VENTURES AFRICA – Two Indian automobile manufacturers, TATA - TopicsExpress

VENTURES AFRICA – Two Indian automobile manufacturers, TATA Motors and TVS Motor are set to establish automotive plants in Nigeria, following separate meetings with the country’s National Automotive Council (NAC).The automobile companies visited the council with the intention of obtaining information on all the needed technical details, administrative requirements and guidelines in setting up of vehicle industrial plants, NAC Principal Executive Officer (Information), Bello Rasheed said.While TATA Motors is credited to be the world’s fifth largest truck manufacturer and India’s largest automobile maker with products ranging from cars, buses, utility vehicles, SUVs, trucks, armoured vehicles and military vehicle, TVS Motor on the other hand is a leading motorcyle, two-wheeler and three-wheeler manufacturer.Both companies acknowledged that they were encouraged to invest in Nigeria because of the country’s recently approved National Automotive Industry Development Plan( NAIDP), he added.Nigeria’s National Automobile Industry Development Plan is targeted at discouraging vehicle importation and encouraging investment from auto manufacturers.Although some have argued against the implementation of the automotive policy, the government says it will encourage auto manufacturers to produce less expensive vehicle models in the country. This will in turn generate job opportunities, contribute significantly to the GDP, meet the annual demand for vehicles, and strenghten Nigeria’s position in the global automotive industry.Other major manufacturers like Nissan, Hyundai, Kia, and Geely have also shown interest in establishing plants in Nigeria. According to reports, Japanese automaker, Toyota is already in talks to invest in the country

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