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China-made EV brands turn to Africa

China-made EV brands turn to Africa

AFRICA is becoming a new market for Chinese electric vehicle auto brands as trade frictions loom between Beijing and Europe, the US and Canada, with the import of heavily subsidised Chinese-built EVs in the crosshairs of market regulators. In mid-June, the European Commission announced an increase in tariffs to 38.1% on imports of Chinese-built green vehicles, arguing that these vehicles benefit from Chinese government subsidies, infringing on fair competition in the European common market. The US and Canada have also raised concerns over subsidies offered by the Chinese government and proposed even higher- 100%- tariffs on Chinese-made EV imports. Now,…
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Nigeria opens ‘game changer’ billion-dollar deep seaport

Nigeria opens ‘game changer’ billion-dollar deep seaport

SEUN SANNI NIGERIA opened a billion-dollar Chinese-built deep seaport in Lagos, which is expected to ease congestion at the country's ports and help it become an African hub for transhipment, handling cargoes in transit for other destinations. President Muhammadu Buhari has made building infrastructure a key pillar of his government's economic policy and hopes that this will help his ruling party win votes during next month's presidential election. The new Lekki Deep Sea Port is 75% owned by the China Harbour Engineering Company and Tolaram group, with the balance shared between the Lagos state government and the Nigerian Ports Authority.…
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