China eyes Africa as it shifts EV gears in face of US, EU tariffs
China is redirecting its
electric vehicle (EV) strategy in the face of mounting tariffs from the US and EU, gradually pivoting from these established export markets
towards emerging ones such as Africa
The Chinese ambassador to Nigeria, Yu Dunhai, revealed plans earlier this month for EV and battery plants in the West African country. This is expected to boost local industrialisation as well as help Nigeria to capitalise on its rich deposits of lithium, a critical material for EV batteries and other electronics.
Chinese firms mining lithium in the country were seeking full-cycle local manufacturing, Yu told Dele Alake, Nigeria's solid minerals development minister, in the capital Abuja on May 15.
'[Chinese] President Xi [Jinping] prioritises African industrialisation,' Yu added, as he outlined the plans under way for the EV and battery plants in Nigeria.
Alake welcomed Beijing's moves, citing Nigeria's new focus on local value addition in leveraging natural resources, especially lithium, by encouraging local processing and EV manufacturing.
This drive is clear in Nasarawa state, a solid minerals hub in Nigeria's north-central region that has attracted huge Chinese investment in the mining and processing of lithium. Chinese firm Avatar New Energy Materials launched Nigeria's largest lithium processing plant in Nasarawa last May, with annual revenue estimated at US$500 million.
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