After about five decades of operating Peugeot assembly plant, PAN Nigeria Limited says it has dropped the brand and opted for two Chinese brands, Chery and Higer.
The auto company however dismissed reports that its Kaduna State-based factory has been bought over, stressing that it has only ceased to be an assembler of Peugeot vehicles.
It added that the factory had evolved as a multi-brand assembler of reputable international brands.
PAN Nigeria, which recently named Taiwo Oluleye as its acting managing director, said it would be rolling out new vehicle models designed to meet the high expectations of its target market.
It said in a statement that “PAN has already signed deals with two leading Chinese companies, Chery Automobile and Higer Bus Company, which specialise in the production of passenger cars and commercial vehicles.
“While Chery is a leading manufacturer of sport utility vehicles and sedans, Higer is a reputable producer of mini and city buses.”
It stated that the assembly of multiple brands at the PAN plant would increase capacity utilisation, create new jobs, and promote local content development.
“We have a wide range of exciting new products ranging from pickups, buses, sedans, SUVs, and ambulances which will be produced in our plant to serve needs of the important segments.
“The new products would be competitively priced, offering high value for money in the PAN Nigeria tradition.”
It also said that the company would bring its extensive experience as the foremost auto manufacturer to bear on the production, distribution, and maintenance of the new products.