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Stock impact report

Nigeria and Kenya lead Africa's push for electric vans assembled from Chinese EV kits [Yahoo! Finance Canada]

Toyota Motor Corporation (TM) 
US:NYSE Investor Relations: toyota-global.com/investors
Saglev of Nigeria has begun assembling 18-seater passenger electric vans using imported kits supplied by Chinese automaker Dongfeng Motor Corp. The Lagos-based company says it plans to make up to 2,500 vehicles a year, eventually assembling 17 electric models for Nigeria and other West African markets. “This is a major step in Nigeria's transition toward clean, fossil-free transportation,” said Saglev's CEO Olu Falaye. He said the van is the first locally assembled electric vehicle of its kind for mass transit in Nigeria and sub-Saharan Africa. “This feat is a clear signal that electric mobility in Nigeria is practical, scalable and ready for adoption,” Falaye said. Saglev is a joint venture between Nigeria's Stallion Group, a major auto distributor, and Chinese automaker Sokon Motor. It also plans to install solar-powered charging stations to provide more reliable sources of power, a key challenge for EV adoption in some parts of Africa. There's a similar push in Kenya, wher Show less Read more
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