Africa turns to used EVs from the US

From the newsletter

US-based vehicle shipping firm Ship Overseas has reported a 37% jump in annual revenue, which it has attributed to a surge in demand for shipping of used EVs to Africa, noting a 19% rise in customer demand in the period. Ship Overseas has expanded its operations to serve Kenya, Ghana, Nigeria and South Africa, four of Africa’s fastest-developing EV markets.

• There were nearly 400,000 registered used EVs in the US in 2024. It is one of the world's biggest EV manufacturers and supplies both new and used EVs to global markets. 

• The US is however unlikely to be a major or reliable source of used EVs for Africa. A removal of subsidies is expected to sharply increase prices, which could make existing owners hold on to their cars for longer. 

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