Customs seizes N2.9b worth of vehicles as dealers point to excessive duty rates

Customs seizes N2.9b worth of vehicles as dealers point to excessive duty rates

Car dealers are attributing the seizure of 533 vehicles with a duty paid value of N2.92 billion by the Nigeria Customs Service between January and November 2023 to the exorbitant duty rates imposed on clearing imported goods, particularly vehicles. Dealers … Continue reading Customs seizes N2.9b worth of vehicles as dealers point to excessive duty rates

Elon Musk announces Tesla's plans to construct a new battery factory in Shanghai

Elon Musk announces Tesla’s plans to construct a new battery factory in Shanghai

Elon Musk, has announced plans to expand Tesla in China with the construction of a new factory dedicated to producing large-scale batteries. The factory, located in Shanghai, will have the capacity to produce 10,000 “Megapack” energy storage units per year, … Continue reading Elon Musk announces Tesla’s plans to construct a new battery factory in Shanghai