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Globe Motors rolls out vehicles from $150m assembly plant next month

By Theodore Opara

LAGOS—Globe Motors, a leading auto mobile dealer in the country is set to boost Federal Government’s automotive policy from July when it rolls out first set of vehicles from its $150 million assembly plant in Lagos next month.

Chairman of Globe Motors Holdings, Mr. William Anumudu, who disclosed this in Lagos, yesterday, said the company was putting finishing touches to its assembly plant located at Lekki area, adding that the plant had a capacity for 40,000 cars on completion and would generate employment for 3,500 Nigerians.

However, the plant will produce about 6,000 vehicles annually for a start, including passenger cars, pick-ups, high capacity buses and trucks. Anumudu added that another 10,000 jobs would be created indirectly as a result of the multiplier effect of the plant.

According to him, the company will start with the production of Semi Knockdown parts, SKD, and later graduate to complete knock down parts, CKD, for Hyundai, Higer and Globe Motors brands.

He further explained that the company would be assembling three brands of automobiles, including Hyundai (Korea),   Higer (China) and its own brand, adding that the company had signed agreements with the Original Equipment Manufacturers, OEM, of these brands to produce the vehicles to global standards.

Commending the government for coming up with a policy for the auto industry, Mr. Anumudu said: “We have made a lot of progress in the new plant. We keyed into the government auto policy, though we were hesitant at the beginning, but we have realized it is the way to the nation’s economic development.”


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