Interest in driving electric vehicles (EV) has grown over the years, despite concerns about their viability in the Nigerian market, owing to electricity supply issues and poor road infrastructure.
Despite infrastructure challenges, it appears that a sizable number of electric vehicle owners in Nigeria have Tesla and Hyundai Kona electric models in their garages. But, how much does one cost to own?
Not your typical cost?
A Tesla S model costs between N32 million and N62 million in Naira, depending on market forces.
- The price of a Tesla X model ranges from N36 million to N60 million.
- The Tesla Y model costs between N20 million and N30 million.
- The price of a Hyundai Kona electric vehicle ranges between N24 million and N30 million.
The cost of these electric vehicles may be prohibitively expensive for most Nigerians, but it is a small price to pay for the level of convenience that car owners claim they enjoy. They don’t have to worry about visiting gas stations, dealing with local mechanics, or dealing with the challenges of combustion engines, for example.
An individual’s experience
Jelani Aliyu, the Director General of the National Automotive Design and Development Council (NADDC), who drives a Hyundai Kona in Abuja, told Nairametrics that electric vehicles ride smoother than conventional vehicles.
“I don’t have to stop to fill up my tank when I drive my electric vehicle; I only need to charge when I get home.” “The car requires less maintenance than gasoline-powered vehicles,” he claims. We can take Jelani’s word for it, given his extensive experience with automobiles, first as a designer for General Motors in the United States and, more recently, as the head of a government agency in charge of the development of Nigeria’s homemade vehicles.
Another user who showed us around his Tesla car mentioned the car’s aesthetics, the dashboard display, and how well the car integrates with some of the technology more commonly associated with smartphones.
A user who is not Nigerian but of Indian descent reveals that he only drives the Tesla car on weekends and has his own self-built charging station at his Lagos residence.
A scarcity of charging stations
There are currently few dedicated charging stations in the country, so adequate charging infrastructure is currently lacking.
You can set up a home charging system if you do not have access to a dedicated charging station.
According to available data, an EV’s power consumption is comparable to what you would use at home to charge an air conditioner or large refrigerator. When charging at home, a Tesla can charge to full capacity in 4 to 6 hours, whereas a Hyundai Kona car takes 9 hours, 35 minutes. A Tesla car with a full charge can travel between 360km and 560km.
According to 2022 specifications, a Tesla S model has a 100-kWh battery, a Tesla X model has a 75-kWh battery, and a Tesla Y model has a 75-kWh battery.
Meanwhile, a fully charged Hyundai Kona electric car with a 64.0 kWh battery can travel up to 482 kilometers.
Charging an EV is not as expensive as one might think, especially in Nigeria. For example, assuming N60/KWh in the higher band of electricity tariff, a full charge that results in 100KWh of power can cost as much as N6,000.
Battery specifications also influence how quickly a charge can be completed. The longer it takes to charge your battery, the more you are likely to pay in charging fees.
Slow growth of electric vehicles in Nigeria
The electric vehicle market in Nigeria is expanding, but not quickly enough. To actively participate in the global electric vehicle market, the Nigerian government must collaborate with sector investors to fund infrastructure projects such as charging stations, stable power supply in charging stations, and maintenance facilities. According to data from the European Alternative Fuels Observatory, the European Union currently has nearly 275,000 EV charging ports, or approximately 62 charging points per 100,000 inhabitants.
On a per-capita basis, the United States has approximately 37 ports. According to US Department of Energy data, the country currently has nearly 43,000 public EV charging stations and approximately 120,000 charging ports.
Although the examples above are from advanced economies, African countries such as South Africa, Kenya, Uganda, and Morocco are seeing an increase in the number of EV charging stations.
Audi recently announced the addition of 33 new EV charging stations, bringing the total number to 70.
The virgin industry
There are over 300 EV charging companies worldwide, with nearly 100 in North America, but none in Nigeria.
According to Reuters, many are under the age of five, and only a few are over the age of ten. It indicates that it is a developing industry in which Nigerians can participate.
According to Pitchbook, investors have poured more than $2 billion into EV charging startups, with the majority of the funding coming in the last five years.
“Corporate investors in EV charging startups include carmakers like Toyota Motor Corp (7203.T) and Daimler AG (DAIGn.DE); oil and gas companies like Shell (RDSa.L) and Chevron Corp (CVX.N); and tech companies like Qualcomm Inc (QCOM.O) and eBay Inc (EBAY.O).”
The Benefits and Drawbacks of Using a Tesla
By any standard, Tesla electric vehicles are cool and beautiful. Tesla cars are simple to drive, and the car automatically adjusts your steering wheel, mirrors, and car seats and recognizes you when you get in. Tesla vehicles have an excellent navigation system and are among the safest vehicles on the road.
However, Tesla cars are expensive, and parts replacements are also expensive, and there aren’t many Tesla service centers in Nigeria. A 20-inch rim Tesla tire costs N141,200 on the black market on September 12.
However, all electric vehicle brands require less maintenance than conventional vehicles. The batteries in electric vehicles are designed to last the vehicle’s expected lifetime. The associated electronics, batteries, and motors require less maintenance than gasoline-powered vehicles. However, EVs require service on a regular basis. Smile Autos is an electric vehicle servicing shop in Lagos.
What you should be aware of
The Nigerian government has signed an agreement with Israeli and Japanese companies to begin assembling and manufacturing electric vehicles in Nigeria.
Innocent Chukwuma, chairman of Innoson Motors, stated that his company will enter the electric vehicle market when Nigeria is ready. He mentioned the availability of charging stations across the country, implying that EV users will have unlimited access to charging infrastructure.
Culled from Nairametrics
