Africa's richest person Dangote Joins Peugeot, Starts Vehicle Assembly Company, Firm Begins Operations -

Africa’s richest person Dangote Joins Peugeot, Starts Vehicle Assembly Company, Firm Begins Operations

Billionaire Aliko Dangote has teamed up with Peugeot, which is owned by Stellantis Group, and the governments of Kano and Kaduna to launch the assembly of vehicles in Nigeria. This new venture puts them in competition with Innoson Motors, a leading local manufacturer and assembler.

The vehicles will be assembled at the state-of-the-art Greenfield Ultima Assembly plant in the northwest of the country, with a capacity to produce nearly 120 vehicles daily across all operations. The manufacturing director of the plant, Ibrahim Issa Gachi, stated that the newly assembled vehicles will be equipped with cutting-edge technology and safety features to ensure the safety of users.

Gachi added that the company has also made sure that the spare parts for the vehicles are locally sourced. To boost sales, Peugeot is also reaching out to its dealers throughout the country to establish a strong presence in the market and maintain a reliable reputation.

The venture began in 2016 when the Kaduna State government, Dangote Group, and the Bank of Industry acquired a majority stake in Kaduna-based Peugeot Automobiles. In 2017, Dangote acquired the license to establish a Peugeot plant in Nigeria.

Innoson Motors, a Nigerian-based carmaker, has expressed support for the decision of Anambra State governor-elect, Chukwuma Soludo, to only use locally made vehicles, specifically from Innoson Motors, as his official vehicles during his term. Innoson Motors Chairman, Innocent Chukwuma, expressed his excitement at the news and looks forward to welcoming Soludo to the manufacturing plant.

Overall, the new assembly plant is set to bring jobs and economic growth to the region and contribute to the growth of the automotive industry in Nigeria.