ADM, Hyundai Corporation Singapore and FINCOM form joint venture
A new car leasing project is being launched in Uzbekistan, designed to expand access to modern financing tools for businesses and the general public. ADM Group, Hyundai Corporation Singapore, and leasing company FINCOM have formed a joint venture. Initial investment will amount to approximately $40 million.
ADM, Hyundai Corporation Singapore, and FINCOM Announce Joint Venture
Tashkent, Uzbekistan (UzDaily.uz) — A new automobile leasing project is launching in Uzbekistan, designed to expand access to modern financial instruments for businesses and the general public. ADM Group, Hyundai Corporation Singapore, and leasing company FINCOM have joined forces to establish a joint venture. Initial investments will amount to approximately $40 million.
Over five years, the partners intend to build an investment and leasing portfolio of up to $100 million.
The project is expected to expand car purchase options through installment plans and leasing, contributing to the further development of Uzbekistan's automotive industry.
The partnership agreement was signed at the Tashkent International Investment Forum. The new project combines ADM's international financial expertise, modern leasing instruments, and extensive automotive infrastructure.
FINCOM co-founder Stanislav Kim noted that each partner company brings its unique expertise and resources to the joint project.
Hyundai Corporation Singapore will provide access to international financial instruments, accumulated global experience, and modern corporate governance practices. FINCOM will focus on developing leasing products, operational management, and customer service. ADM, in turn, will provide the project with access to its dealer network, production and distribution facilities, and a broad customer base.
From Kia vehicles to expanded leasing products
Initially, new leasing solutions will be available for Kia vehicles manufactured in Uzbekistan and sold through the ADM dealer network.
Later, the partners plan to expand their product line to include other automotive brands represented in the ADM ecosystem, including CHERY, HAVAL, TANK, Changan, and Hyundai Truck & Bus.
The joint venture also intends to develop vehicle leasing and implement financial solutions for the acquisition of specialized equipment, commercial real estate, and corporate financing.
A New Tool for Market Expansion
The creation of the joint venture comes amid growing demand for alternative financing mechanisms for the acquisition of vehicles and equipment. The leasing model allows for the spread of the financial burden over a longer period and may become an additional tool for the development of small and medium-sized businesses.
The project participants hope that combining the international financial experience of Hyundai Corporation Singapore, the specialized expertise of FINCOM, and ADM's automotive infrastructure will offer the market more flexible and accessible leasing solutions.
Going forward, the expansion of leasing products may not only contribute to increased vehicle affordability but also to the development of corporate and commercial vehicle fleets, the specialized equipment market, and related economic sectors.