Updated: VON backs Tinubu’s India investment mission, hails Nigeria-Hinduja auto agreement

Updated: VON backs Tinubu’s India investment mission, hails Nigeria-Hinduja auto agreement

VON Automobile Nigeria, a subsidiary of Stallion Group and maker of Ashok Leyland buses, has expressed its support for President Bola Ahmed Tinubu’s ongoing investment initiative in India.

The initiative coincides with the 2023 G20 Summit taking place on September 9th and 10th in India.

Managing Director of the company, Dr. Harpreet Singh, made this known via a statement obtained on Wednesday.

President Tinubu’s meeting with Mr. Gopichand Hinduja, Chairman and CEO of the Hinduja Group of Companies, a conglomerate with a total asset portfolio exceeding $100bn, led to the signing of a Memorandum of Understanding (MoU) for further investment in Nigeria’s automobile industry.

Hinduja was said to have pledged a multi-billion dollar investment and expressed his commitment to bus and automobile manufacturing in Nigeria.

Singh welcomed the news, expressing confidence that President Tinubu’s administration would prioritise the nation’s automobile industry.

He highlighted the prospects of such investment to the Nigeria’s automotive industry.

He therefore commended President Tinubu for the investment initiative.

Singh said, “VON Automobile, as a pioneer and leading automobile assembler since 2013, remains dedicated to supporting the government’s push for a clean and eco-friendly environment with mass transit buses running on clean and affordable energy sources.

“The company is currently modifying its locally assembled mass transit buses to run on compressed natural gas (CNG) and electric power.

According to the statement, the locally assembled Ashok Leyland buses, including the Falcon and Hawk models, have been available in Nigeria since 2014.

It stated that these buses, designed specifically for the Nigerian environment, offer durability, power, safety, and a longer lifespan.

Singh stressed that the CNG and electric-powered Falcon and Hawk buses would help reduce running costs for Nigerians, particularly in the light of recent fuel subsidy removal measures.

“VON Automobile’s state-of-the-art service centres and certified technical specialists are also ready to provide world-class after-sale support to extend the lifespan of the buses.

“VON Automobile’s assembly plant, located along Lagos – Badagry Expressway in Lagos, Nigeria, not only produces buses, but also cars, pickups, trucks, and other vehicles that serve as viable alternatives to imported fully built-up new and used vehicles,” the statement added.