By NATION REPORTER
CHINESE investors have indicated that they are ready to set up electric vehicle battery factories in Zambia from our cobalt, Minister of Infrastructure Charles Milupi has indicated.
Mr Milupi said during the third China-Africa Economic and Trade Expo (CAETE), in Changsha City of Hunan Province in China, he invited potential investors to consider investing in Zambia’s emerging electric car batteries sector.
“In our key note address to the Forum, we reiterated that to support green development, the new dawn administration was investing in clean energy technologies. We hastened to mention that Zambia and the Democratic Republic of Congo (DRC) have partnered to establish special economic zones for manufacturing of batteries for the electric vehicle value-chain,” he said.
Mr Milupi said they observed that Zambia and the DRC produced more than 70 percent of global Cobalt, of which more than 95% was exported in raw form, depriving the two countries of the much-needed place in the electric vehicle value-chain.
“We therefore invited potential investors to come over to Zambia and take advantage of this opportunity by investing in the production of electric vehicle batteries and other related accessories locally,” he said.