Business News

Pioneer indigenous car manufacturer, Innoson Vehicle Manufacturing Company Limited, over the weekend, rolled out 500 made-in-Nigeria cars.

Speaking at the launch, the Chairman, Innoson Group, Dr. Innocent Chukwuma, whose company is one of the ten inaugural members of the Bank of Industry Hall of Fame, revealed that his intention is to make cars more affordable for Nigerians, while creating employment for Nigerians and boosting the local economy.

According to him, the journey to manufacturing automobiles started with making motorcycles, and later to buses “because of its high demand in the country”. He added that the list of offerings from IVM increased later, with the addition of Sports Utility Vehicles (SUVs), pick-up vans, trucks and now cars.

Chief Chukwuma averred that the raw materials for his products were mostly sourced locally and that his buses, trucks and SUVs already enjoy nationwide acceptance, which he believes will also apply to the latest addition – cars. He promised Nigerians that “IVM cars will never disappoint Nigerians. We are here not only to promote the economy, but also to cre­ate employment for Nigerians. If we have more demands of our vehicles we will stand firm to increase our workforce thus reducing unemployment level in the country. I, therefore, enjoin Nigerians to take advantage of this new dawn, the IVM ve­hicles are their own and are here to serve them for the better”. If his antecedents are anything to go by, then his target of reducing the cost of cars look like a possibility, given what his company achieved with the local manufacturing of motorcycles.

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