Not CNG: Innoson CEO Opens Up on Creating Another Special Vehicle as Fuel Price Increases
- Innoson CEO said that more Nigerians are buying electric cars because petrol prices are so high
- He stated in an interview that the growing interest has motivated him to produce electric automobiles locally
- He claimed that the current status of the economy affects every person in the country
Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.
Many Nigerians are purchasing electric vehicles as a result of the high cost of fuel, Innoson Motors CEO and managing director Innocent Chukwuma has said.
Source: Getty Images
In a Friday interview with Channels Television, Chukwuma added that the increasing interest has inspired him to create electric vehicles locally.
“People have so much interest in electric vehicles because of the high cost of fuel. Some people are buying it immediately. That’s why I am able to develop it,” Chukwuma said.
PAY ATTENTION: Legit.ng Needs Your Help! Take our Survey Now and See Improvements at LEGIT.NG Tomorrow
“I produce the carcass and if people need electric vehicles, what I need is to bring electrical components and put on it.
“If you need an engine, we will put an engine on it. If you need CNG, we will put CNG engine for you.”
Chukwuma commented on the rising cost of gasoline and stated that everyone in the nation is being impacted by the current state of the economy, including business activities.
“The petrol price hike is affecting business generally. The foreign exchange is going up, everything is going up and it’s affecting everything,” he said.
“Everything has changed. It’s not affecting only the industry, it’s affecting everybody.”
Nigeria can produce vehicles
Nigeria can build vehicles from the ground up, according to the businessman.
According to him, poor sales are impeding the localisation of some automotive components, such as automobile engines, even though the nation's automotive industry is capable of producing cars from start to finish.
“We have the capacity to do a car from beginning to end but because of some items, the producers in Nigeria cannot make good sales. They cannot be here producing it,” Chukwuma said.
He revealed that after the company hits the 10,000 vehicle yearly sales objective, Innoson Motors intends to localise the production of automobile engines and other parts.
Chukwuma stated that reaching this goal will open the door for the establishment of an engine factory in Nigeria.
“If I can sell 10,000 motors in one year, I will localise the engine because localising the engine is my agreement with the overseas when I started. We plan to localise, but we must reach up to 10,000 vehicles in one year,” he said.
Nigerians compare local vehicle manufacturing companies
Legit.ng reported that Nord Motion, a Nigerian automobile company recently unveiled its new Nord A3 and the Nord A9 vehicle.
The new designs which were launched on October 3rd have since seen massive reaction from Nigerians who are awestrucked by its features.
The Nord A9, regarded as the first mid-sized SUV is designed to set a new benchmark for modern SUVs.
PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find the “Recommended for you” block on the home page and enjoy!
Source: Legit.ng
