Indigenous automobile manufacturer, Innoson Vehicle Manufacturing (IVM) Company, has as part of its expansion drive, announced plans to establish another manufacturing plant in Owerri, Imo State.
The current expansion effort by the Innoson Group is to actualize its mission to become a giant in vehicle manufacturing in Africa by serving the country’s and continent’s vehicle needs.
This was made known by the Chairman of Innoson Group, Chief Innocent Chukwuma, when he received members of the Correspondents’ Chapel, on a facility tour of his plant in Nnewi, Anambra on Friday.
What the Chairman of Innoson Group is saying
Chukwuma who noted that the group have already acquired about 150,000sqm land for this project, appreciated the media for their continual support and partnership with his organization.
He said, “The Innoson factory expansion will be situated at Naze Owerri in Imo state. We have already acquired about 150,000sqm land for this project and construction works are ongoing.’’
Read: Why Innoson can’t takeover GT Bank
Producing for 5 African countries
Speaking at the occasion, the Head, Corporate Communications, Innoson Group, Mr Cornel Osigwe, expressed excitement over Governor Charles Soludo’s endorsement of Innoson vehicle as the official vehicle for Anambra state, which shows the durability and capacity of the made in Nigeria vehicle.
Osigwe said, “Governor Soludo is the first governor to use Innoson vehicles 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.’’
Read: Charles Soludo becomes first Nigerian state governor to use Innoson vehicles as official automobile
Innoson to produce 60,000 vehicles annually
- Osigwe said that the group will increase its vehicle manufacturing capacity from 10,000 vehicles annually to 60,000 vehicles annually after migrating from manual production plant to a fully automated production plant.
- He said, “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.’’
What you should know
- Innoson Vehicle Manufacturing Company Limited. (Commonly shortened to IVM) is a Nigerian automobile manufacturer headquartered in Nnewi, Anambra State and was founded by Chief Innocent Chukwuma Nwala.
- Innoson Vehicle Manufacturing is regarded as the largest indigenous automobile manufacturing firm and produces 70% of the car parts locally, while the rest is sourced from Japan, China, and Germany.
- The newly sworn-in Governor of Anambra State, Charles Soludo, became the first Nigerian State Governor to use Innoson vehicle as official car.
I am impressed with the quality of IVM cars. I feel strongly that it is time for the company to go public. This will afford company opportunity to establish more production plants, at least 4, to produce for the Nigerian Market and other African Countries. Remember, IVM now has a competitor in the assembly plant of Peugeot Cars by Mr. Dangote. Going public will still allow owner to have majority shares but will have more capital for expansion. The time to go public is NOW!
Great feat. Our great country on the move. Soon, it will be expanded to europe, usa, etc.
May the Lord protect the new plant in imo state.
Congratulations and greener yrs of productive expansion.