Backward integration spurred Coscharis to deliver new assembly plant – Maduka

The President and Chief Executive Officer of Coscharis Motor, Dr Cosmos Maduka has given an analogy on why upon the squeeze in the economy and defects of the 2013 Auto Policy, the company pushed ahead to deliver its ultra modern assembly plant in Lekki.

It would be recalled that the plant had been a long wait from November 2015 when it commenced physical structuring of the new Plant.

However, the massive facility seating on a 14 Hectares of land in Lagos is rated second in the continent after that of South Africa.

Maduka further stated that  Undertaking the venture underpins the level of confidence and hope the group has for the future of the Nigerian automotive industry”.

He said “The human capital opportunities that stand to be delivered in terms of employment and by extension the multiplier effect on the economic development of the country cannot be underplayed”.

“The National Automotive Industry Development Plan aims, among other objectives, to discourage the importation of Completely Built vehicles and encourage the local manufacturing of vehicles through either Complete Knocked Down or Semi Knocked Down facilities for a start.

“We are aware that a few automobile companies have also initiated their process towards achieving this objective. “However, at Coscharis Motors Plc, our concern and commitment to our loyal customers and stakeholders is to, as usual, set standards that other players will be judged by in the industry.

ALSO SEE: $43m cash haul: EFCC to question sacked NIA Boss, wife

“At the moment, our focus at the Plant is to rollout the Ford Ranger, which is a multipurpose mini-truck that serves well for both work and leisure.“This is also to appreciate the confidence that the globally respected iconic brand, FORD, reposed in us as their exclusive official representative in Nigeria to roll out the very first Ford Assembly Plant in Nigeria. This milestone marks another first in the evolution of our company towards remaining timeless in its relevance”, Maduka averred.

“The National Automotive Industry Development Plan aims, among other objectives, to discourage the importation of Completely Built vehicles and encourage the local manufacturing of vehicles through either Complete Knocked Down or Semi Knocked Down facilities for a start.

“We are aware that a few automobile companies have also initiated their process towards achieving this objective. “However, at Coscharis Motors Plc, our concern and commitment to our loyal customers and stakeholders is to, as usual, set standards that other players will be judged by in the industry.

“At the moment, our focus at the Plant is to rollout the Ford Ranger, which is a multipurpose mini-truck that serves well for both work and leisure.“This is also to appreciate the confidence that the globally respected iconic brand, FORD, reposed in us as their exclusive official representative in Nigeria to roll out the very first Ford Assembly Plant in Nigeria. This milestone marks another first in the evolution of our company towards remaining timeless in its relevance”, he added.

Advertisement

Continuing, he added that “Coscharis Motors have taken the challenge for our generation.

As a strong believer in our dear country as an entity, we can only but demand for governmental support in terms of enabling environment vis-à-vis basic infrastructures that are required to keep the manufacturing process on and more importantly the purchase patronage of the finished products from the Plant”.