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Tokunbo Vehicle is the local name ascribed to used vehicles imported from Europe in Nigeria. [1] The word 'Tokunbo' is a unisex name given to children of Yoruba heritage born overseas. It literally means 'born overseas' or 'born across the sea'. In Nigeria, the Tokunbo market signifies the place where different kinds of used items such as ...
History. Automotive industry in Nigeria dates back to the 1950s and consists of the production of passenger cars and commercial trucks. [2] Early production was led by the assembly line of Bedford TJ trucks made by United Africa Company 's subsidiary, Federated Motors Industries and SCOA's production of Peugeot 404 pickup trucks.
Innoson Vehicle Manufacturing Co. [1]Innoson Vehicle Manufacturing Co. Ltd. (commonly shortened to IVM) is a Nigerian automobile manufacturer headquartered in Nnewi, Anambra, Nigeria. It was founded by Chief Innocent Chukwuma Nwala. [2][3][4] Innoson Vehicle Manufacturing is nicknamed Pride Of African Roads. According to the company, 70% of its ...
So it’s important to clear that up. In 2017, Cars45 raised $5 million from Frontier Car Group (FCG), the Berlin-based company that builds used-car marketplaces focusing on emerging markets. This ...
Africa’s startup boom is moving into the used-vehicle space. Nigeria based Cars45.com raised a $5 million Series A round from the Frontier Cars Group, a holding company whose backers include ...
Nigeria based startup Autochek looks to bring the sales and servicing of cars in Africa online. The newly founded venture has closed a $3.4 million pre-seed round co-led by TLcom Capital and 4DX ...
Nigeria. The Izuogu Z-600 prototype was the first indigenous Nigerian car, and the first automobile of indigenous all-African technology. It was the brainchild of engineer Ezekiel Izuogu. [1] Launched in 1997, the car caused a stir in the Nigerian media, and was touted by the then Nigerian chief of Staff General Oladipo Diya.
The U.S. sold more than 17 million new cars that same year. In Nigeria, owning a car is a luxury very few people can afford. It is a similar case across Africa, where car owners often recycle used ...