The global automotive industry is rapidly shifting toward electric vehicles (EVs) as countries seek to reduce carbon emissions and meet the Paris Agreement’s goal of net-zero emissions by 2050.
Developed economies are leading this transition, while developing countries, including Nigeria, face economic and infrastructural constraints that have slowed adoption.
Nigeria has committed to decarbonising road transportation through EV adoption.
According to the country’s Energy Transition Plan, launched in 2022, it aims for a 100% transition to electric vehicles by 2060, with Lagos State targeting 2050.
The federal government also instituted a National Action Plan for the Development of Electric Vehicles (EVDP), aiming for at least 30% of vehicles produced locally to be electric by 2032, alongside efforts to reduce reliance on imported vehicles.
Despite these policy measures, EV adoption in Nigeria is constrained by limited charging infrastructure, inconsistent electricity supply, and comparatively low economic capacity.
However, private companies have entered the market, assembling and selling EVs domestically while also producing other vehicle types such as saloon cars, SUVs, trucks, buses, and intracity three- and four-wheelers. These initiatives indicate gradual growth in Nigeria’s electric mobility sector.
This article spotlights the companies assembling electric vehicles in Nigeria and the founders and owners driving their growth.
Sunil Vaswani is the Chairman of the Stallion Group, under which Stallion Group Nigeria operates. A British and Nigerian citizen, Vaswani was born in India, grew up in Nigeria, and studied economics and accounting in London. He currently resides in Dubai’s upscale Emirates Hills.
Stallion Group Nigeria assembled and unveiled the Hyundai KONA Electric in 2021, making it one of the first electric vehicles introduced into the Nigerian market. The 64 kWh version can accelerate from 0 to 100 km/h in 7.6 seconds, features adjustable regenerative braking for energy efficiency, and has a modern interior with a center console and shift-by-wire controls.
In addition to EVs, Stallion Group Nigeria assembles and distributes a broad range of vehicles, including sedans, SUVs, trucks, buses, and intracity three- and four-wheelers such as the Bajaj RE. The company represents several global brands, including Hyundai, Honda, Nissan, Changan, Ashok Leyland, and Morris Garages.
We Nigerians are happy, Seriously this is a welcome development, our youth will be rapidly employed into this industries, may God see us through amen!