Globe Motors announces plans to produce 6,000 new vehicles annually

Globe Motors has revealed it's plans to produce affordable vehicles.

According to the Chairman of Globe Motors, Mr.

While speaking with journalists, Anumudu said these vehicles will be produced from it's new Lekki plant in Lagos state, which is set to begin assembling in July, 2016, Leadership reports.

The chairman also stressed the importance of locally manufactured vehicles, adding that his company has plans to explore other West African regions.

“We have made a lot of progress in the new plant. We keyed into the government auto policy, though, we were hesitant at the beginning and it has not been easy, but we have realised that it is the way to the nation’s economic development.

We are aware of the current administration’s plan for economic diversification and I’m personally convinced that Nigeria’s automobile industry can be a huge foreign exchange earner for the country. First of all, it has the capacity to help retain a huge chunk of resources that could have been lost in capital flight with continued importation of vehicles from foreign countries.

All developed countries of the world have thriving automobile industry, which is a catalyst to economic development. We do not have an alternative to this auto sector. So, I urge all serious auto dealers in the country to key into this noble policy of the federal government.

We have started discussions with some vehicle dealerships along the West African corridor with the view to exporting our products to other countries," he said.

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The plant, which has a full capacity of 40,000 vehicles, will use semi knocked down (SKD) parts to assemble Hyundai, Higher and Globe Motors brand automobiles.