Suzuki, Toyota and CFAO join forces to produce vehicles in Ghana

Company News of Wednesday, March 20, 2019

Source: 3news.com

2019-03-20

Representatives of Suzuki Motor Corporation, Toyota Tsusho Corporation and CFAO announced the creation of a joint venture for the manufacture and distribution of vehicles in Ghana.

During a courtesy visit to President Akufo-Addo on Tuesday, Mr. Koyote Suzuki, General Manager for the Middle East and Africa of Suzuki Motor Corporation, told President Akufo-Addo that the company's business is still underway. company producing about 1.8 million vehicles only in India, "my mission is to find our next India on the African continent."

He said that "our next phase of growth will come from Africa, but we need to find the right partner in Africa for manufacturing and distribution after the sale of our vehicles".

Suzuki, he said, has partnered with Toyota in Africa and is currently working in some 26 countries.

"Toyota has told us that the Ghanaian government is considering putting in place a new car policy. We heard that from Toyota executives who visited here last month. We sincerely hope that the Ghanaian government will participate in this initiative. We want to start production here, cultivate it and develop it, "said Suzuki CEO.

Mr. Masafumi Yamashita, of Toyota Tsusho Corporation, said in his remarks that Toyota Corporation and CFAO have the largest car distribution network in Africa and have the ambition to contribute to and support the future development of African countries.

"Our vision is with Africa and for Africa. This time, we are committed to working with Suzuki Motor Corporation for the future development of the automotive industry, here in Africa, as a strategic partner, "he added.

For his part, President Akufo-Addo told the meeting that "these three companies that have come together to advance an idea, here in Ghana, are an idea that we must welcome."

His government, he said, wants to develop a vibrant and dynamic automotive industry in Ghana and has taken several initiatives to this end.

"Finally, I think we are now ready to publish our auto policy that will allow people like you to know what is available to you in terms of government support, as well as the obligations that will fall on you if you enter the auto industry. Ghanaian space, "the president added.

With economic growth estimated at 7.9% this year and a country recognized as one of the most stable countries on the continent, where the rule of law is respected, President Akufo-Addo stressed that "this is a architecture designed specifically to attract investment in our country. "

President Akufo-Addo told the delegation: "You are truly welcome. It will be very good news for Ghanaians to learn that Suzuki is partnering with Toyota Tsusho and CFAO to establish a facility here in Ghana. "

With Suzuki's manufacturing of 1.6-liter motor vehicles in India, the president said, "These are exactly the types of cars that should allow a very successful entry into the Ghanaian market."