Nigeria Auto Industry Soars as VON Automobile Backs $14 Billion India Partnership

Nigeria Auto Industry Soars as VON Automobile Backs $14 Billion India Partnership

VON Automobile Applauds Nigeria-India Investment Partnership

VON Automobile Nigeria, a subsidiary of the Stallion Group, has thrown its weight behind President Bola Ahmed Tinubu’s recent investment endeavors in India. The company’s Managing Director, Harpreet Singh, praised President Tinubu’s proactive approach and highlighted the promising prospects for Nigeria’s automotive industry arising from his visit to India.

Nigeria has garnered investment commitments totaling a whopping $14 billion from Indian investors, and the nation is actively pursuing an economic cooperation agreement with India.

VON Automobile disclosed that President Tinubu’s meeting with Gopichand Hinduja, the Chairman and CEO of the Hinduja Group of Companies—a conglomerate boasting assets exceeding $100 billion—led to the signing of a Memorandum of Understanding (MoU) to further invest in Nigeria’s automobile sector.

Harpreet Singh shared, “Hinduja pledged a multi-billion dollar investment and expressed his commitment to bus and automobile manufacturing in Nigeria.”

The Managing Director expressed confidence in President Tinubu’s administration prioritizing the development of Nigeria’s automobile industry.

Singh added, “VON Automobile, a pioneer and leading automobile assembler since 2013, remains dedicated to supporting the government’s efforts towards a clean and eco-friendly environment by manufacturing mass transit buses powered by clean and affordable energy sources.”

The company is actively working on modifying its locally assembled mass transit buses to operate on compressed natural gas (CNG) and electric power. Notably, VON’s locally assembled Ashok Leyland buses, including models like the Falcon and Hawk, have been available in Nigeria since 2014. These buses, tailored for Nigerian conditions, are known for their durability, power, safety features, and extended lifespan.

Furthermore, the introduction of CNG and electric-powered Falcon and Hawk buses is expected to reduce operational costs for Nigerians, particularly in light of recent fuel subsidy removal measures.

VON Automobile’s endorsement of President Tinubu’s efforts underscores the potential for growth and innovation in Nigeria’s automotive sector, offering the prospect of cleaner and more sustainable transportation solutions for the nation.

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