" ITREALMS: Electric Vehicles critical technologies for clean energy transition says Marisa Lago - ITREALMS

Tuesday, August 15, 2023

Electric Vehicles critical technologies for clean energy transition says Marisa Lago - ITREALMS

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The Electric Vehicles (EVs) have been described as critical technologies capable of facilitating clean energy transition the world is yearning for, reports 
Electric Vehicles critical technologies for clean energy transition says Marisa Lago - ITREALMS
Speaking at the Microsoft Garage Electric Vehicle Hackathon in Lagos, the United States (US) Under Secretary of Commerce for International Trade, Marisa Lago on Monday, also said that Electric Vehicles could create new economy jobs.

She noted that with the Microsoft Garage in Lagos, Nigeria will not only benefit from the energy aspect but ideas originated going beyond the garage walls and borders.

“You will be an impact on the world,” Lago said, stressing that Nigeria well-deserved reputation as innovators encouraged her to lead this trade mission to the country comprised of minority- and veteran-owned businesses.

“These cutting-edge U.S. companies that are eager to find opportunities to expand business relationships with Nigerian counterparts. And, with four ICT companies on this trade mission, you may well find that one of them can be a key partner to help achieve your goals,” she urged.

In addition, Lago pointed out that the transition to EVs present a tremendous opportunity to drive innovation in the automotive sector and provide good paying jobs for Nigerians, while simultaneously addressing climate change and reducing dependence on fossil fuels.

“Now that is a virtuous cycle,” she declared, emphasising that the reality, though, is that, to fully realize this potential, we must identify and overcome the barriers that are standing in our way. Today’s discussion and the work undertaken throughout the hackathon will illuminate the challenges and generate novel solutions. Of one thing I am certain, the full design and implementation of your solutions will require close collaboration among public and private sector stakeholders and the research community.

The under secretary said that at first instance, supportive infrastructure is crucial for widespread adoption of EVs. Maintaining that the availability of charging stations is a fundamental aspect of the enabling environment for an EV industry to thrive.

“But, there is a chicken-and-egg conundrum since companies are not likely to invest in charging infrastructure until there’s a critical mass of EV drivers. Equally individuals will be reluctant to buy EVs until there is a reasonable recharging infrastructure,” she noted.

Secondly, she said that, the cost of EVs, which are still relatively high compared to conventional vehicles, remains another significant barrier and urged for these costs to be reduced through local manufacturing, targeted investment in R&D, or collaborations with industry leaders from around the world to achieve economies of scale?

Thirdly, she said that to attract both domestic and foreign players in the sector, it will be critical to have a supportive regulatory framework of consistent policies, standards and regulations that are aligned with international best practices that encourage investment and innovation.

Further, she said that to advance EV technology, there is need to equip the workforce with the education and skills necessary to support the growth of the industry.

“A skilled workforce can fill the employment opportunities generated by the growth of the sector, positioning Nigeria as a regional hub for manufacturing, maintenance and technology development,” she submitted.

Remmy Nweke/DoP

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