Energy Co-Invest Corp to Launch Electric Vehicle Assembly in Ethiopia

ADDIS ABABA (MFA)– Energy Co-Invest Corp, Toronto-based based developer and financer for energy and infrastructure projects, has chosen Ethiopia as the first destination from African countries to set up its electric vehicle assembly and inductive charging stations.

In a meeting held on November 20, 2017 with State Minister Dr. Aklilu Hailemichael the owner and CEO of the Corporation, Mr. Jordan Oxley announced that his company has embarked its studies which help the plant to fully materialize in the near future. Mr. Jordan said the project is a fully funded project whose central aim largely coincides with the clean energy development strategy the Ethiopian government aspires to forge. The CEO noted the cheaper, cleaner and self-sustaining vehicles would mark a revolution on the car industry in the country and motivates other African countries to follow Ethiopia’s experience in the field.

Dr. Aklilu noted the position taken by the Energy Co-Invest Corp to kick off its plant showcased country’s awe-inspiring records to building a middle income green climate resilient economy (GCRE) by 2020. The move taken by the Corporation is in tandem with the policies and strategies of the country, noted the State Minister.

Dr. Aklilu added Ethiopia could also garner immense benefits from the technology transfer in the meanwhile. He also noted with the bulge of the middle class in Ethiopia and the high demand of vehicles, the Corporation would not have issues related to markets for its products. He expressed his government’s keenness to support the Corporation in all ways possible.

Mrs. Eyerusalem Amdemariam, Business Diplomacy Director-General at the Ministry of Foreign Affairs of Ethiopia also noted that the delegation from the company is scheduled to hold talks with other stakeholders in the country to fast track the commencement of the plant very soon.

Source: The Ministry of Foreign Affairs of Ethiopia (MFA)
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