UAE firm starts $150m Africa EV plant

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United Arab Emirates-based investment company Aquilastor has broken ground on an EV production plant in Kenya. It is located at the Olkaria geothermal hub, about 90 km northwest of the capital Nairobi. It will produce both EVs and hybrids and will have a capacity of 50,000 units annually once completed. The company will invest $150 million in the project. 

• The investment by Aquilastor will significantly increase Kenya’s maximum EV production capacity which currently stands at about 140,000 units per year. More than 80% of this capacity is for production of electric motorcycles.   

• The majority of the investments in Africa’s EV sector has been in assembly in main markets. Only South Africa and Morocco manufacture for export.  

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