Nissan, Stallion to build vehicle assembly deal in Nigeria

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imagesThe Renault-Nissan Alliance and West African conglomerate, Stallion Group, have signed a preliminary agreement to start vehicle assembly in Nigeria.

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Carlos Ghosn, the Chief Executive of Nissan and Renault, said in a statement on Wednesday in Lagos.

The statement said that the plan may potentially create a major Nissan manufacturing hub for Africa.

It said that the memorandum of understanding would see Stallion, which was Nissan’s exclusive distributor in the country, increase capacity at its existing plant in Lagos.

“Stallion currently produces commercial vehicles at the facility, but the plant’s annual capacity will be expanded to 45,000 units to assemble a range of cars, light duty trucks, pickups and vans.

“Nissan is preparing to make Nigeria a significant manufacturing hub in Africa.

“As the first-mover in Nigeria, we are positioned for the long-term growth of this market and across the broader continent”.

The statement said that the move came when the government was expected to approve a new policy designed to encourage the development of the automobile industry in Nigeria.

It said that the first vehicle to be introduced would be the Nissan Patrol SUV in the spring of next year.

The statement said that the plant would also be opened to the French auto group, Renault, though the companies did not give any details.

It said that Japan’s Nissan was aiming to double annual sales in Africa by 2016 from 110,000 units last year.

The statement said that the alliance had already planned to launch the Datsun brand in South Africa before the end of next year. (Reuters/NAN)


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Babatunde Akinsola
Babatunde Akinsolahttps://naija247news.com
Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

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