Nigeria’s match towards local automotive assembly got fired up once again as Renault automakers of France returns back to the country with a bilateral agreement with Coscharis Automobile Group to assemble the brand locally.
This piece of good news, which started gaining traction since last week, became real Thursday when the new Renault assembly plant located at Awoyaya, Epe in Lagos was announced by a high-powered delegation from France led by Fabrice Cambolive, senior vice president and chairman of the Africa, Middle East, India region of Groupe Renault, and Coscharis Group led by Cosmas Maduka, president/chief executive, in a latest strategic alliance that was expected to reshape the face of automobile industry in Nigeria.
To kick start this strong cooperation, which involves both local production and distribution, two of the Renault variants namely Logan and Duster will be assembled in the existing Coscharis Assembly facility with an initial investment of $50 million in 2014. Meanwhile, the Renault Kwid and Oroch models respectively will be imported as completely built unit (CBU) in due course of the partnership.
In terms of size, the Coscharis Motors Assembly plant can assemble 18.000 cars per annum with capacity to assemble 36,000 cars on two shifts. In 2018, it assembled about 2000 vehicles which is regrettably which the company said is far below the installed capacity.
Speaking shortly before the tour of the Renault assembly plant yesterday, Fabrice Cambolive, senior vice president and chairman of the Africa, MiddleEast India region of Groupe Renault said, “With a population of over 200 million, Nigeria is a strategic African country where Groupe Renault will extend its footprint. The Coscharis Group is a recognized player in car (vehicle) assembly and distribution’’.
Fabrice Cambolive disclosed that the choice of Coscharis in the new partnership was made possible by a combination of the loal assembler’s expertise and the Renault model range that are adapted to the local needs.
With this synergy, ‘’We will be able to answer immediately to the customers’ demand in Nigeria,” said Groupe Renault.
He disclosed that that the Renault brand is leading the African continent with an 18% market share. In 2018, Groupe Renault sold more than 216 000 vehicles in Africa, with huge sales volume coming from Morocco, Algeria, South Africa, Egypt.
The group’s objective is to maintain its leadership within these countries and respond to the demand of the new emerging middle class of the countries like Nigeria.
Commenting on this new business collaboration, the President / CEO of Coscharis Group, Cosmas Maduka said: ‘’this partnership is to showcase another initiative from our great organization through one of our subsidiaries, Coscharis Motors, to further create value as a key player in the automobile industry in Nigeria’’.
we are glad to celebrate the confidence the renowned brand, Renault reposed in us to represent them in Nigeria.
This milestone marks another step in the evolution of our organization towards remaining timeless in its relevance’’.
According to Maduka, this partnership is to further delight the esteemed loyal customers and prospects alike, especially towards providing them a bouquet of more options and value for money.
In his words, ‘’We are committed to broadening our dealership scope when such opportunity as this happens, since it is a strategic opportunity to deliver capable, refined and cost-effective vehicle models to our ever loyal customers,” he said.
