Bloomberg video updates on the progress of Ethiopia’s world-leading EV transition.
We hear from Trump Energy Secretary and fossil fuel grifter Chris Wright about how much they care about the poor people in Africa, who want nothing more than to become dependent on unreliable and predatory US companies for their economic lifeline.
Turns out, what Ethiopians want is to be free from Fossil fuel blackmail, and they can’t afford to wait to make it happen.
Description:
In 2024, Ethiopia became the first country to ban imports of new gasoline-powered cars, and the main reason wasn’t global warming. Ethiopia was spending billions of dollars every year on imported fuel it couldn’t afford, and subsequently defaulted on its debt. Cheap hydropower from Africa’s largest dam made electric vehicles a practical alternative, and Chinese-made EVs — some assembled locally — quickly filled dealership lots. Today, Ethiopia’s EV share outpaces the global average. But sticker prices are too high for most, the grid remains patchy and armed conflict is flaring in the country and across the region. Can Ethiopia make its unprecedented bet on EVs pay off?
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Below, not just Ethiopia. Other African countries following the same logic to leapfrog the fossil fuel industry.