KATHMANDU: Laxmi Intercontinental, the authorised dealer of Hyundai cars for Nepal, has unveiled the price of Hyundai Venue produced in Nepal by its sister company Laxmi Motor Corporation.

Issuing a recent statement, the company said that the price of Hyundai Venue 1.2 (S) has been fixed at Rs 44,96,000 and the price of Hyundai Venue 1.2 (SX) has been fixed at Rs 53,56,000. The company added that both the models produced in Nepal are now available for sale.

The company has also announced a financing scheme at 6.99 percent interest and 10 years of free servicing as well as three years of warranty for purchasing a Hyundai Venue under this plan.

Laxmi Motor Corporation was established in Nepal with the investment of Laxmi Group and technical support from Hyundai Motor Company.

This is the first time that a vehicle assembling plant has produced a vehicle in Nepal.

The company claims that the structure, quality, performance and other properties of Venue produced in Nepal are the same as vehicles of the same model manufactured by Hyundai Motor Company in South Korea or India.

The aim of the company is to produce vehicles in the domestic market and help industrialize the country. It also aims for import substitution, create jobs, increase domestic revenue, develop skill and technology, consume domestic resources and electricity, contribute to the gross domestic product, and provide vehicles at an affordable price to the consumers, added the statement.