Pricing Review: EV prices in Nigeria rise

From the newsletter

Electric vehicle prices in Nigeria have risen by 2.1% over the past month, according to Mobility Rising’s monthly prices review. We analyse prices of six popular EV models in Kenya, South Africa, Nigeria and Egypt – four of Africa’s leading markets – to see pricing trends. While prices in Nigeria increased, they remained steady in Kenya, South Africa and Egypt. 

• This is the second consecutive increase in EV prices in Nigeria, where prices had stagnated for more than four months. Prices have remained unchanged for three months in a row in Egypt, and two months in South Africa and Kenya. 

• The influx of newer models, especially in Egypt and South Africa, is expected to lead to lower EV prices. The price pressure will be accelerated by the entry of used EVs, which are becoming popular in some African markets. 

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