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Nigerian auto company Globe Motors is set to roll-out the first line of vehicles next month, which are being assembled at its new automobile assembly plant in Lagos
Globe Motors Holdings chairman William Anumudu said that three brands of automobiles – Hyundai, Higer and its own – would be in the first train from the assembly plant that is expected to cost over US$150mn on completion.
The company has signed agreements with the original equipment manufacturers (OEM) of these brands to produce the vehicles for Nigeria using global standards. Anumudu explained that the company would start with the production of semi knockdown parts (SKD) and later graduate to completely knockdown parts.
The plant would produce 6,000 vehicles per annum in its initial phase, and upon completion, it would produce a minimum of 40,000 vehicles per annum. The vehicles from the plant would be in various segments like commercial, passenger vehicles, low, medium and high capacity vehicles, SUV, pickups, light and heavy duty trucks.
Commending the Federal Government for coming up with a policy for the auto industry, Anumudu said, “We have made a lot of progress in the new plant. We keyed into the government’s auto policy, though, we were hesitant at the beginning, but we have realised it is the way to the nation’s economic development.”