Tata Motors invest 8 million in NigeriaStaff writer ▼ | July 11, 2015
Tata Motors has invested more than $8 million as part of its preparations to roll out its first batch of Nigerian assembled cars and the subsequent exportation of automobiles to other parts of Africa.
Auto industry The first batch of Tata Nigerian assembled cars
According to Kshitij the target of the company is not just to start assembling of automobiles in Nigeria but also to establish a sub-regional centre here where vehicles will be manufactured for exportation.
He said already the company has employed over 240 Nigerians many of whom are currently undergoing training in India. Adding that they have already installed a factory, which is sited on a large expanse of land measuring about 130 hectares at Ijebu Ode.
In his speech, NAC DG, Aminu Jalal disclosed that the coming of TATA and other foreign Auto companies is an expression of the confidence of global investors in the potentials of Nigeria’s auto industry.
However, he lamented that the demand of whole sale vehicle import in trillions of naira annually is not sustainable; adding that automotive demand in foreign exchange is the second largest on Nigeria’s reserves and that there is an urgent need to reduce it. ■