Innoson Vehicle Manufacturing has denied reports suggesting that its Chairman and Chief Executive Officer, Innocent Chukwuma, intends to move the company’s operations, investments, and properties to Ghana.
In a statement posted on its official X account on Friday, the company described the circulating claims as “false and misleading,” adding that they do not reflect the position or intentions of Chukwuma or IVM.
The statement read, “Innoson Vehicle Manufacturing remains proudly Nigerian-founded, built, and sustained with a clear vision of contributing meaningfully to the industrial and economic advancement of Nigeria.
“Nigeria is home. Beyond sentiment, it remains a land of immense opportunity that IVM continues to believe in and actively invest in.
“Rather than divesting, IVM is deepening its roots, expanding its operations, and positioning itself as a key player in Africa’s automotive future, starting from Nigeria.”
IVM further said it is advancing projects in Compressed Natural Gas and electric vehicle production, including a major facility in Nnewi, Anambra State, aimed at supporting cleaner and cost-effective transportation solutions in the country.
The company urged the public and media stakeholders to rely only on official communications from IVM and disregard unverified reports.
Founded in 2007, IVM is Nigeria’s first indigenous automobile manufacturing company, headquartered in Nnewi.
The PUNCH