*Aims at 60,000 vehicles yearly
By Ojo Nnaezue, Nnewi
Innoson Vehicle Manufacturing Company (IVM) plans to establish a plant in Owerri, Imo State, where additional 60,000 vehicles will be produced yearly.
This is part of its vision to become the dominant player in the African auto manufacturing sector.
Innoson Group Chairman, Chief Innocent Chukwuma, said about 150,000 square metres of land have been acquired for the project and expressed appreciation to the media for its support and partnership.
He spoke when he received members of the Correspondents Chapel on a facility tour of the AVM factory in Nnewi, Anambra State.
“The Innoson factory expansion will be situated at Naze near Owerri in Imo State.
“We have already acquired about 150,000sqm land for this project and construction works are ongoing,’’ Chukwuma said.
*Producing for African countries
The Head, Innoson Group Corporate Communications, Cornel Osigwe, expressed delight at Governor Charles Soludo’s choice of Innoson as the official vehicle for Anambra, saying it shows the durability and capacity of Nigerian made vehicles.
“Soludo is the first Governor to use Innoson vehicle as official vehicle and we are hopeful that such endorsement will increase patronage from other state governments, corporate organisations and other well-meaning Nigerians.
“Presently, IVM is producing vehicles for about five countries in Africa including Sierra Leone, Mali, Congo, and Côte d’Ivoire,’’ Osigwe added.
*Migration from manual to automated production
Osigwe disclosed that IVM will increase production capacity after migrating from manual to a fully automated production plant.
“The manual production plant has the capacity to produce about 10,000 vehicles annually but at the completion of the migration to a fully automated production plant, it will have the capacity to produce about 60,000 annually.’’
*Background
IVM is a Nigerian vehicle manufacturer based in Nnewi. It was founded in 2007 by Chukwuma.
It is the largest indigenous automobile manufacturer, and produces 70 per cent of car parts locally and sources the rest from Japan, China, and Germany.
