[Adesewa]

   
 A memorandum of Understanding ( MoU ) has been signed by a firm , Oldang International Limited , with Chinese companies, Halkoff Logistics and Hornson Development Limited , to produce solar and electric powered vehicles in Nigeria .

Oldang electric and solar powered vehicle is an automobile propelled by one or more electric motors , using electrical energy stored in rechargeable batteries or another energy storage device.
“ What we are doing now is that we want the value chain to create employment opportunities, which is very key to what we are doing . The machines are coming from China while the time frame will be three months. What we are trying to do is that the first phase should start immediately, meaning that the other parts , like the battery section and the solar panel section , will start coming . We are likely going to take off by January 2018 .
“ The first phase will create 550 jobs. Indirectly , it will create 50 , 000 jobs because we have people that are going to operate the charging stations, the repairs , the dealership, sales and those along the value chain . ”
Asked if it would send the popular tricycle operators out of the market , he said : “ We are not fighting or competing with anybody . We are looking at how we can reduce emission and fare , which is key . It will also reduce accidents on the road because doors are attached . Definitely and gradually , a lot of people will go for the best option. ”