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Automobile firm invests $50 million to boost industry capacity

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•Donates N35m PPE to tackle coronavirus in Nigeria
Hyundai Motor Company has invested $50 million in building a new complete knock-down (CKD) plant to boost activities in the automobile industry.

Besides, the automobile firm is also investing €20 million between this year and next on flexible packaging to be used for food and other products.

CKD is a manufacturing process adopted in the automotive manufacturing field. In this process, the manufacturer completely strips down or disassembles a vehicle at the origin and reassembles it in another country.

These were the submissions of the Special Adviser on Sustainable Development Goals and Investment to Governor Sanwo-Olu, Solape Hammond, while receiving the donation of 27,000 personal Protection equipment (PPEs) worth N35 million to assist front-line medical workers and the public in the fight against the Coronavirus pandemic.

Nigeria is one of the 37 countries that will benefit from Hyundai’s assistance, which is part of the company’s pledge to donate medical equipment and personal protection items worth over $2.4 million to countries across the Middle East, and Africa in an effort to help tackle the COVID-19 pandemic.

The donations to Nigeria include 25,000 face masks, and 2,000 protective suits to help the country combat the COVID-19.

Hammond said it was heartening to see positive stories of hope, and the confidence that humanity shall overcome this situation and emerge stronger.

“This is a philanthropic, magnanimous and civic responsibility gesture; we are happy to receive it, and recognise Hyundai Motors and Stallion Group as our partners in development. The group pays their taxes, and invests in the state.

“This year alone, they have invested $50 million in building a new CKD plant, and they are also investing €20 million between this year and next on flexible packaging, which we use for a lot of our foods and other products. Those are the kind of companies we have in Lagos, solving real challenges among others.

“This has been a surprising year for us and the outcome is dire, if we rally round, we would solve the problems of people in getting the best for the state and country at large. What we want is prosperity of people and business and we would achieve that development,” she disclosed.

Speaking, CEO Stallion Group, Anant Badjatya, said the contribution was part of Hyundai’s commitment to support those in need in the region. All the protective gears will be distributed to the hospitals supporting COVID Care in Lagos.

He added that the situation in Nigeria could have been very different if it was not handled with speed and in time by the governing authorities, and sincerely thanked Governor Babajide Sanwo-Olu for his vision and the able team for efficiently handling the situation with aplomb.

Brand Manager, Gaurav Vashisht, added that in recent weeks, Hyundai has helped those in need around the world through donations and contributing medical equipment and personal protection items.

The Vice President, Head of Hyundai Motor Company Middle East and Africa HQs, Bang Sun Jeong, said: “Caring for humanity has always been at the heart of Hyundai’s vision and having assisted those in need in countries around the world. We are proud to expand our support to countries across the Middle East and Africa regions that have been hardest hit by the pandemic.

“The contributions of personal protection items are another step forward of making a positive difference and we believe if we work together, we can overcome anything.

“We sincerely hope our efforts contribute towards making a difference in this fight. We are committed to supporting the communities in the region, and we hope this helps in ensuring the safety and wellbeing of people.

“We believe if we stay together, we can overcome anything. We hope this pandemic can soon come to an end and we can help people get back to their daily lives.”

Among Hyundai’s initiatives to tackle COVID-19 globally include delivering emergency supplies to medical facilities in China, offering free transportation for the elderly and healthcare professionals in Brazil and providing a fleet of its vehicles to volunteers and self-isolating customers in the UK.


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