Innoson Vehicle Manufacturing Company (IVM), Nigeria’s leading vehicle manufacturer, has introduced its first locally produced electric vehicle (EV) in Nnewi, Anambra State. Cornel Osigwe, the company’s Head of Communications and Corporate Affairs, shared the news via a Facebook post, stating, “I just test-drove the first Innoson electric vehicle produced in Nnewi. We are just starting.”
This marks a significant milestone for Innoson, coming ten months after revealing plans to establish an electric vehicle manufacturing plant. While Osigwe confirmed that this is the company’s first foray into electric vehicle production, specific details about the EV, such as pricing, specifications, production volume, and its commercial launch date, are yet to be disclosed.
This development places Innoson in Nigeria’s growing electric vehicle sector, which already includes companies like MAX, Jet Motor Company, and Possible EVs. With the Nigerian government aiming to have 30% of all vehicles be electric by 2025, the market is gaining momentum. Innoson’s entry comes at a time when rising fuel costs have accelerated the interest in electric vehicles across the country, offering a sustainable alternative to petrol and diesel vehicles.
The EV market in Nigeria is still young but shows promise, with initiatives like battery swap stations for electric motorcycles launched by companies such as Spiro in collaboration with the Ogun State government. Innoson’s move could further bolster the country’s shift towards clean energy transportation, especially as fuel price hikes continue to affect transportation costs nationwide.
E-hailing services like Bolt have already responded to rising fuel prices with fare increases and fuel subsidies to support their drivers, signaling the growing need for alternative energy solutions like EVs.
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