- Ethiopia’s Belayneh Kindie Group is setting up an electric vehicle assembly plant which is expected to begin operating in the next three months
- The project in Debre Berhan city has a $37.3 million capital and is expected to assemble 1000 electric cars per year
- However, once the factory goes operational, it is expected to assemble over 250 electric cars until the end of the current financial year
Ethiopia: An electric vehicle assembly plant capable of assembling 1,000 electric cars annually is set to start operating in Debre Berhan city in Ethiopia in the next three months.
According to reports, the electric car assembling plant is being built in Debre Berhan with $37.3 million capital.
Belayneh Kinde, the owner of the project and CEO of Belayneh Kindie Group told the media that the plant will begin manufacturing in the next three months.
Upon its completion, he said that the factory will have the capacity to assemble 1000 electric cars vehicles per year.
When the plant goes operational, Belyaneh said that more than 250 electric vehicles will be assembled until the end of the current financial year.
He also mentioned that the factory will create direct employment opportunities for 500 individuals.
The CEO added that the Group started assembling internationally recognized IVECO and Golden Bus cars at its factory in Gelan, four years ago, assembling more than 1200 cars in the process.
This project could boost Ethiopia’s ability to assemble electric cars as many countries within the region have begun moving towards rolling electric vehicles for business and conserving the environment.
Also read: Emerging Africa Fund Commits $26 Million to 44MW Hydropower Plant in Cote d’Ivoire
Elsewhere, UK’s Private Infrastructure Development Group (PIDG) company, the Emerging Africa Infrastructure Fund (EAIF), announced a €25 million ($26million) finance facility to Ivoire Hydro Energy (IHE), which will build a 44MW hydroelectricity generation plant on the Bandama River near the village of Singrobo in Côte d’Ivoire.
Emerging Africa Fund Commits $26 Million to 44MW Hydropower Plant in Cote d’Ivoire
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