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Toyota Nigeria Limited Announces Three Electric Vehicles and CNG Conversion Support

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Toyota Nigeria Limited Announces Three Electric Vehicles and CNG Conversion Support

Toyota Nigeria Limited (TNL) has revealed plans to launch three electric vehicles in Nigeria over the next three years, aligning with the government’s green deal initiative. The announcement was made by TNL’s Managing Director, Mr. Kunle Ade-Ojo, during the maiden edition of the Toyota Motor Show organized by TNL. The new hybrid electric vehicles slated for introduction are the Toyota Cross, RAV4, and Land Cruiser Prado.

Electric Vehicles Rollout Plan

Mr. Ade-Ojo outlined the timeline for the rollout of these vehicles. “By the end of this year, we’ll be introducing our first hybrid electric vehicle, Toyota Cross. Next year, we’ll introduce the RAV4 hybrid. And late next year or early 2026, we would be bringing in the Land Cruiser Prado hybrid,” he stated. This strategic move demonstrates TNL’s commitment to supporting Nigeria’s transition to cleaner and more sustainable transportation options.

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Support for Compressed Natural Gas (CNG) Vehicles

In addition to the electric vehicle initiative, TNL is set to lend its extensive network of workshops to bolster the Federal Government’s campaign for the use of Compressed Natural Gas (CNG)-powered vehicles through conversion. “We are almost concluding arrangements with different partners to use our network of workshops for vehicle conversion to CNG-powered,” said Ade-Ojo. This initiative aims to provide an alternative fuel option that reduces greenhouse gas emissions and offers cost savings to vehicle owners.

Market Performance and Projections

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Reflecting on the market performance, Mr. Ade-Ojo recalled that Nigeria sold about 10,000 new vehicles last year, with Toyota accounting for approximately 1,500 units. He projected that about 15,000 new vehicles would be sold in Nigeria this year, with Toyota on course to double its performance from the previous year. This optimistic outlook is supported by TNL’s strategic initiatives and product offerings.

Toyota Motor Show Highlights

The exclusive Toyota Motor Show, held from June 27-29 in Lekki, showcased a variety of activities and highlighted TNL’s commitment to customer engagement and satisfaction. The event featured vehicle displays, two new Toyota product launches, special after-sale packages, test drives, and engaging interactions. The three-day event was designed to resemble international auto fairs, providing a cozy and spacious environment that included a Body and Paint Section, a Spare Parts cubicle, and a Service area.

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Outside the hall, an international test-drive arena allowed customers to experience the performance of Toyota vehicles firsthand. The event attracted top government officials, influential CEOs, and other key stakeholders, who were given personalized tours by Mr. Ade-Ojo and other TNL executives. These interactions provided detailed insights into each displayed vehicle and the comprehensive after-sales services available.

Customer-Centric Approach

Mr. Ade-Ojo emphasized the importance of the motor show in strengthening customer relationships and showcasing TNL’s range of services. “While we’re still participating in other shows, this solo Toyota Motor Show will enable us to concentrate on our customers’ needs, giving them a view of our range of vehicles and letting them know other things we can do for them in terms of after-sale service, spare parts availability, and body and paint, as well as other value-adding services,” he explained.

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The event also featured free diagnostics on customers’ vehicles and test drives, creating a relaxed and comfortable environment for attendees. Mr. Ade-Ojo expressed satisfaction with the turnout and the positive feedback received, stating, “It was a wonderful outing. Everybody enjoyed the ability to come and have a one-on-one interaction with our team.”

In conclusion, Toyota Nigeria Limited’s announcement of launching three electric vehicles and supporting CNG conversion underscores its commitment to innovation, sustainability, and customer satisfaction in Nigeria’s evolving automotive market.

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Iceland Demands Supermarket Rivals Stop Selling Prawn Rings

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Iceland Demands Supermarket Rivals Stop Selling Prawn Rings

Supermarket chain Iceland has filed a trademark application for its well-known “King Prawn Rings,” urging rival supermarkets to stop selling similar products. Iceland, headquartered in Flintshire, claims it has faced increasing imitation since introducing its prawn rings in 1991.

In a bold open letter shared on social media platform X (formerly Twitter), Iceland called out major competitors Aldi, Tesco, Lidl, and Asda, accusing them of selling “copy crustaceans.” The letter cheekily asserted, “The King Prawn Ring is ours, and we won’t be letting you off the hook.”

Lidl humorously responded, “Here was us thinking it was a classic 1970s party dish.”

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Iceland’s letter, signed by “Iceland Foods,” warned other retailers to cease selling prawn rings, especially ahead of Christmas. The chain emphasized its intent to pursue legal action if competitors don’t comply, declaring, “Our lawyers are more than ready to dive into legal waters.”

The prawn ring battle has sparked social media buzz, with consumers eagerly watching how rival supermarkets will respond to Iceland’s trademark claim.

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Boeing Workers Reject Latest Pay Offer Despite 30% Rise, Union Says

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Boeing Workers Reject Latest Pay Offer Despite 30% Rise, Union Says

The union representing striking Boeing workers has stated that its members are not interested in the company’s latest pay proposal, which includes a 30% raise over four years. According to the International Association of Machinists and Aerospace Workers (IAM), a survey revealed overwhelming dissatisfaction with the offer, labeling it as “inadequate.”

This rejection follows Boeing’s new “best and final” offer, which also included a performance bonus reinstatement, improved retirement benefits, and a one-time $6,000 signing bonus. The company set a deadline for the deal to be ratified by union members by midnight on September 27.

However, IAM criticized Boeing for sending the offer directly to workers and the media without consulting union leaders and stated that the time frame was insufficient to organize a proper vote. Boeing has denied the union’s claims and said it would allow more time and provide support to facilitate the vote.

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China Unveils Bold Measures to Revive Economy Amid Growth Concerns

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China Unveils Bold Measures to Revive Economy Amid Growth Concerns

China’s central bank, the People’s Bank of China (PBOC), has launched a significant package of measures aimed at revitalizing its struggling economy. PBOC Governor Pan Gongsheng announced plans to lower borrowing costs and allow banks to expand lending to stimulate economic activity.

With recent economic data raising concerns that China may miss its 5% growth target this year, the central bank will cut the reserve requirement ratio (RRR)—the amount of cash banks must hold in reserve—by half a percentage point, releasing around 1 trillion yuan ($142 billion) into the economy. Additional cuts may follow later in the year.

The package also addresses China’s property market crisis by cutting interest rates for existing mortgages and reducing minimum down payments for all homes to 15%.

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Asian stock markets responded positively to the news, seeing a boost after Mr. Pan’s announcement, which came during a rare joint press conference with officials from two other financial regulators.

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