HD Hyundai Infracore's construction equipment brand Develon said on the 6th that it sold 1,300 units in Ethiopia this year. That was up 470% from a year earlier. The increase is interpreted as the result of rising equipment demand as local gold mine development projects expand.
About 90% of the equipment sold in Ethiopia were Develon's 36-ton excavator (DX360) models. More than 1,100 units were sold this year alone. Ethiopia has many small and mid-size gold mines, so equipment is frequently moved during the mining stage. HD Hyundai Infracore said the DX360 has structural rigidity suitable for high-intensity work, as well as fuel efficiency and maneuverability.
HD Hyundai Infracore is expanding its sales base in major West African markets, including by establishing a branch in Accra, the capital of Ghana, in 2023.
A HD Hyundai Infracore official said, "This performance in Ethiopia is a concrete example of the results of our strategy to expand into emerging markets rather than relying on China and advanced markets," adding, "We will continue to develop Australia and Southeast Asia as our second and third strategic markets."