Aliko Dangote has entered a joint venture with PSA Peugeot Citroen, along with five northern state governments to re-start assembling of cars in Kaduna plant by the first quarter of 2019. An aide to Kaduna State Governor, Jimi Lawal, told Reuters that the joint venture, Peugeot Automobile Nigeria (PAN) Ltd, is expected to assemble 3,500 units in its first year.

Aliko Dangote Lawal said that Dangote will hold a majority stake in the joint venture, while Peugeot Citroen will own a 10 percent stake and also operate the plant. The states, according to Lawal, which include Jigawa, Kebbi, Katsina and Kano would provide off-take for cars to be built at the Kaduna plant.

A reliable source from Dangote Group, who did not want to be named because he’s not authorised to speak on the matter, confirmed the development to Vanguard when contacted on phone. Lawal said PAN would start with N3.5 billion ($10 million) of equity and working capital of about $5 million, adding that the company would later raise additional capital.

He further noted that Dangote and the state governors have visited France to sign agreements, adding that Peugeot would assemble three brands in Nigeria and target West African markets for export. “The first vehicle should come out by the first quarter of next year. We are hoping that the factory will be completed by December.

The land has been identified, we have advertised for a contractor that will build the factory,” Lawal said. Recall that Dangote, in alliance with two states and the Bank of Industry (BOI), made a bid to acquire a majority stake in PAN after Assets Management Corporation of Nigeria (AMCON) sought to sell some of the assets it bought in the wake of the banking crisis in 2009.


http://www.vondanews.com/dangote-peugeot-in-joint-venture-to-re-start-vehicle-assembly-in-2019

FTC, on a very Wednesday morning

A

Wonder what happened to partnering with IVM?
Peugeot is aiit but how many can afford brand new Peugeot cars even if its assembled here? Such investments can be channeled towards our local substitute here
How do we think the whites or Asians did if? They looked inwards and developed. Sure they made loads of mistakes along the way, that's normal. In the end, we go gaga for their cars
Let's make JVM our own. And in a dacade. We too will be exporting Africa and beyond.

[quote author=HenryWilliams post=68218577]Wonder what happened to partnering with IVM?

IVM too should partner with the south east state govt and some billionaire in the south east.
If you dont collectively develop yourself, nobody will help you.
Moreover, IVM is also an assembly plant and not a manufacturing plant.
We need Ajaokuta to function well before we can achieve a manufacturing status.

HenryWilliams:
Wonder what happened to partnering with IVM?
Peugeot is aiit but how many can afford brand new Peugeot cars even if its assembled here? Such investments can be channeled towards our local substitute here
How do we think the whites or Asians did if? They looked inwards and developed. Sure they made loads of mistakes along the way, that's normal. In the end, we go gaga for their cars
Let's make JVM our own. And in a dacade. We too will be exporting Africa and beyond.

IVM partnering with Chinese to bring in unknown brand as CKD, meaning IVM would have more work cut out for them selling these unknown product to buyers

Dangote on the other hand is bringing in intentionally known brand which was functioning in the 90s in nigeria already, less work to sell to consumers as peugeot is already known.

You Won't Believe The Celebrity Whose just got into the latest s3x.tape scandal

Dangote is becoming a scam.

All his projects are TO START:

Since 2012 Dangote Refinery TO start.

Dangote this to start

Dangote that to start!

good

Good news.
Great development.
More jobs openings.

That’s the growth that comes with doing business. I will achieve this spread

There were multiple vehicle assembly plants that were established by the government in the 1960s, '70s and '80s. These include:

1) Peugeot Automobile Nigeria (PAN). This was a joint venture between the Federal Government, Kaduna State Government and Peugeot.

2) Volkswagen Of Nigeria (VON). This was a joint venture between the Federal Government, Lagos State Government and Volkswagen.

3) Mercedes Benz-ANAMMCO. This was a joint venture between the Federal Government, Anambra State Government and Daimler Benz.

4) Leyland Motor Company. This was a joint venture between the Federal Government, Oyo State Government and British Leyland.

5) National Truck Manufacturing Company Limited. This was a joint venture between the Federal Government, Kano State Government and Fiat.

6) Steyr Nigeria. This was a joint venture between the Federal Government, Bauchi State Government and Steyr.


The Federal Government sold its shares in these companies as part of Obasanjo's privatisation programme.

The company that bought PAN were unable to run it profitably and AMCON took over the company. The Kaduna State Government has been looking for a private investor to take over AMCON's shares in the company. Governor El-Rufai made a pitch to Aliko Dangote and it appears that Dangote was convinced.

Stallion Motors bought the VON plant in Lagos and the Leyland plant in Ibadan. The Leyland plant is used as a training center and Nissan vehicles are assembled at the VON plant in Lagos.

Volkswagen of Germany sued Stallion Motors because they did not give them permission to restart production at the Lagos plant, but they reached an out of court settlement. The VON plant now also assembles Volkswagen vehicles.

The Lagos State Government is a shareholder in VON, therefore Lagos State BRT buses are assembled at VON.


Similarly, G.U.O. Okeke bought over the Anambra Motor Manufacturing Company (ANAMMCO), Enugu in 2006. They were not able to run it profitably and A.B.C. took over a production line at the plant. They now assemble Shacman trucks at the ANAMMCO plant.


1 and 2) General Gowon commissions the Volkswagen plant in Lagos

www.nairaland.com/attachments/6423933_17984611avolks20plantjpeg6072d80b88eb0d961939797fc72df66e_jpeg0f869846d798114a9474ff0257e1d181

www.nairaland.com/attachments/6423934_17984601avolksjpega68628ae3655f3311dd201342c72df24_jpegb12a93a05a347bc456fde17696ec8374



3) President Jonathan marks the resumption of activities at the VON plant in Lagos as Nissan rolls out its first vehicles from the plant.

www.nairaland.com/attachments/3094603_jonahdrive2_jpegccc9c6a25690d04fb4a31d5cdcfc8096

EASY39:
A

A is for Apple

Not a bad move

HenryWilliams:
Wonder what happened to partnering with IVM?
Peugeot is aiit but how many can afford brand new Peugeot cars even if its assembled here? Such investments can be channeled towards our local substitute here
How do we think the whites or Asians did if? They looked inwards and developed. Sure they made loads of mistakes along the way, that's normal. In the end, we go gaga for their cars
Let's make JVM our own. And in a dacade. We too will be exporting Africa and beyond.

Oga partner with IVM and market their products. This is business where you are entitled to invest where your investment is secured and not patronize anyone based on sentiment

Good one

Make their cars more affordable ...I would be so happy.

How much go be the carz? would the meet the standard of the assembled ones brot 4rm abroad? Make them no cari death trap kum 4us oo

watch all govt cars become peagueot




in the next two years

people asking him to partner with IVM.. I thought IVM is an Igbo company and not a nigerian company.now they are calling it our own. please allow that man to do his business in peace. his people never claimed it was an Hausa investment..

osas3031:
call or whatsapp the below if interested 250 odd

u again?
hopeless scammer

You are not taking anything out of this world. Stop concentrating on material wealth. Rather,

Seek the Kingdom of God above all else, and live righteously, and He will give you everything you need.
Matthew 6 :33

My people

So that's why Buhari wanted to bring down Innoson for dangote just like they did ibeto for same dangote?

HenryWilliams:
Wonder what happened to partnering with IVM?
Peugeot is aiit but how many can afford brand new Peugeot cars even if its assembled here? Such investments can be channeled towards our local substitute here
How do we think the whites or Asians did if? They looked inwards and developed. Sure they made loads of mistakes along the way, that's normal. In the end, we go gaga for their cars
Let's make JVM our own. And in a dacade. We too will be exporting Africa and beyond.

How do you expect anybody or company to partner with innoson, what? with the bank/ Court issues facing innoson, also the way he is going about it doesn't show a responsible going concern.

Tribalists can wail and rant all they want, but fact is innoson has serious credibility problems.

Banks and other financial institutions are on the red on innoson.

This submission is purely from a business perspective.

NairaMaster1:
Dangote is becoming a scam.

All his projects are TO START:

Since 2012 Dangote Refinery TO start.

Dangote this to start

Dangote that to start!

Shyne your eye well, soon dangote go buy nigeria and nigeria would start working in 2045

NairaMaster1:
Dangote is becoming a scam.

All his projects are TO START:

Since 2012 Dangote Refinery TO start.

Dangote this to start

Dangote that to start!

You think refinery is all about frying crude oil? Have you seen the progress of the refinery, It would take you by surprise when the majority if not all fuel in the nation is supplied by Dagote refineries to marketers and if he coughs the whole country catch cold.

nurey:


IVM partnering with Chinese to bring in unknown brand as CKD, meaning IVM would have more work cut out for them selling these unknown product to buyers

Dangote on the other hand is bringing in intentionally known brand which was functioning in the 90s in nigeria already, less work to sell to consumers as peugeot is already known.

Both would be brought in as CKDs.
No difference.

Buy properties in Abakaliki Ebonyi state for hotels, filling station, factory n residential. Abakaliki is one of the fastest growing state in the southeast because if the Governor's developmental strides. Call 07086770689

dangote is just over hyped..

Cowbuhari:
dangote is just over hyped..

Really? Tell us more!
Break free from bigotry.

Try to get a millionth of Dangote's hype, just try you might just succeed other than bad mouthing someone obviously doing better than you.