24,000 e-Vehicles To Hit Nigerian Market By 2025.

Demand for petroleum will drastically be reduced by 2025 when MAX, a Nigerian e-mobility platform and an electric vehicle assembler, deploy 24,000 e-vehicles to the Nigerian market, helping to reduce both greenhouse gas emissions and urban pollution.

MAX are a team of passionate people and a leading technology-enabled company driven by a vision to solve the mobility challenges in Africa. MAX provide drivers with vehicles, financing to purchase the vehicles, health insurance, access to government services e.g. licenses and permits, vehicle repair services, spare parts and emergency response services.

L-R: UK’s Deputy High Commission in Lagos, Ben Llewellyn-Jones; Chief Financial Officer, MAX, Guy-Bertrand Njoya; UK’s High Commissioner to Nigeria, Catriona Laing CB; CEO and CO-Founder, MAX, Adetayo Bamiduro, UK’s Minister for Africa, Vicky Ford; and the Chief Growth Officer and Co-Founder MAX, Chinedu Azodoh, during the UK Minister’s visit to MAX office in Lagos.

 

 

Nigeria, which roads are currently populated by petrol-engined vehicles has thereby created a huge market opportunity for MAX, especially with the inability of the Nigerian National Petroleum Company (NNPC) and its marketers to meet the huge demand for petrol, putting motorists under huge pressure whenever the products are in short supply.

The firm will also provide the opportunity for Nigerians to transmit to e-vehicle, exiting a culture of long queues at fuel stations as well as arbitrary prices. Petrol currently sells for N162 per litre and this is expected to go up any moment from now.

Across Europe, e-vehicle is taking over and the African continent will soon join, creating a big hole in the demand for petrol and also creating a big problem for the Nigerian government which dependence on oil revenues is almost 90 per cent

With support from the UK Foreign, Commonwealth and Development Office’s (FCDO) Manufacturing Africa programme, MAX recently raised about £23 million to ramp up the assembly of electric two-and three-wheelers.

On Wednesday, UK Minister for Africa, Vicky Ford visited MAX plant in Nigeria and sought an enhanced investment partnership with Nigeria, highlighting the UK’s commitment to green manufacturing in Africa and the strong economic links between the two economies.

Chief Executive Officer and Co-Founder of MAX, Adetayo Bamiduro, said “At MAX, we believe that e-mobility holds the key to unlocking Africa’s incredible potential. When people and goods can move reliably and predictably, we can unlock economic opportunities. When they can move sustainably- we can secure the future of millions. We’re deeply appreciative of the continued support of the United Kingdom’s government to the e-mobility industry in Africa, and for the opportunity to share our work with Minister Ford today.”

L-R: Chief Financial Officer, MAX, Guy-Bertrand Njoya; CEO and CO-Founder, MAX, Adetayo Bamiduro, UK’s Minister for Africa, Vicky Ford; and the Chief Growth Officer and Co-Founder MAX, Chinedu Azodoh, during the UK Minister’s visit to MAX office in Lagos.

 

 

Firms like MAX has demonstrated that we don’t have to choose between growing Nigeria’s economy and protecting the environment. The work done by Manufacturing Africa (MA), a programme funded entirely by UK Aid, is just one of the many ways the UK is working to help accelerate global action to tackle climate change.

UK’s support for Nigerian firms through FCDO programming further emphasises the commitment to bilateral trade and investment in Nigeria; UK-based financiers are backing MAX’s growth and MAX has found a UK business partner in Field Ready.

Field Ready produce highly employable young people who are ready for employment within the industrial sector. They select bright young graduates and put those who pass their selection process through a programme of activities to prepare them for employment.

Working across Sub-Saharan Africa, Field Ready is a British headquartered company with teams based in Nigeria, Ghana, Mozambique and Uganda

In Nigeria, Field Ready is working with firms like MAX and are currently running a pilot programme funded by the Government of Nigeria at Yaba Tech with 50 Nigerian engineering graduates

Support for investment in Nigerian firms is also expected to create quality jobs as MAX hopes the money raised will allow it to create 1,600 direct jobs and about 27,500 indirect jobs, which will be essential to meet the five million jobs the IMF estimates will be essential to meet Nigeria’s unemployment gap.

UK Minister for Africa, Vicky Ford, said: “It was a pleasure to meet the team at MAX and to see first-hand how the UK is helping these dynamic entrepreneurs attract investment, create jobs and produce the innovative electric vehicles the world needs to meet our climate challenge.”

The FCDO’s Manufacturing Africa programme harnesses the potential of manufacturing for job-creation, mutual prosperity and poverty reduction.

It offers transaction facilitation support to attract £1.2 billion of foreign direct investment (FDI) and create 90,000 jobs in new production facilities and across supply chains. It operates in Nigeria as well as in Kenya, Ethiopia, Rwanda, and Senegal.

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