NADDC lauds over $1bn investment in automotive industry


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As Stallion Group unveils Hyundai Kona Electric Car

By Gabriel Ewepu – Abuja

National Automotive Design and Development Council, NADDC, Friday, lauded over $1 billion investment in the automotive industry.

This was made known by the Director-General, NADDC, Jelani Aliyu, Abuja at the unveiling of Hyundai Kona Electric Car, Nigeria’s first locally assembled electric car in Abuja.

According to Aliyu the investment is from both local and foreign investors in the nation’s automotive industry.

He maintained that it was as a result of the resolve of the Buhari-led administration’s effort to create an enabling environment for investors that brought about the huge investments in the production of vehicles in Nigeria.

He said: “As of 2019 over $1 billion have been invested in the industry with over 400,000 installed capacity by credible local and international investors such as the Stallion Group which alone has invested close to $300 million.

“Nigerians can only live a…

Source: Vanguard Newspaper