Posted on: Thu 05 Feb 2026 at 12:35 pm
The world is steering toward a cleaner, smarter future—one powered by electricity. Across continents, the electric vehicle revolution is no longer a distant vision but a growing reality.
Electric mobility is transitioning from a niche innovation to a global economic shift. In 2024 alone, the global electric vehicle fleet reached 58 million cars — a 45% year-on-year increase — displacing more than one million barrels of oil consumption per day. Public charging infrastructure has also expanded rapidly, surpassing five million chargers worldwide. While China and Europe continue to lead adoption and production, Africa is steadily building momentum. Two- and three-wheelers dominate the continent’s transition, supported by progressive policy incentives, falling costs, and growing private sector participation. Countries such as Rwanda, Kenya, Ethiopia, South Africa, Mauritius, and Ghana are implementing tax reforms, import incentives, and infrastructure investments to accelerate uptake.
However, challenges remain — including limited charging networks, high upfront costs, and supply chain constraints. These gaps present significant opportunities for investors, financiers, infrastructure developers, and policymakers.
This report provides:
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