FG, South Korea sign agreement to manufacture electric vehicles in Nigeria
The federal government has announced the signing of a Memorandum of Understanding with South Korea, to establish a plant for the manufacturing of electric vehicles in Nigeria.
The National Orientation Agency, in a statement on X, on Monday, said the minister of state for industry, John Enoh, signed the agreement with the Asia Economic Development Committee of South Korea.
The NOA said, “The Federal Government has signed an agreement with South Korea to establish an electric vehicle manufacturing plant in Nigeria.
“The Memorandum of Understanding (MoU) was signed by the Minister of State for Industry, John Enoh, and representatives of the Asia Economic Development Committee (AEDC) of South Korea.
“The project is said to be implemented in phases, beginning with EV assembly and expanding into full in-house production, with an estimated capacity of 300,000 vehicles and the creation of approximately 10,000 jobs.”
According to the agency, the initiative is aimed at boosting Nigeria’s transition to clean energy and boost local industrial capacity, adding that it will also accelerate technology transfer, investment promotion, human capital development, and research, design, and innovation.
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