Innocent Ifediaso Chukwuma, chairman of the Innoson Vehicle Manufacturing Company (IVM), said the company has the capacity to produce about 500 units of gas-powered and electric vehicles for use in Nigeria, especially given the adjustment in the pump prices of petrol due to the removal of subsidy.
He told journalists that the company has materials to produce up to 20 units of buses daily, amounting to 500 units within a very short period, adding that the factory has been built even before subsidy removal.
“During COVID-19 in 2020, most of the ambulances used in Nigeria were produced in-country. Today, it has become obvious that gas-powered buses that can be used for mass transit is needed in Nigeria and we will produce for those who need them,” he said.
While encouraging state governments to make orders, he said that going overseas to import buses when Innoson is producing and exporting to other countries, is a waste of the much needed foreign exchange.