Possible EVs Drives Future: Partners with FG to Roll Out 100 Electric Vehicles by Q2 2024

In a significant stride towards fostering the manufacturing and adoption of electric vehicles (EVs) in Nigeria, the Federal Government is set to collaborate with Possible EVs, an electric vehicle manufacturing company, to deploy 100 vehicles by the second quarter of 2024. This announcement was made by Mosope Olaosebikan, the Founder and Chief Executive Officer of Possible EVs, during a visit by Mr. Joseph Osanipin, the Director General of the National Automotive Design and Development Council (NADDC), to the Possible EVs Experience Centre in Abuja.

Olaosebikan highlighted the primary objective of the collaboration, emphasizing the commitment to ensuring a cleaner environment for Nigerians. Expressing confidence in delivering high-quality EVs, he stated, “We are going to make the government proud by ensuring that we deliver the best in terms of quality.” The company plans to deploy 50 taxis in addition to buses, aiming to encourage more people to transition to electric vehicles. Olaosebikan also revealed ongoing discussions with local and foreign investors to secure a hundred million dollar fund, with the goal of achieving 50% local production by the next year.

To support local production, Possible EVs has established a factory in Idu, focusing on utilizing local materials and increasing overall local content. Collaborating with the Federal Government through NADDC is seen as an opportunity to expand operations in Nigeria and positively impact the country’s economy. Olaosebikan emphasized the potential for job creation and the economic advancement achievable through the widespread adoption of electric vehicles.

Addressing concerns about affordability, Olaosebikan assured that once local production is underway and conducive business environments are established, the cost of EVs will become more accessible to the Nigerian market. This reflects a commitment to making sustainable transportation options available to a broader segment of the population.

Joseph Osanipin, the Director General of NADDC, expressed the government’s recognition of the significant investments that EVs could bring to the country. He affirmed the current administration’s dedication to collaborating with stakeholders to support innovative initiatives like Possible EVs. Osanipin highlighted the environmental benefits of electric vehicles, emphasizing their contribution to a cleaner and healthier atmosphere by avoiding the health hazards associated with traditional fuel emissions.

Osanipin pledged the government’s readiness to support young companies like Possible EVs, stating, “We will key into your idea of a clean environment. We are ready and will support young companies like you, as you deserve to be supported.” Recognizing the potential for revolutionizing the sector and attracting investments across various industries, he affirmed the government’s commitment to providing maximum support.

Possible EVs made headlines approximately six months ago when it launched Nigeria’s first-ever electric vehicle taxi service, EV Taxi, with an initial fleet of 30 units. The company envisions expanding this fleet to at least 20,000 electric taxis across major Nigerian cities by 2028. Moreover, the company proposed the establishment of an electric charging hub in Abuja, with plans to deploy 10,000 stations in public places and highways nationwide within the next five years.

Earlier reports from Infostride News indicated Possible EVs’ ambitious plans to produce up to 10,000 electric vehicles when fully operational. These developments underscore the company’s commitment to sustainable mobility solutions and its role in driving the evolution of the electric vehicle landscape in Nigeria. As the collaboration with the Federal Government gains momentum, the partnership holds the promise of not only advancing environmental sustainability but also contributing significantly to economic growth and job creation in the country.