Nigeria’s electric vehicle push is taking a more ambitious turn as Hybrid Motors Nigeria moves beyond assembly plans into research, innovation, and vehicle financing infrastructure designed specifically for African markets.
The company, which recently secured about $95 million in investment commitments for EV manufacturing and charging infrastructure, says its next focus is the establishment of what it describes as Africa’s first dedicated electric vehicle research and development centre alongside a new financing platform that will offer single digit interest loans for vehicle ownership.
Speaking with journalists, Chief Executive Officer of Hybrid Motors Nigeria, Jubril Arogundade, said the company is positioning itself not only as a vehicle manufacturer but also as a technology and mobility innovation company capable of solving structural challenges slowing EV adoption across the continent.
“At the centre of this partnership is research and development. We are not just assembling vehicles. We are building a proper R&D ecosystem in Nigeria where vehicles can be designed and adapted specifically for African roads, climate and mobility realities,” Arogundade said.
The R&D centre is being developed in partnership with Launch Design Shanghai, a Chinese automotive engineering company with experience working with global EV manufacturers including BYD during its early years.
According to Arogundade, the centre will focus on battery optimisation for African weather conditions, charging efficiency, vehicle durability for local road infrastructure, and software systems tailored for African mobility patterns.
The initiative marks a shift from the conventional Semi Knocked Down (SKD) assembly approach that dominates much of Nigeria’s automotive sector. Instead, Hybrid Motors is betting on deeper technology transfer and local engineering capability as the foundation for long term competitiveness.
The company’s manufacturing facilities in Lagos and Abuja are projected to reach a combined annual production capacity of 70,000 vehicles over time, with the Acely brand positioned as Nigeria’s homegrown EV platform.
Beyond manufacturing, Hybrid Motors is also launching a financing platform aimed at tackling one of the biggest barriers to vehicle ownership in Nigeria and across Africa: access to affordable credit.
According to the company, the platform will provide consumers and businesses with financing options at single digit interest rates, making electric vehicles more accessible to middle income earners, logistics operators, ride hailing drivers and fleet businesses.
The company believes the financing initiative could become a major catalyst for EV adoption, especially in markets where high interest rates and limited automotive credit have historically constrained vehicle purchases.
“People may want EVs, but affordability remains a challenge. We are building a platform that allows people to own vehicles through affordable financing structures with single digit interest rates,” Arogundade said.
Industry analysts say the financing layer could prove as important as the manufacturing itself, particularly in Africa where vehicle penetration remains relatively low and automotive lending ecosystems are underdeveloped.
Hybrid Motors is also investing about $20 million in charging infrastructure, with plans to deploy 110 mega charging stations across Lagos and Abuja over the next four years.
Each station will feature 12 charging bays capable of servicing up to 24 vehicles simultaneously, with full charging expected in roughly 30 minutes.
Construction has already commenced on the company’s production facilities, while prototype charging stations are under development in Lagos ahead of commercial rollout.
If executed successfully, the combined strategy of manufacturing, R&D, financing and charging infrastructure could position Hybrid Motors as one of the continent’s earliest vertically integrated EV mobility companies.
