What is the wholesale price of energy storage vehicles in Accra

Why are EVs so expensive in Africa?

Traditional OEMs have a stranglehold on the automotive market, due largely to high costs, supply chain (part availability), and brand recognition. The cost of EVs typically far surpasses the average earnings of even middle-class buyers in Africa.

Are there any EV manufacturers in Africa?

While companies like Toyota, Stellantis, Renault, and Volkswagen have been in Africa for decades, there have been few EV manufacturers on the continent to date.

Why should Africa Invest in electric vehicles?

Africa has an opportunity to improve economic, environmental, and social conditions by becoming a meaningful player in the emerging electric vehicle (EV) market. In 2019, the transportation sector accounted for 31% of Africa’s greenhouse gas emissions (GHG). EV deployment could also potentially remove the need for expensive petroleum subsidies.

How many EVs are there in South Africa?

Yet in 2020, there were just 6,000 EVs on South African roads and all EVs, including hybrid models, accounted for less than 0.2% of new car sales. In Kenya, another major potential market, EVs only account for an estimated 350 of the country’s 2.2 million cars.

Should China Export EVs to Africa?

For example, China exports vehicles to Africa that don’t meet its own safety/crash standards and in the U.S. and Europe, manufacturers tend to over-engineer vehicles for more developed contexts, such as Germany. A competitive African EV manufacturer would build for local context. Accelerate the transition to EVs.

Should African EV manufacturers switch to four-wheeled vehicles?

For an African EV manufacturer, it could make sense to focus primarily on two- and three-wheeled vehicles, and transition to four-wheeled vehicles in richer areas and as incomes grow. The main supply chain consideration is sourcing components or raw materials.