Nissan has made a major investment in Lagos, Nigeria, setting up a new production facility following the new Nigeria Automotive Policy, which is aimed at stimulating growth in the nation’s auto industry. A Nissan Patrol was the inaugural vehicle, rolling off the production line on May 7th.
According to a recent hindustantimes.com article, the new production facility marks another major milestone in Nissan’s plan to expand into high-growth markets. As a part of their plan to achieve eight percent profitability by 2016, the automaker has already opened plants in Mexico and Brazil and additional plants are currently underway in Indonesia, Thailand and China. Nissan has also announced plan to build in Myanmar, the first automaker to do so since their economy opened up last summer.
Takashi Hata, Nissan senior VP and chairman for the Africa, Middle East and India region, told Autocar UK: “For Nissan, Africa is our strategic growth driver. Demand for cars is growing quickly in African markets as demonstrated by the first model being produced a mere seven months after the announcement of the new Automotive Policy. By acting quickly to begin production in Nigeria we are securing for ourselves first-mover advantage.”
Nissan is proud and excited to be a major player in the economic growth of Nigeria and Africa, where the finance, retail, communications, and film industries are booming. The automaker expects to double their sales on the continent of Africa by 2016, and Nigeria will be a major player in meeting that goal.