Vehicles powered entirely or partially by electricity are referred to as EVs. Electric vehicles are environmentally friendly because they use very few or no fossil fuels (petrol or diesel) and have fewer moving parts to maintain. They also have lower operating costs. Reaching global net zero necessitates the transition to electric vehicles (EVs).
However, African markets will be distinct. Although numerous African nations supply the rare raw materials required for EV technology, the continent may fall behind without infrastructure and policy support.
The Equatorial Guinea Electric Vehicle Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2022 to 2030.
Five vehicles powered by compressed natural gas (CNG) have recently been delivered in Equatorial Guinea by the Egyptian company Taqa Arabia, which specialises in energy distribution.
This is how the government of this Central African nation wants to meet the energy needs of several sectors, particularly transportation, in a time when natural gas is becoming an important part of the international energy transition.
The partnership, which was signed during the African Energy Week that was held in South Africa by the African Energy Chamber, aims to construct CNG fueling stations for automobiles throughout Equatorial Guinea
The International Monetary Fund estimates that Equatorial Guinea’s GDP will be billion, despite the country’s reliance on oil as its primary source of income. However, the nation in Central Africa intends to be carbon neutral.
As a result, the government has signed more contracts with Trident Energy, Kosmos Energy, and Panoro Energy to explore its gas reserves in order to broaden its energy portfolio. The transportation industry ought to be able to lower its emissions with natural gas.
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