The CEO of Innoson Vehicle Manufacturing Company, Chief Innocent Chukwuma has revealed plans to go into Manufacturing of tricycles.
The automobile wizard said he will crash the price of tricycles, once he commences it’s manufacturing, later this year.
Innoson made this disclosure today while taking a group of Catholic Bishops on a tour of his Vehicle Manufacturing Plant in Africa.
A source said tricycle currently sells for about N700,000, while some operators who.take them on hire purchase basis pay as much as N1.2million within a stipulated time.
The entry of IVM into the business may beat down the price to as little as N300,000.
