Cape verde electric vehicle costs

The "Cabo Verde – Electric Vehicles" project, also known as "ProMEC," focuses on enhancing EV charging infrastructure. The project has €7.2 million in funding through May 2025 and aims to assist the government in implementing its electric vehicle promotion strategy to achieve significant market
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The "Cabo Verde – Electric Vehicles" project, also known as "ProMEC," focuses on enhancing EV charging infrastructure. The project has €7.2 million in funding through May 2025 and aims to assist the government in implementing its electric vehicle promotion strategy to achieve significant market penetration.

In order to address one of the main the financial barriers, specifically the high cost of electric vehicles, the project will establish an Electric Mobility Facility (EMF). The EMF will provide a rebate covering a significant share of the incremental cost of electric cars and buses to first-mover individuals, companies and institutions.

The Government of Cabo Verde has set itself the goal of replacing the country''s entire vehicle fleet with electric vehicles by 2050. Locally generated electricity from renewable energy sources is to replace imported fossil fuels in road transport.

The strategic vision of the Government''s policy for Electric Mobility in Cabo Verde is to achieve the gradual replacement of the current fleet of vehicles equipped with internal combustion engine (gasoline or diesel based) by clean electric vehicles, without GHG emission, by 2050, in alignment with

However, despite falling battery costs, the promise of savings over the lifetime of an EV from lower fuel and maintenance costs, the upfront prices remain out of the range of average Africa. According to Cox Automotive, the average cost of a new electric vehicle is about $55,600 (N23M).

Background: Only three out of 10 households in Cabo Verde own a private car. However, due to the country''s improving economic situation and an increasing demand for individual transport, it is expected that the motorisation level will steadily rise in the coming years. Cabo Verde''s government has identified the promotion of electric vehicles as a strategy for reducing road transport-related greenhouse gas emissions as well as increasing the share of renewable energy in the energy mix, from 20 percent at present to 100 percent by 2040.

The financial component will be complemented by the creation of a legal and regulatory framework for electric mobility, raise awareness among the general public, introduce training opportunities for mechanics and create an MRV system for road transport-related GHG emissions. With these combined measures, Cabo Verde will evolve to be a model for electric mobility transformation in West Africa and across the wider small island developing state (SIDS) context.

Electric shares of total vehicle sales in Africa are well below levels found in many developing countries in other regions. The EV shares are even lower if imported used vehicles are taken into account, since about 1.5 million used vehicles are imported into Africa every year.

Regarding EV policies, a few African countries, including Cape Verde, Kenya, and Morocco, have announced non-legally binding EV targets. For example, Cape Verde has set 100% EV targets for new sales of passenger cars by 2035 and urban buses by 2040, as well as interim electrification objectives for fleet segments—including passenger cars, urban buses, and government vehicles—and for the nation''s charging infrastructure.

The continent features many opportunities and success stories in the areas of electric shared mobility, electrification of two- and three-wheelers, e-mobility business, manufacturing, incentives, R&D, and charging infrastructure. It also faces a number of challenges in accelerating a ZEV transition, such as import of used internal combustion vehicles, absence of ZEV regulations and policies, lack of technical skills, and unreliable power supply and off-grid rural communities, to name a few.

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Mr. Alexandre Monteiro, Cape Verde''s Minister for Industry, announced that Cape Verde has seen decent demand for electric vehicles, with over 80 requests filed and almost half already fulfilled and circulating.

On April 14th, Cape Verde hosted, its first Workshop on the promotion of electric mobility in this territory, promoted by the Programme for the Promotion of Electric Mobility in Cabo Verde (ProMEC) that aims to improve the process of importing, acquiring and using electric vehicles, as well as contribute to the improvement of after-sales service,for both the public and private sectors.  

As part of this initiative, the government of Cape Verde has approved an incentives programme  to support the acquisition of 600 electric vehicles and installation of 100 charging stations. The implementation of this initiative is led by the National Directorate of Industry, Trade and Energy, under the ProMEC Project and funded by the NAMA Facility fund and with technical assistance from German International Cooperation Agency (GIZ).

The initial values of the incentives vary between a minimum of 88 thousand escudos (800 euros), for the acquisition of charging stations, and 5.5 million escudos (50 thousand euros), for the purchase of electric buses up to 17 seats .

About Cape verde electric vehicle costs

About Cape verde electric vehicle costs

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