EVs could be cheaper to own than gas cars in Africa by 2040
Solar-powered charging could flip the economics of transportation across a continent.
Deep Dive
A new study in Nature Energy finds electric vehicles could be cheaper to own than gas cars in most African countries by 2040. The analysis, which includes the cost of solar off-grid charging systems, shows EVs becoming economically competitive as battery prices fall. Electric two-wheelers could be the cheaper option even sooner, by 2030, despite current barriers like unreliable grids and high financing costs which dominate today's market.
Why It Matters
This signals a massive, untapped market shift for automakers and clean energy investors, with solar being the key.