Namibia’s strides in the electric vehicle (EV) sector, while aligned with its green hydrogen initiatives, face substantial challenges, particularly in infrastructure development and cost, Simonis Storm Securities said.
It said introduction of the high-end GWM ORA 03 300 Super Luxury by Pupkewitz GWM showcases innovation in sustainable transportation, yet its high price of N$699,900 highlights the economic barriers in adopting EVs.
“This cost factor raises significant concerns about the accessibility of EV technology to the wider population,” the firm said.
It said the lack of a robust EV charging infrastructure in Namibia presents a considerable obstacle.
“Despite advancements in renewable energy, such as the ambitious green hydrogen projects, the country faces the challenge of establishing the necessary infrastructure for EVs. This gap hinders the practicality and appeal of electric vehicles, potentially slowing down their adoption.”
In response to these challenges, startups like e-Car Namibia are emerging in the sector. Focused on converting internal combustion engine vehicles to electric, e-Car Namibia is addressing both the demand for EVs and the need for more affordable options. Their initiatives, which include retrofitting popular models like Land Cruisers and providing solar-powered EV stations, reflect a growing entrepreneurial spirit in Namibia’s EV market.
Simonis said this startup activity, while still in its nascent stages, is a promising sign of the country’s commitment to overcoming the barriers in its path towards sustainable mobility.
Simonis said NamPower’s Battery Energy Storage System (BESS) project in Erongo, although a leap forward in energy storage, underscores the complexity and financial intensity of infrastructural development required for a green transition.
“While Namibia is taking important steps towards a sustainable future, the journey is complicated by high costs and the demanding task of building extensive EV infrastructure. These challenges must be strategically addressed to fully realize the potential of electric vehicles and renewable energy in the country’s automotive sector,” Simonis said.
