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October 4, 2023 37

resulted in more than four new units) and Cambodia (1,229,709 Corvo and Alita are based in and many new factories are
enterprises entering the bicycle units). Taiwan ranked fourth, with Chittagong. Panam was founded due to begin production in the
manufacturing market in the last 571,782 units. With a significant by executives from M&U, and second half of 2023. The start
2-3 years. increase in export volume, many Akiz emerged from RFL. Other of a new competitiveness was
The United Kingdom is in Bangladesh’s bicycle industry industries have also entered the expected, but high inventory
the largest importer of bicycles have started to worry about bicycle industry, such as SQ levels in Europe this year could
from Bangladesh, followed by attracting the attention of the Group, which has subsidiaries affect original production targets.
Germany, Italy, Poland, and EU, potentially leading to anti- involved in cables, wires, and Recently, the rapidly rising
Sweden. Bangladesh’s bicycles dumping investigations. other businesses. The bicycle bicycle industry in Bangladesh
also reach the Indian market, In Most of the bicycle industry in Bangladesh has is also facing the pressure of
2022, Bangladesh was the EU’s factories are in the capital, been booming and diversifying high inventory, with production
third-largest source of bicycle Dhaka, with Meghna, Cube over the past 2-3 years. dropping by 40-60% for the
imports, reaching 1,114,014 M&U, RFL, and SQ Group New companies have been entire Bangladesh bicycle
units, following China (1,430,594 located in the surrounding areas. modernizing their equipment, industry.

Meghna Group

This the largest bicycle
company in Bangladesh,
producing 700,000 units per
year with a capacity to reach 1
million. It also produces many
components, such as tires,
seats, spokes, and rims—
over 16 types of accessories in
total. Besides domestic sales ▲Assembly lines.
and exports to India, it also
exports to the UK, Germany,
Belgium, Denmark, and Italy. ▲Meghna Group Chairman, M. Mizanur Rahman Bhuiyan.
Run its chairman, Mizanur
Rahman Bhuiyan, Meghna is
a large conglomerate boasting been on a large scale, which has attracted
many businesses including overseas businesses interested in producing
car imports, as well as the in Bangladesh. In November 2018, Meghna
production of jeans, beverages, partnered with Germany's Cube to produce
and toilet paper. It has been in bicycles, drawing attention from EU
the bicycle industry for a long customers and prompting collaborative
time and its investment has orders. ▲Frame welding.

Hana(Cube)

This company assembles bicycles in its joint
venture with Meghna and also produces aluminum
and carbon fiber frames (in collaboration with
Taiwanese businesses). Cube sees the development
potential in Bangladesh and has thus chosen
to operate there. Seeing that Cube produces in
Bangladesh, some European orders naturally flow
here.
It is understood that Cube will produce nearly
one million units in 2022, making it the factory with
the largest e-bike output in Germany. This year Cube
celebrates its 30th anniversary and invites global
suppliers to visit its German headquarters. Due to
the differences in culture and philosophy between
the EU and Bangladesh, there is no advantage as
initially seen. ▲Meghna Director, Md. Mahbubur Rahman (left); Cube Bangladesh General Manager, Lukas Zakrzewski
(second from left) and Cube Sales Manager, Hao Rei Zheng (right).