Ethiopia has launched its biggest electric vehicle (EV) factory in Debre Berhan, Amhara region, which is expected to produce around 1,000 cars a year.
Local entrepreneur Belayneh Kinde built the factory for over $52 million.
In 2020, Ethiopian businessman and Olympian Haile Gebreselassie started an EV assembly plant with Hyundai. Unfortunately, that partnership fell through after a year due to foreign currency shortages for importing materials.
What’s more, economic challenges have prompted the Ethiopian government to postpone significant initiatives like the $5 billion Grand Renaissance Dam. This dam is crucial for improving the electricity network needed to support the growing number of EVs.
As part of its 10-year Perspective Development Plan, Ethiopia aims to import 4,800 electric buses and 148,000 electric cars. Last year, they banned non-electric car imports and introduced tax breaks for electric cars to push this green initiative.
The Ministry of Transport recently announced they’ve brought in over 100,000 electric cars and set up 60 charging stations in Addis Ababa, driving the green movement forward.
Source
techpoint.africa
