Only three out of 10 households in Cabo Verde own a private car. However, due to the country’s improving economic situation and an increasing demand for individual transport, it is expected that the motorization level will steadily rise in the coming years. Cabo Verde’s government has identified the promotion of electric vehicles as a strategy for reducing road transport-related greenhouse gas emissions as well as increasing the share of renewable energy in the energy mix, from 20 percent at present to 100 percent by 2040.
This NAMA Support Project (NSP) willsupport the government in further developing and implementing its strategy for the promotion of electric vehicles in order to reach a significant market share of total vehicle purchases. By the end of the NSP in 2024, five percent of the newly registered vehicles are expected to be electric, and a new electric bus line should be in operation. The NSP will also help to install approximately 175 charging stations.
In order to address one of the main the financial barriers, specifically the high cost of electric vehicles, the NSP will establish an Electric Mobility Facility (EMF). The EMF will provide a rebate covering a significant share of the incremental cost of electric cars and busses to first-mover individuals, companies and institutions. Given the small size of the national market, this is expected to have a strong demonstration effect and spur interest in electric mobility uptake. It is expected that the market share of electric vehicles will continue to grow after the end of the project.
The financial component will be complemented by the creation of a legal and regulatory framework for electric mobility, raise awareness among the general public, introduce training opportunities for mechanics and create an MRV system for road transport-related GHG emissions. With these combined measures, Cabo Verde will evolve to be a model for electric mobility transformation in West Africa and across the wider small island developing state context.