Innoson launches their first made in Nigeria car called IVM

Posted by Chidinma on Monday January 19, 2015 at 16:54:19:

Over 85% of commodities we use in Nigeria are imported from other countries including food products. The launch by Innoson Vehicle Manufacturing Company (IVM) late last year of a locally made car was a much welcomed innovation and development in the country. The IVM company is the first company to produce indigenous made vehicles in the country; and the surprising aspect of it is that over 70% of the contents used in the car manufacturing are locally mad; lets take a look at some of the benefits or value the IVM has brought to Nigerians and Nigeria as a country.

Benefits of making cars in Nigeria:

1. It will help Boost Nigeria’s Economy: with the fall in crude oil price and the devaluation of the naira, indigenous investments are what the country needs to help stabilize the economy; also since over 70% of the contents are manufactured locally at Nnewi, it saves the government over 10% of the six million dollars spent annually for the importation of car spare parts.

2. Provides Employment: anybody who stays in Nigeria knows that there is a very high rate of unemployment in the country, and the IVM plant in Nnewi is said to have gainfully employed over 1,600 people, which is a good dent to the unemployment issue in Nigeria.

3. Affordable Cars For Nigerians: the IVM made in Nigeria motors are as strong and durable as any other car you can get from any other country, and the best part of this, is that the IVM are also cheaper than imported cars, since they are locally made and there is no need to pay exorbitant pries to ship them into Nigeria.