OX secures a $163 million contract

• This development follows the company's receipt of $2.1 million from the Energy and Environment Partnership Trust Fund Africa this year. The funds will be used to deploy eight purpose-built e-trucks and establish a depot in Rwanda.

• At the same time, the Rwandan Ministry of Infrastructure (MININFRA) is developing its master plan for EV infrastructure, which aims to install EV charging stations across the country at 50 km intervals to address range anxiety concerns.

• Our take: Transport in the agriculture sector holds great potential for scalability… Read more (2 min)

Is China leading America in African mobility?

• China views Africa not only as a source of minerals but also as a partner in EV manufacturing and a key market for its expanding used electric cars. Last month, it launched its first inspection point for used electric cars. It aims to export one million second-hand electric cars within the next two to three years.

• The United States, on the other hand, is more focused on securing critical minerals. Its largest transport-focused investment in Africa—the $4 billion Lobito Corridor railway—aims to export these minerals to meet its demand for EVs and renewable energy technologies.

• Our take: Competition for the African market means it gets EVs at lower prices... Read more (2 min)

November sees EV investor pullback

• Both November and October had equity investors as the largest pool of investors. In November, the equity investors included Digital Energy Facility, Mauritius-based Launch Africa, JLL Foundation, and Senagal’s Teranga Capital.

• The debt investors were limited to Egypt, and they included EFG Corp-Solutions, Bank NXT, and the Egyptian Gulf Bank (EG Bank).

• Our take: The sector is showing growth potential but needs more investors to scale... Read more (2 min)

• VW push for EVs in Kenya: Volkswagen (VW) announced plans to resume car production in Kenya by the end of 2024, with a focus on expanding its portfolio to include hybrid and electric vehicles. Martina Biene, CEO of Volkswagen South Africa, highlighted Kenya's potential as a hub for the East African automotive industry and emphasised the company's commitment to progressively transitioning to greener technologies to meet market demands. (TheKenyaTimes)

• Way forward for South Africa EV transition: The Electric Mission, SA’s consultancy firm, in collaboration with the Norwegian Electric Vehicle Association, has engaged government entities to propose tax structure adjustments aimed at making EVs more affordable. They acknowledge tweaking taxes like ad-valorem and carbon levies can balance the cost of EVs and fuel vehicles. South Africa can follow Norway’s success model for the EV transition by using taxation to make EVs less costly. (Engineering News)

• Awaited EV shows up but not for sale: Kia has teased the arrival of its all-electric EV5 in South Africa, marking its third EV launch in the country following the EV6 debut in 2021, with official pricing and release details expected in 2025. The EV5, showcased at Kia’s year-end event at the Glendower Golf Estate in South Africa, will be introduced alongside the Tasman bakkie (pickup), facelift Sorento, and updated Carnival, but will be sold exclusively through select dealerships. (Citizen)

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