Addis Ababa, October 21, 2024 (FBC) – Ethiopian Investment Holdings (EIH) and Dodai Manufacturing Plc., Ethiopia’s leading electric mobility company, signed strategic partnership aimed at accelerating the growth of sustainable transportation in the country.
The collaboration aims to roll out 100 battery swap stations in Addis Ababa within the next 12 months and expand to 300 stations, including Sheger City, over the next 3 years, significantly reducing emissions, enhancing urban mobility, creating 100,000 jobs for the youth, and positioning Ethiopia as a leader in green transportation.
During the event, Dr. Brook Taye, CEO of Ethiopian Investment Holdings, and Yurna Sasaki, Founder and CEO of Dodai, signed a Memorandum of Understanding (MOU), formalizing their commitment to developing electric mobility infrastructure tailored to Ethiopia’s unique needs.
“This partnership is a critical milestone for reshaping Ethiopia’s transportation sector,” said Yura Sasaki.
“Our goal is to scale up to 100 stations within 12 months, with continuous optimization based on real-time usage data to provide the most efficient service. Through our proven battery swapping model, we aim to make e-mobility accessible to everyone in Addis Ababa and Sheger City within 3 years, but this is just the beginning of our journey.”
Speaking at the event, EIH CEO Dr. Brook Taye said, “At Ethiopian Investment Holdings, we remain steadfast in our commitment to investing in initiatives that not only deliver job creation but also contribute to Ethiopia’s Climate Resilient Green Economy. By strategically diversifying into investments in alternative energy sources and scalable ventures, we are positioning our portfolio like EEU (Ethiopian Electric Utility) for sustainable long-term financial returns.“
Dr. Brook added, “This approach not only secures sustainable returns but also establishes alternative energy infrastructure to EEUs distribution grid. Moreover, we are proud to drive and support innovative ventures like Dodai, who bring solution to the challenges in the transportation sector which aims to revotutionize urban transportation and enhance sustainable mobility across Ethiopia.”
The partnership focuses on building a battery swap network for electric motorbikes, with a goal of expanding to include electric buses in the future.