OFFICIALS of Peugeot Automobile Nigeria (PAN) have entered into a technical agreement with Chinese Automobile Firm, Changan Automotive Manufacturing Company, China, while preparations are at advanced stage to flood the country with new brand vehicles.
The management of PAN, in a statement issued in Kaduna at the weekend, said the company “is set to reassert its position as the country’s leading automobile manufacturer, having concluded plans to diversify its brand portfolio, which will see to the mass production of the ALSVIN model, a brand of the Chongqing Changan Automobile China.
Besides, the Chairman Board of Directors of PAN Nigeria Limited, Alhaji Sani Dauda, who led top management of the company to China, said: “PAN will initially produce about 3000 units of the ALSVIN from its Kaduna plant in 2012 with production target expected to increase annually”. The Nigerian automobile company has completed full-scale installation of the factory lines for the production of the ALSVIN, which according to PAN boss, comes with an engine capacity of 1.5 litres.
PAN Managing Director, Alhaji Dauda, further explained: “The decision to diversify into multi-brand, is market driven as it is hinged on the need to produce affordable vehicles within the reach of the middle class in the country”.