CEM REPORT, AUTOMOBILE | Innoson Vehicle Manufacturing (IVM) has revealed plans to set up an electric vehicle manufacturing plant in Nigeria.
This is as the Nigeria indigenous vehicle manufacturing company said major marketers have shown positive interest in its compressed natural gas (CNG) vehicles.
According to the company’s Head of Corporate Communications, Cornel Osigwe, while speaking on Arise Television, the decision to venture into electric cars is informed by the availability of major components needed in the production of electric vehicles in Nigeria.
“In terms of electric vehicles, we have a strategic approach. The chairman has concluded plans to set up an EV manufacturing plant in Nigeria because every major component of producing the electric car is in Nigeria.
“All the raw materials are in Nigeria. It doesn’t make sense importing battery and major components of electric car battery which is the most expensive products of EVs.”
“So, the Chairman has thought it wise to set up an EV manufacturing company in Nigeria so that we can be able to start producing the EV.”
Osigwe also announced that the automaker had begun producing compressed natural gas (CNG) vehicles.
He claims that several significant marketers just bought some Innoson-powered CNG cars and donated them to the president.
“We have started producing CNG vehicles. Just recently, about last week or two, we have major marketers that purchased several CNG-enabled buses that we produced and donated to the presidency.”