New Investments
Chinese Electric Vehicle Manufacturer Chery to Invest $20 Million in Kenyan EV Assembly Plant
Chinese electric vehicle (EV) manufacturer, Chery, has announced a $20 million investment in Kenyan auto dealer, Afrigreen Automobile.
The partnership aims to establish an EV assembly plant in Nairobi, a move projected to boost Kenya’s green transportation initiatives and create thousands of jobs.
According to Nishant Mishra, Afrigreen Automobile’s Global Head of Future Mobility, the assembly plant will commence operations within a month and is expected to produce between 5,000 and 6,000 EVs annually.
The vehicles will target both the Kenyan and wider COMESA markets.
The Principal Secretary for Investments, Trade, and Industry, Abubakar Hassan Abubakar, emphasized the venture’s positive impact on Kenya’s transport sector.
With a current EV fleet of approximately 4,000 against a total car population of 1.7 million, the assembly plant is seen as a crucial step towards a greener future.
The deal marks another significant entry of Chinese EV firms into the Kenyan market. Earlier this year, Chinese EV maker NETA invested in Moja EV Kenya, with plans to assemble 250 EVs monthly.
This development underscores Kenya’s growing interest in electric mobility and its potential to contribute to the country’s economic growth and environmental sustainability.
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