Nissan and Stallion Group to Start Auto Assembly in Nigeria

AsiaNet 54578

LAGOS, Nigeria, October 9/PRN=KYODO JBN/ --

    - The Renault-Nissan Alliance and Stallion Group sign Memorandum of

      Understanding for vehicle assembly in Lagos

    - Nissan to become the first major global auto manufacturer to assemble

      vehicles in Nigeria following legislation change

    - Potential to develop plant into a major manufacturing hub for Nissan in

      Africa

    Today Nissan and West African conglomerate Stallion Group announced their

intention to jointly launch vehicle assembly in Nigeria.

    The announcement is in expectation of final approval by the Federal

Government of the new Automobile Industrial Policy, designed to encourage

development of the auto industry in Nigeria, and would see Nissan become the

first major international manufacturer to launch vehicle assembly in the

country following the new legislation.

    The parties have signed a Memorandum of Understanding which will result in

Stallion - already Nissan's exclusive distributor in Nigeria - increasing

capacity at its existing plant, VON Automobile Ltd in Lagos.

    Stallion currently produces commercial vehicles at the facility. The

plant's annual capacity will be expanded to 45,000 units to assemble a range of

cars, light duty trucks, pickups and vans. Full details of the product lineup

will be confirmed at a later date, however it is anticipated the first product

to be introduced will be the iconic Nissan Patrol SUV in spring 2014.

    Capacity at the plant will also be opened to Nissan's Alliance partner

Renault, to be utilized according to future business needs.

    Nissan President and CEO, Carlos Ghosn, said: "We welcome the proactive

measures being taken by the Government of Nigeria to encourage inward

investment and job creation driven by local auto manufacturing. Together with

our local partner, Nissan is preparing to make Nigeria a significant

manufacturing hub in Africa. As the first-mover in Nigeria, we are positioned

for the long-term growth of this market and across the broader continent."

    For the full press release, go to:

http://www.media.blog.alliance-renault-nissan.com/news/4524

    CONTACTS:

    David Swerdlow Manager AMI Communications

    Tel: +44-7747-118-341

    Email: David.Swerdlow@Nissan-nmuk.co.uk

    Dudu Mwelase: GM Corporate Communications, Africa

    Tel: +27(0)12-529-8879

    Email: Dudum@nissan.co.za

    SOURCE: Renault-Nissan Alliance