Ayodeji Ayenuwa
In a recent development, Nigeria’s renowned automobile company, Innoson Vehicle Manufacturing (IVM), is set to establish an electric vehicle (EV) factory.
The company has already taken steps toward sustainable mobility by initiating the production of compressed natural gas (CNG) vehicles.
Major marketers recently acquired CNG-enabled buses from IVM, contributing to the company’s environmentally conscious efforts.
Osigwe highlighted the strategic approach behind Innoson’s move into EVs, saying, “In terms of electric vehicles, we have a strategic approach. The chairman has concluded plans to set up an EV manufacturing plant in Nigeria because every major component of producing the electric car is in Nigeria.“
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This decision aligns with Nigeria’s broader push into electric vehicles, evidenced by the inauguration of the country’s first EV charging station in April 2021 and the introduction of Nigeria’s first electric vehicle, the Hyundai Kona, in June 2021.
The Nigerian government’s collaboration with Israeli and Japanese companies in August 2022 further emphasizes the nation’s commitment to electric vehicles.
However, Nigeria faces challenges in the widespread adoption of EVs, including high initial costs, limited technical expertise, infrastructure constraints, and concerns regarding electricity availability.
Innoson’s practical approach to establish an EV manufacturing plant highlights the importance of leveraging locally available resources and reducing dependence on costly imported components.
As Osigwe put it, “All the raw materials are in Nigeria. It doesn’t make sense importing battery and major components of electric car battery, which is the most expensive products of EVs.”
Innoson’s announcement adds a layer to Nigeria’s automotive narrative, joining the ranks of other players like Saglev, an American EV company planning an assembly plant in Lagos, and local startup MAX securing funds for expanding EV operations across Africa.
Ultimately, Innoson Vehicle Manufacturing’s foray into EV manufacturing marks a crucial moment in Nigeria’s automotive industry, emphasizing the company’s commitment to sustainable and locally driven solutions for the future of transportation.
Techrectory with Agency Report.
