Co-founding Kemet Automotive Nissi Ogulu has brought a lot of questions most especially about why we chose Africa as a manufacturing Hub for Kemet Automotive. My response is always the same, why not Africa?
Africa as a hub is a massive opportunity for economic development and with Sub-Saharan Africa often regarded as the fastest Urbanization region and with a high percentage of people currently living in this region, it is expected to increase in the next 25 years. This would lead to an increase in vehicles on the road.
Most vehicles in African countries are often older than those in other parts of the world – The average age of the fleet in Nigeria is about 16 years (about 5 years older than in the U.S. and E.U). Older vehicles use fuel less efficiently, which leads to increased financial strain for owners, greater fuel shortages, and poorer air quality.
This is why I believe strongly in the fact that Africa has an opportunity to improve economic, environmental, and social conditions by becoming a meaningful player in the emerging electric vehicle (EV) market and most especially in the manufacturing space. To fully grasp the Importance of what Kemet Automotive strives to achieve, Let’s take a look at South Africa, when Electrical Vehicles are being shipped into the country from another market, the tariff rates are substantially high when compared to imported internal combustion engine vehicles. This is one of the driving forces for Kemet Automotive as this would give agency to African countries and prevent further reliance on international imports.
In November 2023, Kemet Automotive was an exhibitor at the IATF (International Automotive Task Force) Conference. This was an incredible step for the company because my partner and I had the opportunity to connect with respectable dignitaries in the automotive market and share our vision and plans for the company have aided in building an alliance.
With the continuous growth of the Electric Vehicles market and although the brand is still in its inception stages. Kemet Automotive has plans to expand to various markets across Africa that will operate on different levels with the main goal being to eliminate the hefty import taxes that often inflate the prices of electric vehicles as these taxes have long kept electric vehicles out of reach for many potential customers. However, Kemet aims to make EVs accessible to a wider range of customers while creating jobs, boosting the African economy, and fostering a sense of pride in African innovation.