NADDC lauds around $1bn expenditure in automotive business

As Stallion Group unveils Hyundai Kona Electric powered Automobile

By Gabriel Ewepu – Abuja

Nationwide Automotive Design and style and Advancement Council, NADDC, Friday, lauded in excess of $1 billion financial commitment in the automotive field.

This was designed known by the Director-Normal, NADDC, Jelani Aliyu, Abuja at the unveiling of Hyundai Kona Electrical Automobile, Nigeria’s initially domestically assembled electrical car in Abuja.

According to Aliyu the expenditure is from equally nearby and foreign buyers in the nation’s automotive marketplace.

He maintained that it was as a end result of the take care of of the Buhari-led administration’s energy to build an enabling environment for traders that brought about the enormous investments in the production of automobiles in Nigeria.

He stated: “As of 2019 over $1 billion have been invested in the business with about 400,000 set up capacity by credible nearby and intercontinental buyers such as the Stallion Group which by yourself has invested shut to $300 million.

“Nigerians can only reside a profitable and content existence when the country is industrialised and by means of leveraging innovative technological innovation.

“In the automotive sector, we are strategising to empower and integrate innovative technological innovation in the mobility solutions manufactured and made use of in the state so as to significantly enrich the life of all Nigerians.”

Meanwhile, the Minister of Marketplace, Trade, and Investment, Niyi Adebayo, recommended Stallion Team for placing the tempo and putting the Nigerian automotive market among the countries that have embraced the period of electric powered cars and trucks.

Adebayo also stated that his Ministry is collaborating with the NADDC is placing in position mechanisms to assure transition by Nigerians from the use of Premium Motor Spirit, PMS, also known as petrol and diesel-powered vehicles to other electricity-powered motor vehicles placing the setting into consideration due to several environmental difficulties.

He stated: “Electric automobile has a large amount of rewards. Aside from acquiring zero emission of carbon, it will also guarantee the reduction of queues at our fueling stations, especially at occasions of scarcity.”

In appreciating the federal government’s backing and developing enabling atmosphere for a thriving debut of Kona Electric powered Automobiles in Nigeria, which is a new vista and chance produced in the economy, the Main Government Officer of Stallion Team, Anant Badjatya, also alluded to the reality that Hyundai Kona Electrical Car or truck is a little bit on the high facet for Nigerians in phrases of paying for the cars.

Badjatya also promised that the enterprise will do everything feasible to make them reasonably priced.

“The most vital factor is for us to recognize that we must embrace the future, this is the long run of automobile. All people is shifting away from the petrol engines and Nigerians shouldn’t be remaining guiding. Nigerians are very innovative”, he said.

Vanguard News Nigeria