A Kenyan firm, Aquilastar Corporate Investment, backed by a United Arab Emirates (UAE) investor, has broken ground on a Sh19.37 billion ($150 million) electric vehicle (EV) assembly and accessories plant at KenGen’s industrial park in Olkaria, Naivasha.
Aquilastar aims to produce 50,000 EV units annually and create 13,000 direct and indirect jobs with financial backing from the UAE-based Alsayegh Group, a conglomerate with interests in technology, financial services, education, automotive, and oil and gas.
“For Aquilastar, Olkaria is more than a factory site—it is the launch pad of a new mobility future for Kenya, Africa, and the world,” said Abdulatif Alsayegh, chairman of Aquilastar, during the ground breaking event at the weekend.
The EV plant will be located within KenGen’s Green Energy Park, which covers 845 acres at the Olkaria geothermal field. The park is designed to host industrial and non-industrial activities, including offices, data centres, research and development hubs, hospitality facilities, visitor experience centres, and commercial services.
Mr Alsayegh said the plant will produce up to 50,000 units annually, directly employing 3,000 Kenyans and creating another 10,000 indirect jobs while developing a local supply chain for EV accessories.
Aquilastar Managing Director and CEO, Barbara Modani Alwena, noted that EV adoption offers Kenya an opportunity to cut its heavy reliance on fossil fuel imports, which cost between Sh600 billion and Sh700 billion annually.
“This is not just unveiling a new product but igniting a bold vision for the future of mobility, sustainability, and innovation in our country,” she said.
KenGen CEO Peter Njenga said the EV plant would help drive Kenya’s industrialisation agenda.
“This is not simply breaking ground for a new plant. We’re breaking ground for a new chapter of industrialisation in Africa. A chapter powered by clean energy, durable jobs, and local innovations,” he said.
He assured investors that KenGen is rehabilitating its installations to guarantee uninterrupted supply, with a target of generating 1,500 megawatts by 2034, of which 834 megawatts will come from geothermal.
Data shows Kenya’s registered EV population nearly doubled to 5,294 by May 2025, up from 3,753 in December 2023. As of December 2024, there were 4,193 registered EVs, with the figure expected to rise to 9,047 by the end of 2025.
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