South Korean Car Company Rolls Out Locally Assembled CNG-Powered Vehicles, Auto Finance Options
- A South Korean car firm has announced the rollout of locally-assembled CNG-powered vehicles
- The company said the vehicles, which come in various models, were meant to key into the CNG policy of the Nigerian government
- Hyundai Nigeria, the makers of the new CNG vehicles, also disclosed auto finance options for customers
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
The CNG Initiative (Pi-CNG) of President Bola Tinubu has recorded another milestone as Hyundai Nigeria has rolled out CNG vehicles for various categories of automobiles nationwide.
The locally assembled models include the Hyundai Grand i10, Hyundai Accent, Hyundai Creta and Hyundai Tucson.
Source: Getty Images
Hyundai releases various car owners
The company described its latest achievement as supporting the Nigerian government’s efforts to flood the country with sustainable, cost-effective, and environmentally friendly transport solutions.
The Sun reported that Gaurav Vashisht, the company’s head of sales and marketing, said the locally assembled vehicles target most vehicle buyers, including retail customers or status vehicle owners from different corporate entities.
He stated the CNG Grand i10 is targeted at fleet owners and first-time buyers, all of which focus on vehicle reliability and low-cost ownership.
He disclosed that the company’s customers can acquire tropicalised and affordable vehicles with factory-fitted parts instead of converting unsafe imported used cars.
Also, the firm’s Grand i10, Accent, Creta, and Tucson come with factory-fitted CNG kits, including bulletproof CNG cylinders.
Hyundai provides an auto finance plan
Vashisht said it aims to accommodate all Nigerian auto buyers. The company has also provided auto finance options for buyers who need help to make a one-time payment for CNG vehicles.
The Nigerian government introduced the Presidential CNG Initiative (Pi-CNG) in 2023 to encourage car firms to produce factory-fitted CNG vehicles.
Legit.ng previously reported that the government followed up the initiative by providing free CNG conversion kits for vehicle owners.
Also, the government announced free CNG conversion centres nationwide for commercial and private vehicle owners.
President Tinubu unveiled plans to sell CNG at N230 per litre to push the policy further.
Nigerian Vehicle maker delivers CNG vehicles to FG
Legit.ng earlier reported that on Wednesday, August 8, 2024, the Nigerian government received over 60 hybrid Jet Mover buses from Jet Motor Company, another Indigenous manufacturing firm.
The buses, which run on Compressed Natural Gas (CNG) and petrol, were delivered to a team of government officials from the Ministry of Finance and representatives of the Presidential Initiative for Compressed Natural Gas (Pi-CNG) at a ceremony at the company’s plant in Lagos.
Jet Motors was one of the vendors selected for CNG bus delivery under the Pi-CNG initiative.
Proofread by Kola Muhammed, journalist and copyeditor at Legit.ng
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