Leading global brand in agricultural equipment and technology, Lovol has announced its entry into the Nigerian market.
Mr. Paul Yu, Sub Saharan Africa Manager made this known to ACE Magazine in a meeting on Tuesday to introduce its brand in the local market.
Lovol is a brand and product of Weichai Lovol Intelligent Agriculture Technology with headquarters in China’s south East Shandong Province.
It operates in 128 countries and regions and operates over 500 business channels.
Yu, the brain driving the project of developing the company’s market in Nigeria said although the products of the company may be fairly new in Nigeria, it has over the years been a known name in so many sub-Saharan African countries.
He expressed optimism that the market will embrace the products with its genuine drive towards the development of tech-based agriculture.
He described Lovol as holding promises for the Nigerian agriculture industry, and the quest for Nigeria to become food sufficient.
According to him, “The need to arrive in Nigeria now is strategic and in line with the company’s policy of expansion and control of Africa’s largest market.
He noted that with the success of Chinese companies and businesses in Nigeria and a tradition of China being Nigeria’s largest trading partner and investment base, there is no doubt that Lovol will be a huge success with its full range of quality agric machinery, equipment, parts, and servicing incentives.
Yu assured that if need be, the company would be favourably disposed to establishing a production base in Nigeria as it has in some countries outside its native China.
He told ACE Magazine that business is about making the right moves and making clients get service at an affordable rate. “If producing in Nigeria will be a wise investment decision, I am sure our company will not hesitate to take the option. We are certain that will a market as large and central as Nigeria in Africa and especially in West Africa, it would be a good business strategy to manufacture in Nigeria, provided the conditions are right.
“However, for now, our major effort is to develop and deepen a flourishing market and over the years ahead, if we find the conditions suitable to manufacture in Nigeria, we are open to that.”
Lovol, according to him stands for quality products, and with their office in Nigeria, after-sales services would be assured. “We also deal in our machines’ spare parts and servicing.”
From the information available in the company’s catalogues and website, “Weifang General Research Institute currently has more than 1,800 R&D personnel; it has established technology innovation centers in North America, Europe, and Japan, and has established a global R&D system in cooperation with the Austria VDS Innovation Center of Weichai Group.
It also carries out industry-university-research cooperation with well-known universities and research institutions at home and abroad, and built six national-level and eight provincial-level innovation platforms.
“Weichai Lovol Intelligent Agricultural spends 3%-5% of its annual sales revenue on Research and Development. It invested $60 million in R&D in 2021, we will continue to increase investment in research and development, and continue to make breakthroughs in key core technologies in 2023,” the company assured.
The company operates 138 national and provincial projects; 73 National and industry-standard formulations; 1,400 various patents; 46 awards and honors above the regional level over the years.
The export market share of large and medium-sized tractors is 28%, ranking first in domestic agricultural machinery industry exports.
“The company has been committed to creating a professional, fast, and considerable customer service system, adhering to the “customer-centric” service concept, through service dispatch, parts supply, service skills training, service engineering data development, and other forms to the global users. We provide comprehensive service support for the whole process of pre-sale, in-sale and after-sale,” Yu coached.
