Economic

INTERNATIONAL: Hichilema invites BYD to invest in Zambia’s Electric Vehicle Future

Ollus Ndhomu 2 years ago 2 min read

By Zain Madibe

President Hakainde Hichilema, during his official visit to Shenzhen, China, has warmly welcomed BYD (Build Your Dream), a renowned global electric vehicle manufacturer, to contemplate investing in Zambia.

This strategic initiative aims to leverage Zambia’s abundant mineral resources to produce key electric vehicle components, advancing the nation’s standing as an industrial hub while effectively addressing pressing economic and environmental concerns.

Accompanied by BYD’s Chairman and visionary founder, Wang Chuanfu, President Hichilema delved into the promising prospects for collaboration between Zambia and BYD within the electric vehicle sector.

Zambia’s bountiful mineral resources, essential for electric vehicle component production, harmonize seamlessly with BYD’s profound expertise in electric mobility.

President Hichilema emphasized, “Our vision is to elevate Zambia into an industrial hub by adding significant value to our mineral resources. This endeavor will not only generate employment opportunities but also unlock numerous business prospects for our citizens.”

Highlighting the weight of exorbitant petroleum expenses in Zambia, which have substantially contributed to the escalating cost of living, President Hichilema affirmed the government’s unwavering commitment to a gradual transition to electric vehicles, particularly within the realm of public transportation.

The President’s vision is in perfect alignment with global endeavors to curtail emissions and confront the challenges of climate change.

President Hichilema commented, “These innovations are poised to play a pivotal role in mitigating vehicle emissions and addressing the pressing environmental concerns.”

Additionally, the Head of State underscored the potential for Zambia’s youth to embark on journeys of engineering and innovation, citing BYD as an inspiring model with its expansive workforce of 700,000 employees, including 70,000 highly skilled engineers.

The company’s progressive policy actively encourages each engineer to propose a fresh project or innovative concept daily, resulting in a new patent being granted every 15 days.

President Hichilema views this as an exceptional opportunity to engage young Zambians in daily innovation and technological advancement, fostering a vibrant culture of ingenuity and growth.