Billionaire businessman, Aliko Dangote in conjunction with Peugeot, owned by the Stellantis Group, the Kano and Kaduna state governments, has started the assembly of vehicles in Nigeria, taking on Innoson Motors, a dominant local manufacturing and assembly firm.
The companies are assembling the vehicles at the new Greenfield Ultima Assembly plant located in the northwest part of Nigeria. The plant was built to operate at full capacity and is touted to have the capacity to assemble close to 120 vehicles per day across all its outfits.
What the company said
The manufacturing director of the plant, Ibrahim Issa Gachi said that the newly assembled vehicles will flaunt the latest technology and safety features that would ensure its users are safe.
Gachi’s statement also said that the company has ensured the spare parts for all the newly assembled vehicles are made in local markets.
Also, so as to promote the sale of the new models of Peugeot, it is re-establishing contacts with Peugeot dealers all across the country to ensure a soft landing into the market and also ensure that the firm maintains a reliable reputation.
How it started
In 2016, the Kaduna State government, Dangote Group and the Bank of Industry were to a majority stake in the Kaduna-bases Peugeot Automobile which was moribund.
In 2017, reports said that the business mogul has acquired the license to establish a Peugeot plant in Nigeria five years ago.