Peugeot Automobile Nigeria (PAN) Limited announced on Wednesday that it would commence its first industrial assembly of the Peugeot 301 in the country in its factory in Kaduna and also commission an automotive cluster park site on July 1, 2014.

Speaking at the 2nd Abuja International Automobile Exhibition (AIAE), the company's managing director, Ibrahim Boyi, who was represented by zonal sales manager, Abuja, Olayinka Seriki, said the move was part of efforts at supporting the new automotive policy of the federal government.

He said that the initiatives would enable the auto giant meet the huge demand for locally-manufactured vehicles and reclaim its number one spot in the country’s auto sector.

In his remarks, the director-general, National Automotive Council (NAC), Aminu Jalal, commended the organisers of the exhibition, MFV Nigeria.

"The exhibition is in line with government’s synergy of achieving sustainable auto sector development and growth using private sector participation as the focus around which the National Industrial Development Plan (NIDP) can be realised," he said.
Following the new auto policy, seven vehicle plants are currently actively involved in automobile production, while about 50 components and parts makers have also set up shop.