangladesh. In 1994, IFAD Autos became the sole dealer for Ashok Leyland in Bangladesh. Currently, it delivers over 40,000 vehicles. Their delivery includes trucks, buses, and special vehicles like dump trucks and water tankers, prime movers, etc.
IFAD Autos finally went public in January 2015 and they also joined hands with Ashok Leyland. IFAD Autos PLC. has a state-of-the-art manufacturing plant that can produce 10,000 units annually. IFAD Autos has also been the sole supplier of Double Decker buses to the Bangladeshi government since 1987 and has supplied buses under every Indian Line of Credit program.
Recognized as one of the top ten largest and most creditworthy borrowers by the Central Bank of Bangladesh, IFAD Autos received "The World's Greatest Brand Award" from AsiaOne Magazine in 2018. The same year, it partnered with Gulf Oil International to form Gulf Oil Bangladesh. This joint venture sets up a blending plant at Mirsharai Economic Zone to meet local and regional demands.
IFAD Autos PLC. stands out for its quality, innovation, and technical excellence, making it a trusted name in Bangladesh’s automobile industry.
Along with IFAD Autos PLC. IFAD Group established IFAD Auto Services LTD. in 2016. It provided top-notch support for Ashok Leyland vehicle owners across Bangladesh. The company built a nationwide after-sales service network. Currently, there are 20 service centers and 10 authorized service stations. Customers have access to over 350 retail parts outlets and 1,700 authorized mechanics.
Included in their nationwide network of service centers is the largest one in the country. It was built on the Dhaka-Chittagong highway. The facility provides comprehensive accident repair services, driver and mechanic training, and easy access to spare parts through a modern database management system.
The main target of IFAD Auto Services LTD. is to provide extensive support by utilizing cutting-edge technology. This automobile company now plays a crucial role in maintaining the reliability and performance of commercial vehicles nationwide.
The latest addition to the automobile industry from IFAD Group is IFAD Motors Limited, established in 2021. They are currently the only ones to bring in "Apollo Tyres" to the Bangladesh market. They built over 160 dealers to create a vast and comprehensive network. These tires, made in India and Europe, cater to all kinds of vehicles, including commercial trucks, passenger cars, motorcycles, farm equipment, and industrial machines.
IFAD Motors is also the only manufacturer and distributor of "Royal Enfield" motorcycles in Bangladesh. Royal Enfield is the oldest motorcycle brand in continuous production worldwide. It sells its bikes in over 50 countries. And Bangladesh is one of those countries thanks to IFAD Motors LTD.
IFAD Motors’ partnership with these renowned brands highlights its commitment to quality and innovation in the automotive sector. Through its extensive network and trusted products, IFAD Motors Limited continues to enhance the driving experience for its customers across Bangladesh.
BDST: 1358 HRS, NOV 22, 2024
MSK
