Ford Opens N5bn Vehicle Assembly Plant in Lagos
Foremost auto dealer, Coscharis Motors, a subsidiary of Coscharis Group and distributors of Ford automobiles, has unveiled a vehicle assembly plant in Lagos worth N5bn for the production of the brand.
The President of the Coscharis Group, Mr. Cosmas Maduka, said that the facility was the second Ford plant in Africa, after South Africa and the first ever in Nigeria and the entire Sub-Sahara Africa.
According to him, “It has been a long wait from when we first announced in November 2015 that we had commenced physical structuring of the new plant sighted on a piece of land of more than 14 hectares within our Lekki Group head office in Lagos.
“Coscharis Group has been a great believer in the possibilities that lie ahead in this our great nation and we have shown courage by the actions that we are taking in investing in the future of Nigeria.”
He added that the initiative would further create value, in response to the call of the Federal Government through the National Automotive Industry Development Plan, NAIDP.
According to him, NAIDP aims, among other objectives, to discourage the importation of completely built vehicles and encourage the local manufacturing of vehicles through either Complete Knocked Down or Semi Knocked Down facilities for a start.
He added, “This is also to appreciate the confidence that the globally respected iconic brand, Ford, reposes in us as its exclusive official representative in Nigeria to roll out the very first Ford assembly plant in Nigeria.
“This is a capital intensive project, which also involves huge financial, technical and human resources commitment. Therefore, the fact that we have ventured into it headlong underpins the level of confidence and hope we have for the future of the Nigerian automotive industry.”
He maintained that the plant will roll out the Ford Ranger, a multi-purpose mini-truck that serves well for both work and leisure for a start.