The Federal Government is set to collaborate with Possible EVs, an electric vehicle manufacturing company, to deploy 100 electric vehicles (EVs) before the second quarter of 2024. The Founder and CEO of Possible EVs, Mosope Olaosebikan, announced the collaboration during a visit by the Director General of the National Automotive Design and Development Council (NADDC), Mr. Joseph Osanipin, to the Possible EVs Experience Centre in Abuja.
Olaosebikan stated that the purpose of the collaboration was to ensure a clean environment for Nigerians, expressing the company’s commitment to delivering high-quality EVs. Possible EVs plans to deploy 50 taxis alongside buses, aiming to encourage more people to switch to electric vehicles. The company is also in talks with local and foreign investors to raise a $100 million fund, with the goal of achieving 50% local production by the next year.
Possible EVs, which is just one year old, has already set up a factory in Idu to facilitate local production and usage of materials, thereby increasing local content. Olaosebikan highlighted the positive impact on the country’s economy, job creation, and the move toward cleaner and more efficient transportation.
The CEO assured that once local production commences, coupled with the right business environment, the cost of EVs would become more affordable for Nigerians. The NADDC DG, Mr. Joseph Osanipin, emphasized the government’s commitment to supporting innovative initiatives like EVs, recognizing the significant investment they could bring to the country. He reiterated the government’s readiness to support and collaborate with companies like Possible EVs to promote sustainable mobility and job creation. Possible EVs launched Nigeria’s first-ever electric vehicle taxi service, EV Taxi, about six months ago, with plans to expand its fleet and charging infrastructure in the coming years.
