Kenya signs Ksh389B electric vehicle manufacturing deal
The President pointed out that the MOU provides a framework for one of the largest electric mobility investments in the region. The post Kenya signs Ksh389B electric vehicle manufacturing deal appeared first on KBC Digital .
Kenya's President William Ruto signed a $3 billion Memorandum of Understanding (MoU) on electric vehicle manufacturing with Endelevu Enterprise Corporation on Tuesday at State House, Nairobi. The integrated green mobility project aims to manufacture and assemble electric vehicles in Kenya, shifting from importing finished vehicles to adding value locally.
The MoU establishes a framework for a $3 billion investment, including an assembly plant for 50,000 four-wheel vehicles and 100,000 two-wheelers per year. The initiative will create 2,000 direct jobs and over 20,000 indirect jobs, with additional opportunities in fleet management, logistics, and services. President Ruto emphasized that the project will contribute to energy security and reduce Kenya's dependency on imported petroleum.
The MoU also links Kenya's investment in clean mobility with the Dangote East African Refinery in Lamu, highlighting strategic synergy between energy and transportation sectors.
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