Hisense and Condor Deepen Partnership to Build Largest Air Conditioner Factory in Africa
On 20 February 2025, Hisense (SZSE: 000921) and Condor signed a partnership agreement to build an air conditioner factory in Algeria. The plant is located at Bordj and will have a production capacity of 1.6 million units, with 80% destined for export and 20% for the local market.
The signature ceremony took place in the context the Hisense #MICE Event with all the Hisense distributors in the Middle-East and North Africa (#MENA) region converging to Algeria to discuss the future of the partnership. The unveiling of the plan for this new factory comes after a recent similar accord between Hisense and FBB Tech to build a TV factory in Egypt.
“The sale of 1.6 million units of air conditioners produced annually is projected to bring in revenue of up to USD 300 million for the joint venture. The new plant requires an investment of USD 200 million and is expected to become operational within one year.”
Condor CEO Mohamed Daas
Condor has been in partnership with Hisense for many years, acting as a distributor of their household appliances. Thus, the partnership is the manufacturing of air conditioners is a ‘natural evolution’ in an already successful partnership.
It is worth highlighting that Hisense and Condor are currently in the process of building another factory specializing in washing machines and dishwashers and the plant is about to be completed. Condor is a leader on the Algerian market for household appliances such as TV, refrigerators, air conditioners and kitchen ovens. Eventually, Condor sees Bordj Bou Arreridj evolving into an industrial complex for the manufacturing of household appliances.
On its part, Hisense considers Algeria as a manufacturing hub and gateway to the Arab League nations, African and European markets. Algeria has a number of Free Trade Agreements (#FTA) — notably, the African Continental Free Trade Area (#AfCFTA), the Greater Arab Free Trade Area (#GAFTA), and the Association Agreement (#AA) between Algeria and the #EU — which provide preferential access to these markets.
In the future, Condor ambitions to venture into the production smartphones and Electric Vehicles (#EV). To that effect, a Condor insider revealed that the company is already in talks with certain potential partners.