Electric vehicle adoption in Addis Ababa, Ethiopia, hopes to solve several roadblocks simultaneously. By introducing electric vehicles into the mainstream, Ethiopia aims to improve air quality, reach climate goals, create jobs, and spur economic development.
The attractiveness of the Ethiopian market to an electric vehicle start-up is obvious. Firstly, a population of 120 million people offers a broad customer base. This, coupled with the economic growth rate of over 7% and fewer competitors compared to other countries in the region, has made EV start-ups in Ethiopia keen to grow their business locally before expanding to neighboring countries. The influx of capital shows encouraging signs of capital investing into Ethiopia more broadly, which the government has encouraged by floating its currency for the first time.
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