The Edo State Government, through the Edo State Investment Promotion Office (ESIPO), is embarking on a transformative collaboration with Foton Motor Group, an esteemed international player in the vehicle manufacturing industry. The primary objective of this partnership is to set up a state-of-the-art vehicle manufacturing and assembly plant within the state’s boundaries.
The initiative aims to foster economic development, create employment opportunities, and enhance accessibility to affordable vehicles and spare parts in Nigeria and Africa.
Mr. Kelvin Uwaibi, the Managing Director of Edo State’s Investment Promotion Office (ESIPO), enthusiastically highlighted the far-reaching benefits of this partnership. He emphasized that the collaboration would not only lead to the establishment of an automobile assembly factory in Edo State but also result in significant support from Foton Motor Group to address automotive-related challenges in Nigeria and Africa.
Mr. Uwaibi expressed, “Foton Motor Group has had prior business interactions with Nigeria; however, they are taking a groundbreaking step by commencing local manufacturing operations in Nigeria, beginning with the establishment of an automobile assembly factory in Edo State. Edo State is committed to providing the necessary assistance to ensure the successful setup of the factory, and in return, Foton Motor Group will utilize strategies and investments to mitigate automotive issues in Nigeria and the broader African region.”
The impact of this investment on Edo State is expected to be multifaceted. It will foster capacity building, skill development, and training for the state’s youth, equipping them with the expertise needed to thrive in the automotive sector. Moreover, the partnership will contribute to making vehicles and spare parts more cost-effective and accessible to the residents of Edo and all Nigerians.
Mr. Jimmy Liuo, the Project Manager of Foton Motor Group, shared his perspective on the venture. He underlined the long-term nature of the investment, its potential to contribute to Nigeria’s economic growth, and the mission to make vehicles more affordable in the country. Foton Motor Group intends to introduce a range of top brands from China, including Micro, Light, and Heavy-duty trucks, as well as CNG vehicles. These efforts are aimed at reducing the overall cost of vehicles in Nigeria, making them more attainable to a broader segment of the population.
Mr. Liuo stated, “The vehicle assembling company in Edo is going to be a long-term investment and will contribute to economic development in Nigeria. We are in Edo State because of its business-friendly environment. We will bring top brands from China like Micro, Light, and Heavy-duty trucks and CNG to Nigeria to reduce the cost of vehicles in Nigeria.”
The partnership between the Edo State Government and Foton Motor Group reflects a significant stride toward enhancing economic development, generating job opportunities, and addressing automotive challenges in Nigeria and Africa. This collaboration is poised to have a positive impact on the affordability and accessibility of vehicles, benefitting the residents of Edo State and beyond.