Innoson Vehicle Manufacturing (IVM) has denied reports suggesting that its Chairman and CEO, Innocent Chukwuma, plans to move the company’s operations, investments, and assets to Ghana.
In a statement on its official X account on Friday, IVM described the claims as “false and misleading” and said they do not reflect the position or intentions of Chukwuma or the company.
The statement read, “Nigeria is home. Beyond sentiment, it remains a land of immense opportunity that IVM continues to believe in and actively invest in. 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.”
IVM said it is expanding its operations in Nigeria, including projects in Compressed Natural Gas and electric vehicle production, and a major facility in Nnewi, Anambra State, aimed at supporting cleaner and cost-effective transportation.
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The company urged the public and media to rely only on official IVM communications and disregard unverified reports.
Founded in 2007, IVM is Nigeria’s first indigenous automobile manufacturer and is headquartered in Nnewi.