- Charging equipment for electric vehicles will be exempt from tax
- The draft policy widens that tax gap by imposing an additional 20% excise tax on every new passenger car or light commercial vehicle that lands in CBU at the port
- Importers will also have to present emissions and road-worthiness certificates before shipment
- Ministry wants to close another gap between consumers and lenders by introducing an asset-based vehicle loan (car as collateral)
- Multiverse Enterprise Plc teaming up with the Defense Engineering Industry Corporation to assemble and finance about 5,000 diesel and electric taxis.
- Commercial Bank of Ethiopia (CBE) endorsed the plan, earmarking 17% of a 35-billion-Br fund for down payments.
- Multiverse wants to swap 15,000 cabs and claims to have supplier credit in forex.
- The draft’s export section eyes the African Continental Free Trade Area
Electric
New draft automotive development policy promises incentives for Electric, Hydrogen-powered and LPG vehicles
