Innoson Vehicle Manufacturing Company (IVM) has made history by unveiling its first locally produced electric vehicle.
Gatekeepers News reports that the company’s Head of Communications and Corporate Affairs, Cornel Osigwe, took the news to Facebook to share, stating that the electric vehicle was manufactured at the company’s production plant in Nnewi, Anambra state.
“I just test drove the first Innoson vehicle Electric vehicle produced in Nnewi. We are just starting,” Osigwe said.
This marks the company’s first-ever production of an electric vehicle (EV), a crucial technology for decarbonizing road transport. However, details regarding the pricing of the Innoson EV, the number of units produced, and the timeline for its commercial release were not disclosed.
The debut of the Innoson EV comes at a time when the world is shifting away from petrol-powered vehicles in response to climate change and efforts to reduce emissions. In Nigeria, the increase in petrol prices following the deregulation of the downstream sector of the petroleum industry might present an opportunity for investors in the EV space.
Nigeria has been promoting electric vehicle adoption, with the National Automotive Industry Design and Development Council (NADDC) launching a pilot program to establish 100 solar-powered electric vehicle charging stations across the country. In 2021, the government introduced its first locally assembled electric vehicle, the Hyundai Kona, produced by Stallion Motors.
Despite these efforts, Nigeria still faces significant challenges in generating enough electricity for households and industries. The country only manages to generate around 5,000 Megawatts of electricity despite its energy demands reaching around 40 terawatts of power.
