Innoson Unveils Nigeria’s First Locally-made Electric Vehicle
Innoson Unveils Nigeria’s First Locally-made Electric Vehicle
Innoson electric car
Nnewi, Anambra State-based Innoson Vehicle Manufacturing (IVM) Company has unveiled the first locally produced electric vehicle in Nigeria.
In a post on Facebook, the company’s Head of Communications and Corporate Affairs, Cornel Osigwe stated the electric vehicle was manufactured at the company’s production plant in Nnewi, Anambra State.
He said, “I just test drove the first Innoson vehicle Electric vehicle produced in Nnewi. We are just starting.”
“The initial batch of IVM electric cars has been completely sold out,” Mr Osigwe said.
He said he has received hundreds of phone calls and payments from interested clients who want to buy the company’s electric vehicles.
“My inbox was filled with enquiries on the prices. The first set, which are few in numbers, are now currently sold out,” he stated.
Mr. Osigwe revealed that this marks the company’s first-ever production of an electric vehicle (EV). However, details regarding the pricing of the Innoson EV, number of units produced and the timeline for its commercial release were not disclosed.
(Inset: Innocent Chukwuma, Founder/CEO OF IVM)
However, Innoson, according to information available on its website, has a partnership agreement with Access Bank Plc through which clients can access soft loans from the Bank which repayable over a period of three years (36 months). The reasonably long stretch is intended to make it easier for customers to afford to purchase the company’s vehicles.
Electric vehicles are a crucial technology for decarbonizing road transport, a sector responsible for over 15% of global energy-related emissions, according to the International Energy Agency (IEA).
In recent years, the sale of electric vehicles has seen significant growth, driven by improved range, a wider variety of models, and enhanced performance. Passenger electric cars are becoming increasingly popular, with an estimated 18% of new cars sold in 2023 being electric.
However, in many developing and emerging countries, sales have lagged due to the typically higher purchase costs compared to conventional vehicles and a limited charging infrastructure.
In an earlier post on Wednesday, Mr Osigwe, uploaded a video clip which showed him test-driving one of the company’s electric vehicles.
“This is the first Innoson electric vehicle. This is good. This is sound,” he stated.
There have been efforts by the Nigerian government to stimulate energy switching from petrol use to alternative sources.
The efforts are geared towards reducing carbon emissions from vehicles using petrol for road transport.
After removing the petrol subsidy on 29 May 2023, President Bola Tinubu launched the Presidential Compressed Natural Gas Initiative in October last year to deliver cheaper, safer and more climate-friendly energy.
The repayment period is spread out over 36 months (3 years) allowing you the ease to pay the corresponding monthly amount for the particular vehicle you choose.
