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Proposed taxes in new Finance Bill will stagnate growth of e-mobility
According to a recently published white paper titled, 'Electrifying Kenya’s Public Transport', the number of electric vehicles grew from 796 in 2022 to 4047 in 2023.
While addressing the US-Kenya Business Forum during his recent historical visit to the USA, President William Ruto announced grand plans to waive taxes on the first 100,000 2-and 4-wheeler electric vehicles that will be locally assembled.
While this pronouncement is welcome, its legal framework must be well thoughtout for the benefit of existing assemblers and future new entrants in the sector. Indeed, it is important to note that the assembly of electric motorcycles and buses is an ongoing business in Kenya.
