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Many African nations rely on imported fossil fuels to meet their transportation sector energy needs. These imports of fossil fuels make up a sizable portion of the total import cost, depleting the countries’ precious and desperately needed foreign currency.
They recently examined a couple of these nations. Zimbabwe is one example, where the main imported goods are mineral fuels and mineral oil products.
Kenya is another illustration. Kenya imported million tons more petroleum products last year, at a cost to the nation of billions. Fuel imports cost Ethiopia EM’s around billions every year.
Accelerating the use of electric motors and eventually replacing imports of fossil fuels, which deplete foreign exchange reserves, with locally generated clean electricity will significantly help these economies. Ethiopia EM’s uses are renewable energy to power its grid (hydro and some wind).
According to IRENA, wind and “hydro” were the main contributors. As units are gradually phased in, Ethiopia is gradually increasing its hydropower capacity. The GERD will increase the country’s proportion of clean electricity.
The Ethiopia Electric motor Market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.
With the goal of promoting renewable energy in the nation, Green Tech Ethiopia has introduced six models of imported rechargeable solar and electric-powered vehicles.
These businesses were founded with the goal of promoting renewable energy in our society by offering innovative renewable energy technology and services, such as many styles of reasonably priced solar and electric vehicles. Chief Executive Officer of Green Tech Ethiopia.
The business purchased the vehicles from Chinese automaker Dongfeng Motor Corporation and intends to open a car assembly plant soon.
Fit sum stated that additional motors had arrived at the port in Djibouti from the six distinct electric motor models that had already landed in Addis Abeeba.
In the coming years, the company also intends to import electric motors and enter the transportation sector through its green transport initiative service.
Similar to this, the corporation has made a more comprehensive electric motor selling package available to its prospective clients in an effort to help middle- and low-income societies and foster entrepreneurship in the nation.
