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By ALICE NACHILEMBE
Zambia’s Ambassador to Germany Anthony Mukwita says the recognition by President Edgar Lungu on the strategic economic opportunities offered by electric vehicles must inspire the business community to invest more in value addition.
Mr Mukwita said President Lungu’s commitment to value addition signifies his government’s readiness to facilitate investment in businesses that will take advantage of the growing electric vehicle industry.
He has called on the business community both in Zambia and Germany to translate government policy on value addition into profits for their companies as well as economic benefits for Zambia.
“The Zambian government has done its part and willing to do more to help business go into value addition. It is now left to business to move in and take advantage of the business opportunities offered by the electric vehicle market which now runs into billions of dollars,” he said.
The Zambian envoy says he will continue to engage the German Chamber of Business Associations with a view to getting auto makers in Germany set up bases in Zambia.
Mr Mukwita said he is confident of a positive outcome as Zambia is offering ready infrastructure to set up manufacturing firms in Multi-facility economic zones that have been built and continue to be built in different parts of the country.
The electric vehicle industry is currently valued at more than 140 billion dollars with estimates that in the next five years, it will jump to 700 billion.
The gradual switch from fossil-fueled vehicles to electric models is a response to the adverse impact of climate change in which transportation has been identified as one of the major culprits.
This is contained in a statement issued by First Secretary for Press and Public Relations in the office of Zambia’s Ambassador to Germany Kellys Kaunda.