The Nigerian-owned vehicle manufacturing company Innoson Motors has announced its first locally manufactured electric vehicle (EV). This development was announced by the company’s Head of Communications and Corporate Affairs, Cornel Osigwe.
I just test drove the first Innoson electric vehicle produced in Nnewi. We are just starting.
Cornel Osigwe shared a video of where he test-drove the EV on his Facebook page.
The manufacturing of Innoson Electric car was first in talk 10-months ago where the company highlighted the benefits of manufacturing cars locally. The company also revealed it plans establish electric vehicle (EV) factory.
However, while the company has unveiled it first locally produced EVs, additional information about the pricing, specifications, production quantity, and the timeline for its commercial release has not been revealed yet.
Although, this EV development is the first of it kind for Innoson Vehicle Manufacturing (IVM) company, but not new to Nigeria. The country has already has locally manufactured EVs from Nigerian EV companies.
These EV companies, including MAX, Jet Motor Company, Savenhart Investment Limited Technology (Siltech), Possible EVs, and Electric Motor Vehicle Company (EMVC).
It's important to also note that Nigeria's electric vehicle (EV) market is still in its pilot stage, but the growing interest is evident - with the government aiming for 30% of vehicles to be electric by 2025.
Companies like Spiro have already started operations in Nigeria. The company continues to launch battery swap stations for electric motorcycles in partnership with the Ogun State government.
The Innoson’s recent entry into the EV market comes at the right time, I must say. The innovation comes amid fuel price hikes, which have significantly impacted various sectors, including ride-hailing services like Bolt and Uber.
For example, taxi apps like Bolt have responded by increasing fares by 15% across all ride categories in Nigeria to support drivers. Additionally, Bolt has previously offered fuel subsidies to help offset the rising costs faced by its driver-partners.
The manufacturing of Electric Vehicles (EVs) by Innoson Motors will contribute to Nigeria's significant shifts towards greener alternatives as country explores options to reduce reliance on petrol and diesel.