Zambia custom-made energy storage vehicle

What is the US-Zambia-DRC agreement on EV batteries production?

The U.S.-Zambia-DRC Agreement on EV Batteries Production: What Comes Next? The United States, Zambia, and the Democratic Republic of Congo (DRC) signed a memorandum of understanding (MOU) on the electric vehicle (EV) batteries industries in December 2022.

Will Zambia partner with DRC to produce electric vehicles?

Zambia says it will seek Western lenders for its plans to partner with the Democratic Republic of Congo (DRC) to jointly start producing electric vehicles batteries and cement a firm position in the global supply chain.

Is Zambia a positive development for the EV ecosystem?

I must say this is an incredibly positive development for the Zambian EV ecosystem. Zambia now joins several countries in Africa, such as Ethiopia, Mauritius, and Rwanda, to remove or reduce customs duty on electric vehicles.

How will the removal of customs duty affect electric vehicles in Zambia?

The removal of customs duty for full electric vehicles and the reduction of customs duty for hybrids is a very welcome development. This will help reduce the costs of electric vehicles in Zambia, making them more competitive with ICE vehicles from an upfront purchase point of view.

Can the United States meet the DRC and Zambia's economic and industrial needs?

With the MOU, the United States also aims to help meet the economic and industrial needs of the DRC and Zambia. Yet the MOU constitutes a first-step instrument and political signaling tool. Its successful implementation will depend on specific requirements and input from all three countries.