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Thu, Sep 7, 2023 4:35 PM

VON Automobile Nigeria Supports President Tinubu's Investment Initiative in India

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VON Automobile Nigeria Supports President Tinubu's Investment Initiative in India
VON Automobile Nigeria, a subsidiary of Stallion Group, has expressed its support for President Tinubu's investment initiative in India. The company's managing director commended Tinubu's efforts and highlighted the prospective investment in Nigeria's automotive industry resulting from his visit to India. The initiative coincides with the 2023 G20 Summit. VON Automobile is dedicated to supporting the government's push for a clean and eco-friendly environment with mass transit buses running on clean and affordable energy sources.

Lagos - VON Automobile Nigeria, a subsidiary of Stallion Group and maker of Ashok Leyland buses, has expressed its support for President Bola Ahmed Tinubu's ongoing investment initiative in India. The initiative coincides with the 2023 G20 Summit taking place on September 9th and 10th.

Dr. Harpreet Singh, the company's Managing Director, commended Tinubu's efforts and highlighted the prospective investment in Nigeria's automotive industry that resulted from his visit to India.

Tinubu's meeting with Mr. Gopichand Hinduja, Chairman of the Hinduja Group of Companies, a conglomerate with a total asset portfolio exceeding $100 billion, led to the signing of a Memorandum of Understanding (MoU) for further investment in Nigeria's automobile industry.

Hinduja pledged a multi-billion-dollar investment and expressed his commitment to bus and automobile manufacturing in Nigeria.

Singh welcomed the news, expressing confidence that Tinubu's administration would prioritize the nation's automobile industry.

He stated that VON Automobile, as a pioneer and leading automobile assembler since 2013, remains dedicated to supporting the government's push for a clean and eco-friendly environment with mass transit buses running on clean and affordable energy sources.

The company is currently modifying its locally assembled mass transit buses to run on compressed natural gas (CNG) and electric power.

The locally assembled Ashok Leyland buses, including the Falcon and Hawk models, have been available in Nigeria since 2014.

These buses, designed specifically for the Nigerian environment, offer durability, power, safety, and a longer lifespan.

This investment initiative between Nigeria and India is seen as a significant step towards strengthening bilateral ties and fueling economic growth.

The automotive industry plays a vital role in Nigeria's economy, providing employment opportunities and contributing to the country's GDP.

With VON Automobile's commitment to producing buses running on clean and affordable energy sources, it aligns with Nigeria's efforts to transition towards a sustainable future.

The modification of the locally assembled mass transit buses to run on compressed natural gas and electric power will contribute to reducing pollution and promoting a green transportation system.

Furthermore, VON Automobile's collaboration with the Hinduja Group of Companies will pave the way for advanced manufacturing technologies and international expertise to be transferred to Nigeria.

President Tinubu's investment initiative in India demonstrates his commitment to attracting foreign direct investment and fostering partnerships that drive economic development.

As the G20 Summit approaches, Nigeria's position as an investment destination is further solidified, showcasing the country's potential and opportunities.

The multi-billion-dollar investment in Nigeria's automobile industry will not only boost manufacturing capabilities but also create job opportunities and enhance technological capabilities.

VON Automobile Nigeria, under the leadership of Dr. Harpreet Singh, is poised to play a significant role in the transformation of Nigeria's automotive industry by investing in innovative solutions and sustainable manufacturing practices.

The company's dedication to producing clean and eco-friendly mass transit buses reinforces its commitment to addressing environmental challenges and promoting the use of renewable energy sources.

With the ongoing investment initiative and the support of key stakeholders, Nigeria's automobile industry is set to experience exponential growth and contribute substantially to the country's economic development.

Source of content: OOO News 2023-09-07 News

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