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The combined global market for key clean technologies – solar PV, batteries, wind, electrolysers and heat pumps – reaches USD 640 billion per year by 2030 in the APS.
Exploring the Future of Electric Vehicles: How the Automotive Industry is Embracing Change.
Around the world, the automotive industry is looking increasingly electric, given that to significant changes in legislation, such as upcoming limitations on the sale of internal combustion engine (ICE) vehicles, evolving consumer behaviour, and continual innovations in battery and charging technologies.
By 2035, the world's three largest automotive markets—the United States, the European Union, and China—are predicted to sell solely electric vehicles (EVs), accounting for 80% of global vehicle sales by 2050. EVs are a vital component in achieving climate neutrality, carbon emission reduction and improving urban quality of life by reducing air and noise pollution.
The worldwide trend towards sustainable practices has positioned Africa as a potential supplier of green renewable energy. The continent's abundant sunshine, hydrogen and wind resources make it excellent for renewable energy initiatives. Exporting renewable energy not only helps to achieve global environmental goals and the potential to reduce emissions, but it also unlock economic opportunities and create millions of jobs. Africa could have a green hydrogen production capacity and the potential to produce 30-60 million tonnes per annum (mtpa) of green hydrogen by 2050 while creating 3.7 million new jobs and boosting the continent’s GDP by as much as $60 billion to $120 billion.
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Africa has enormous supplies of renewable resources essential to the energy revolution, but it operates merely at the primary level of the battery and electric vehicle value chain. While Electric Vehicle (EV) adoption in Africa is growing, the continent confronts some particular challenges as it transitions to electric mobility. Unreliable electrical supply, limited vehicle affordability, and the prevalence of secondhand vehicles continue to pose challenges. Many countries are taking major steps to improve power availability. However, electrical dependability is still a concern. To alleviate range anxiety, which may discourage consumers from purchasing EVs, stable energy supply and charging infrastructure must be established ahead of demand.
Some Sub-Saharan African countries are starting to establish vehicle electrification targets and EV adoption incentives. With a few exceptions, driving behaviour is ideal for EV adoption; nonetheless, the use case for electric two-wheeler adoption is more beneficial, rapidly rising, and predicted to be the most prevalent. The electrification of passenger vehicles is projected to be the slowest owing to supply restrictions.
To accelerate growth, auto entrepreneurs, businesses, and investors should look into prospects and consider investing in domestic e-mobility solutions that develop or modify EVs to local demands and context. Seek to boost investment in local electrical and charging infrastructure (EVCI), energy storage and battery technologies, manufacturing, and supply chain.
Join SSCG Automotive and Mobility Forum conversation on accelerating the development of African automotive industry, vehicle manufacturing, Electrical Vehicle (EVs) batteries manufacturing and BESS supply chain, Auto technologies, innovation, e-mobility, unlocking untapped investment and growth opportunities.
SSCG provide end to end consulting and agile project management delivery services to automotive clients to help them increase operation agility by following agile principles, ensure end-user satisfaction, enhance and speed-up the ROIs on using processes within the organisation. We support our clients identify best-fit process assessment and definition, create an agile transformation roadmap and implementing agile processes and programmes delivery.
Join the SSCG Africa Energy Forum on "Unlocking the Potential of African Energy Sector - Investment, Integration, Clean Technologies, Transition to Renewable Energy and Sustainable Development." on Tuesday, 01 October 2024.
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