Osinbajo urges automotive industry stakeholders to focus on vehicle financing

According to him, it is impossible to have a successful automotive sector without a robust vehicle financing regime."I think that is an area where we really need to focus our attention on. "The approach I will want to recommend is similar to the Focus Lab that was set up to drive investments in the economy. He noted that the Buhari administration was committed to the advancement of Nigeria's automotive industry as it had demonstrated considerable political will toward the implementation of a new automotive policy. "I think that if we get the individual components right, we should be able to fly with this policy," he added. Advertisement AdvertisementThe leader of the delegation, Mr Thomas Schaefer said the group's visit to Nigeria was to advance discussions on developing the African automotive industry by adopting an African approach.

Patimban port crucial for automotive industry

Patimban port crucial for automotive industryJakartaJakarta, posted: Sat, June 30 2018 | 01:36 amDuring a recent meeting between the Indonesian foreign minister and her Japanese counterpart, they reiterated the urgency of speeding up the development of the Patimban seaport in Subang regency, West Java. The new port has been chosen as a replacement for the Cilamaya port project in Karawang regency, West Java, which was rejected due to its proximity to oil platforms in the Java Sea. ...TOPICRELATED NEWS

Smart factory adoption could be catalyst for automotive industry

as informed in A new study has found that adoption of smart factory technology is set to add up to $160 billion annually to the global auto industry in productivity gains by 2023 onwards. Meanwhile, at a further 43% of automotive companies, smart factory initiatives are currently being formulated. Researchers found that, the automotive sector has the highest share of organisations which have invested more than $250 million in smart factories. Along with America, which under its current administration is placing a heightened importance on home-grown manufacturing, manufacturing hubs of India and China also lag behind Western Europe's main players. This study clearly demonstrates the enthusiasm among automotive organizations to invest in smart factories and the awareness of the long-term benefits.

collected by :Catlin Logan