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The Chairman/ CEO Innoson Vehicles, and Africa’s only vehicle manufacturing company, Sir Innocent Chukwuma has disclosed plans produce vehicle brands that would cost less than one million naira.
Sir Chukwuma, made this known during a tour and media interaction of the company’s manufacturing plant located at the Innoson industrial estate, Akwa-Uru, Umudim, Nnewi in Anambra state on Tuesday.
During the tour, Mr Chukwuma said he’s aware of this concern and was making efforts to roll out affordable yet quality cars, but that he was constrained by the high cost of production.
“We have plans to produce a vehicle that would be priced between eight hundred thousand to one million naira, but the cost of producing a quality vehicle at such a price is challenging,” Mr Chukwuma said, adding that “we are working to surmount this challenge.”
The multi industrialist has asked Nigerians to take pride in the ownership of the made in Nigeria brand (IVM).
According to him,“This industry should not be left to the different levels of government alone. States and the federal government have been very supportive, but, this industry is for every Nigerian.
“I want everyone in the country to know that Innoson vehicles are for Nigerians. Let everybody see Innoson as our own product. I’d love for us to achieve that.
“As a Nigerian, when you see Innoson in any part of the world, you’ll know that this is our own. It gives a sense of pride. So whether government buys or not, if Nigerians can see the vehicles like our own, that for me will be a great milestone.”
He noted that the brand has received acceptance in recent years and “appears that Nigerians are open to the idea of owning an Innoson, however, some say that compared to more known foreign brands, the Innoson vehicles are pricey.
“The company sells its sedans, such as the IVM Connect and IVM SMART G20 for N8,500,000, and the highest-selling vehicle, its SUV, the IVM G80 for N49,700,000.
“Nigerians should understand that what we do here is manufacturing. We do not assemble vehicles, but manufacture from scratch. And most of our materials are locally sourced.
However, the vehicle manufacturer has over the years received patronage from the federal government and MDAs and state governments across the country, with several of Nigeria’s security agencies having in their fleet of vehicles Innoson motors”, he concluded.
(Contributions: People’s Gazette)