Stymied in the West, Chinese EV Brands Look to Expand in Africa
Description
Just over a million new vehicles were sold in Africa last year, a relatively small number given the continent's enormous population, estimated at 1.5 billion. Chinese auto brands are looking at that discrepancy and think it provides a unique opportunity for rapid expansion, particularly in the budding electric vehicle market.
BAIC Motors, BYD, Xpeng, and Neta are among a growing number of Chinese auto majors that have scaled up sales and manufacturing in Africa.
But selling EVs in Africa is not going to be easy. In many countries, access to reliable electricity is a problem. Then there's the issue of charging stations and the high import taxes many governments impose on foreign-made cars.
Even amid those challenges, Alex Mwanzo, general manager of Equator Mobile — a unit of the investment holding company Maris Africa — is optimistic about the prospects for Chinese EVs. Alex joins Eric & Njenga from Nairobi to explain why Chinese auto brands are well-positioned in the African market.
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