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The Renault-Nissan Alliance and Stallion Group sign Memorandum of Understanding for vehicle assembly in Lagos
Nissan to become the first major global auto manufacturer to assemble vehicles in Nigeria following legislation change
Potential to develop plant into a major manufacturing hub for Nissan in Africa
Today Nissan and West African conglomerate Stallion Group announced their intention to jointly launch vehicle assembly in
The announcement is in expectation of final approval by the Federal Government of the new Automobile Industrial Policy, designed to encourage development of the auto industry in
Nigeria, and would see Nissan become the first major international manufacturer to launch vehicle assembly in the country following the new legislation.
The parties have signed a Memorandum of Understanding which will result in Stallion - already Nissan's exclusive distributor in
Nigeria - increasing capacity at its existing plant, VON Automobile Ltd in
Stallion currently produces commercial vehicles at the facility. The plant's annual capacity will be expanded to 45,000 units to assemble a range of cars, light duty trucks, pickups and vans. Full details of the product lineup will be confirmed at a later date, however it is anticipated the first product to be introduced will be the iconic Nissan Patrol SUV in spring 2014.
Capacity at the plant will also be opened to Nissan's Alliance partner Renault, to be utilized according to future business needs.
Nissan President and CEO,
Carlos Ghosn, said: "We welcome the proactive measures being taken by the Government of
Nigeria to encourage inward investment and job creation driven by local auto manufacturing. Together with our local partner, Nissan is preparing to make
Nigeria a significant manufacturing hub in
Africa. As the first-mover in
Nigeria, we are positioned for the long-term growth of this market and across the broader continent."
For the full press release, go to: http://www.media.blog.alliance-renault-nissan.com/news/4524