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Global Sales of Electric Vehicle to Rise by 35% in 2022: Report

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The global sales and shipments of Electric Vehicles (EV) are expected to rise by 35 percent in 2022, a US-based research agency and consultancy, Gartner has said.

This comes as a result of the United Nations’ COP26 zero-emission vehicle transition council’s resolution that vehicle manufacturers will commit to selling only non-carbon-emission vehicles by 2040, while governments are to introduce regulations and incentives to help the industry’s growth.

The research director at Gartner, Joseph Davenport noted that nearly 6.4 million EV cars are expected to be sold this year, 1.6 million more than 2021, as the automotive sector prepares for decarbonisation in transportation, increasing EV production activities.

According to him, cars will account for 95 percent of the total EV sales in 2022, while the remaining percent will be split between buses, vans and heavy lorries.

With the restrictive emissions and fuel efficiency regulations, the manufacturers have had no choice but to focus on vehicles that are more environmentally friendly.

German-based vehicle manufacturers such as Volkswagen – whose 12 brands include Audi, Porsche and Skoda – has revealed that it is investing €35 billion ($39bn) into the global shift to EVs. It expressed ambitions to become the world’s largest electric car maker by 2025.

Luxury car brand, Bentley, made the disclosure that it is pumping major investments towards becoming a fully carbon-zero company. Bentley also stated that its first EV will be ready by 2025.

Another German-owned car maker, Daimler, parent company of Mercedes-Benz, last July, had said its brand would be all-electric by the end of the decade, where market conditions allow.

The same goes for luxury Italian marque Lamborghini which also announced in January this year, that it is devising its first fully electric model. The company’s chief executive Stephan Winkelmann also said it plans to introduce the model by the end of the 2020s.

Swedish carmaker Volvo also noted that it would be fully electric by 2030. Jaguar Land Rover made same commitment, saying its luxury brand Jaguar will go all-electric by 2025 as it aims to become a net-zero carbon business by 2039, a year before the COP26 council deadline for cat manufacturers.

The United States’ largest car producer, General Motors, in January last year had also unveiled plans to eliminate petrol and diesel light-duty cars, including SUVs, by 2035.

Electric vehicle maker, Tesla, which is the world’s forerunner in EV production and sales, has projected that its vehicle deliveries would comfortably grow by more than 50% year-over-year in 2022. According to analysts at ARK Invest, Tesla could produce about 5 to10 million vehicles a year by 2025.

China’s directive to manufacturers that EVs make up 40 percent of all sales by 2030, will allow the country account for a 46 percent global EV shipments in 2022. According to Gartner, China is expected to ship about 2.9 million EVs this year, followed by Western Europe (1.9 million) and North America (855,300).

To speed up the transition to EVs, manufacturers will have to address several factors such as lowering the price of EVs, recycling batteries and offering more choice to consumers.

“A major issue that must be addressed is lack of fast-charging availability for home and public charging,” Gartner noted.

“Utility providers will need to increase their investments in smart grid infrastructure to cope with the growing consumption of electricity,” he added.

As the number of EV production rises, Gartner forecasted that the number of global public EV chargers will rise to 2.1 million units in 2022, up from 1.6 million units in 2021.

Despite a global push for the growth of ECs in the automotive industry, the global semiconductor shortage and supply chain disruptions will affect the industry’s efforts to decarbonise, analysts say.

“The continuing shortage of chips will impact the production of EVs in 2022 … while shipments of vans and lorries are currently small, those shipments will grow rapidly as commercial owners see the financial and environmental benefit of electrifying their fleets,” Mr Davenport said.

Already, top EV maker, Tesla had said it is facing supply issues that could affect its business.

“Our own factories have been running below capacity for several quarters as supply chain became the main limiting factor, which is likely to continue through 2022,” the California-based company said.

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Tesla CEO Elon Musk Given 22 Days Ultimatum by A U.S Court to Acquire Twitter

Following Elon Musk’s decision to opt-out of the $44 billion Twitter acquisition deal, a Delaware Court of Chancery in the United States has ordered the Tesla CEO to acquire the micro-blogging platform within 22 days.

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Following Elon Musk’s decision to opt-out of the $44 billion Twitter acquisition deal, a Delaware Court of Chancery in the United States has ordered the Tesla CEO to acquire the micro-blogging platform within 22 days.

The judge presiding over the case made the order following Musk’s decision to proceed with the acquisition of the social networking company 12 days before the court trial on the lawsuit Twitter filed against him. 

Musk had earlier opted out of the Twitter deal where he accused the platform of thwarting his information rights by not providing enough data on fake accounts on the platform.

Musk claimed in a tweet that Twitter is “20% fake/spam accounts” and suggested Twitter’s filings with the Securities and Exchange Commission were misleading.  The company had earlier disclosed that only less than 5% of its daily active users are spam accounts.

However, the Tesla CEO wasn’t convinced by the number of bots accounts twitter claimed were on the platform. He, therefore, insisted that his acquisition of the social media company cannot move forward until he sees more information about the prevalence of spam accounts.

It should be recalled that on May 27, 2022 Investors King reported that

Twitter also displeased by Musk’s action filed a lawsuit in the Delaware Court of Chancery, urging him to complete his $44 billion takeover of the social media company where it accused him of “outlandish” and “bad faith” actions that have caused the platform irreparable harm and “wreaked havoc” on its stock price.

Recently, during a court hearing after the judge at the Delaware court had given Musk a 22 days ultimatum, he asked that Twitter drop the initial lawsuit scheduled for October 17, but the social media company insisted that it would keep the litigation alive until the deal was concluded.

Musk had made the request stating that the lawsuit should be stepped down to enable him to raise the needed capital for the acquisition ahead of the October 28 deadline.

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Fund Raising

Purple Elephant Ventures Has Raised $1 Million Seed Fund to Modernize Africa’s Travel Sector

Purple Elephant Ventures (PEV) has raised $1 million in pre-seed funding to boost innovation in Africa’s tourism.

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Purple Elephant Ventures

Kenyan-based venture studio with a focus on Tourism, Purple Elephant Ventures (PEV) has raised $1 million in pre-seed funding to boost innovation in Africa’s tourism.

The venture studio seeks to achieve this goal by building creative startups from scratch focused on leveraging technology to scale tourism, as it plans to build about four startups at the intersection of travel, climate, and technology, every year.

Investors who took part in this recent $1 million pre-seed funding round include Klister Credit Corporation, a Canadian investment firm, and The Untours Foundation.

Also Angel investors such as Fede Pirzio-Biroli, founder of Playfair Capital; Ian McCaig, former CEO of lastminute.com and M-Kopa board member, Anthony Rock, president of Rock Impact Capital; Rich Hoops, executive director at Impact Capital; Jim Villanueva, managing director of Global Partnerships Social Venture Fund, and Helena Riese Harstad, co-founder and chair of the Optimizer Foundation.

Speaking on the recent seed raised and the startup mission, Purple Elephant Ventures CEO Ben Peterson said, “I think what’s exciting for the team is all of the possibilities to digitize tourism for a greener future. And one of the great advantages of working in a studio is that we get to play around with new innovative ideas all the time.

“We have what we call ideation sessions, where we have very structured conversations around examining the tourism industry from the perspective of building businesses that will help reduce the carbon footprint of Africa’s tourism industry.”

He further disclosed that despite the uncertainty in the tourism sector during the Covid pandemic period, the Purple Elephant Ventures team did not slow down on its efforts, rather they went on to launch two startups during that period, which are Elephant Bookings, a software service (SaaS) product, and Nomad.Africa, a content-to-commerce magazine.

Purple Elephant Ventures seeks to enable startups in the tourism sector raise enough capital to facilitate sustainability, as well as have an online presence to aid global scale.

Founded in 2020, the company’s mission is To build a portfolio of innovative companies that unlock the unrivaled economic power of tourism to protect and grow Africa’s natural capital.

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Telecommunications

MTN Celebrates Customer Service Week by Gifting Subscribers Airtime Top-up

MTN is celebrating its customer service week by gifting Airtime top-ups to its loyal customers through engaging activities on all its social media platforms.

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MTN

Mobile telecommunications giant MTN is celebrating its customer service week by gifting Airtime top-ups to its loyal customers through engaging activities on all its social media platforms.

The telecommunications giant is celebrating this year’s edition with exciting activities which include online competitions, trivia quizzes, giveaways, and lots more.

To participate in the Customer Service Week activities, subscribers are required to follow all the company’s social media accounts where all activities and information for the week will be communicated, Investors King understands.

MTN’s theme for this year 2022 Customer Service Week is “No US without U” where it is appreciating the loyalty of its customers and partners of the brand for over 20 years of partnership and loyalty.

Customer Service Week is an international celebration of the importance of customer service and of the people who serve and support customers on a daily basis.

The goal of the event is to emphasize the importance of customer satisfaction and also listen to customers as critical components of building a business. During this week customers are given different types of packages, such as gifts, rewards, and other exciting offers.

Speaking on MTN’s “Customers Service Week” and its commitment to customers, the Chief Customer Service Officer Ugonwa Nwoye said “Our customers mean so much to us, they are the reason we are thriving for more than two decades. This is why we will continue to work tirelessly to ensure our customers stay happy and satisfied.”

Customer service has been described as a core means of building brand loyalty and encouraging customer satisfaction. According to Forbes, It is reported that around 70% of American customers report they’re willing to spend more money with companies that provide excellent service.

In other words, a company’s excellent customer service can be one of the most powerful customer retention tools they will have.

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