Nigerians are set to reap the dividend of the federal government’s new auto policy as the first electric cars assembled in Nigeria will debut by 2016.
The Electric cars will be assembled by BYD Auto Industry in conjunction with R.T Briscoe (Nigeria).
Receiving a four-man delegation of BYD Auto Industry and R.T Briscoe in his office in Abuja, the Minister of Industries, Trade and Investment, Olusegun Aganga noted that with the assembly of ‘Green Auto’, Nigerians will no longer have to always rely on petrol.
While promising that government will continue to “create the enabling environment for investment to thrive’, the minister said thousands of jobs would be created with the latest addition to automobile industries that have indicated interests in the country’s auto sector.
With over N6 billion spent yearly on the irritation of cars and spare parts, Aganga noted that the entry of BYD into the Nigerian auto market will further save Nigeria the much needed foreign exchange, which has dwindled as a result of falling global oil price.
“But if we don’t have this policy in place, we will be relying on importing everything 100 per cent. Our aim is to be balance of payment positive. Today, we spend more than N6 billion importing cars and spare parts and it will increase if we don’t do anything about it to the extent that most Nigerians will not be able to afford it.”
Speaking earlier, Manager, Middle East and Africa, BYD Auto Industry, Ivan Cao, said BYD is willing to invest in Nigeria having seen the huge potential of its auto industry.
Cao said with the information at the disposal of its technical team, it would start with the assembling of Sedan cars, adding that “it will take around 6-9 months” before the company starts rolling out its products.
The BYD Chief said the company would be using loca third-party supplies in its value chain as it implements it Nigeria’s local content policy.
Regarded as one of the leading manufacturer electricity cars in world, BYD sold over 30,000 units of electric vehicles in China in 2015.
In a related development, an additional 11 companies have been granted licenses to assemble vehicles under the National Automotive Industry Development Policy (NAIDP).
The new entrants into Nigeria’s auto assembly are: General Appliances West Africa Ltd, Honda Manufacturing Nigeria Limited, Perfection Motors Co. Limited, R.T Briscoe Nigeria Limited, Richbon Nigeria Limited.
Others are: Nigeria-China Manufacturing Company Limited, Nigeria Sino Trucks Ltd, Coscharis Motors Limited, DAG Motorcycle Ind. Nigeria Ltd, Globe Motors Nigeria Limited and Toyota (Nigeria) Ltd/Century Auto-Assembly Nig. Ltd.