Innoson Builds Multibillion naira Factory to Produce CNG-powered Cars, Buses, Others

Innoson Builds Multibillion naira Factory to Produce CNG-powered Cars, Buses, Others

  • Innoson Vehicles Manufacturing Company is set to produce vehicles using CNG-powered engines
  • This comes after President Tinubu ordered the federal government ministers, departments and agencies to purchase CNG-powered vehicles
  • A request was earlier made to IVM by a group of farmers under the leadership of Ebere Orji Odi to consider manufacturing tractors

Innoson Vehicles Manufacturing Company Ltd (IVM), Nnewi, has built a new multibillion-naira factory to begin producing heavy-duty vehicles and various buses using Compressed Natural Gas-powered engines.

Innoson builds multibillion-naira factory
The new CNG vehicle facility has reached 90% completion and will be commissioned very soon. Photo Credit: Maskot
Source: UGC

According to the corporation, the car plant can produce up to 30,000 vehicles annually.

The move comes after President Bola Tinubu's recent directive to the federal government ministers, departments and agencies to start purchasing compressed natural gas power vehicles.

New facility almost completed

According to a statement made over the weekend by Dr Innocent Chukwuma, chairman of Innoson Group, the new CNG vehicle facility has reached 90% completion and will be commissioned very soon.

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Independent.ng reported that the announcement of a new Innoson auto plant in Nnewi, which will exclusively produce CNG vehicles, comes at a time when Nigerians are still in disbelief over the news that Innoson was passed over for contracts to manufacture thousands of fuel-subsidy palliative buses by the Presidential Committee on the CNG Initiative.

This development also comes in response to a request made to IVM by a group of farmers under the leadership of Ebere Orji Odi to consider manufacturing tractors and associated tools to improve mechanised farming and stimulate the economy.

The company said:

“As a result of the wide acceptance of CNG vehicles Innoson has been manufacturing since 2022, the company last year embarked on the construction of a new multi-billion naira plant dedicated to the production of only automobiles that run on CNG.

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“The new factory, which has the capacity to produce 30,000 units of CNG vehicles annually in one shift, has almost been completed and will be commissioned soon.”

Need to improve mechanised farming

Chukwuma also mentioned that the company plans to build a plant to manufacture tractors and other farm equipment in collaboration with the University of Nigeria, Nsukka (UNN).

The project manager, Innoson Vehicles, clarified that the project is currently experiencing a slowdown as a result of the recognised institution's administration changing hands.

Nonetheless, it guaranteed that under the Lion brand, the facility will soon begin to produce tractors and farm tools that improve mechanised agriculture.

He said:

“This Lion project in the UNN is in line with IVM’s avowed commitment from inception to gradually satisfying the varied vehicular needs of the Nigerian market and the continent of Africa.
“Though Chief Chukwuma’s vision of top quality mobility for the people first manifested with the production of Nigeria’s first indigenous (Innoson) brand of motorcycles in the 90s, this commitment was formally enunciated on October 15, 2010, when the then President Goodluck Jonathan commissioned the plant in Nnewi.”

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Iniform Asifa, said that as long as the project is geared towards improving lives, it is a good one for Nigerians.

"Whatever the government is doing to improve living standards is a welcome decision. If the CNG-powered vehicle will indeed trigger the cost of transportation and reduce the cost of living, then, I think that is what we really need in this country.

Innoson Motors rolls out gas-powered vehicles

Legit.ng reported that Nigeria’s local automobile manufacturing firm, Innoson Motors, has announced its latest innovation, the Innoson LNG/CNG Gas Trucks, buses, and cars, at its factory in Nnewi, Anambra State.

The liquified natural gas (LNG) and compressed natural gas (CNG) enabled vehicles were launched on Tuesday, April 20, 2023, by the president of the Manufacturers Association of Nigeria (MAN), Otunba Francis Meshioye.

Innoson Motors’ head of corporate communications, Cornel Osigwe, said the unique feature of the Innoson gas-powered brands is their ability to use CNG, which is more affordable than diesel or petrol.

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Proofreading by James Ojo Adakole, journalist and copy editor at Legit.ng.

Source: Legit.ng

Authors:
Zainab Iwayemi avatar

Zainab Iwayemi (Business Editor) Zainab Iwayemi is a business journalist with over 5 years experience reporting activities in the stock market, tech, insurance, banking, and oil and gas sectors. She holds a Bachelor of Science (B.sc) degree in Sociology from the University of Ilorin, Kwara State. Before Legit.ng, she worked as a financial analyst at Nairametrics where she was rewarded for outstanding performance. She can be reached via zainab.iwayemi@corp.legit.ng

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