Connectnigeria Articles

Except something else comes up, the future of the world is in sophisticated technology. The desire to achieve more with the least possible effort has always been the drive of man; cost effectiveness, energy conservation, efficient input utilization, high output maximization etc. Every sphere of man’s life is tending towards more and more technological advancement, from fashion and tailoring through the usage of hand sewing methods, to electric machines, up to the progression from firewood to electric burners and microwave ovens. Banking, entertainment, education industries etc. haven’t been left out, neither has the Automobile industry. The global innovation of electric vehicles has taken some parts of Asia, Europe and America by storm; China, Germany Norway etc. Research has even shown that, Electric vehicles in Norway have reached 52% market share (which is a new record).[1] Given that Africa-especially Nigeria, has always provided a huge market for the automobile industry, it is necessary that preparations for the adoption of this innovation be in top gear. This is what makes Tomoto Innovations Nig.Ltd not only special, but unique in Nigeria. And this uniqueness is what makes it to rank in the ConnectNigeria’s Top 100 SMEs. Tomoto Innovations Nig Ltd is the leading electric vehicle company and transportation provider in the whole of Nigeria and other African nations. Its chains of Electric vehicles (EV) Business ranges from electric car sales, charging stations and transportation system for corporate entities and private individuals. The goal is to move Africa into the EV technology and at the same time, help save our environment from climate change. Tochukwu Nwafor seeks to be a problem solver for the Nigerian and African community at large when it comes to the issue of Electric Vehicles. The problems are not only transportation problems but also, climatic, given that the burning of fuels increases the toxicity of the climate; air pollution, and the negative effects of certain gaseous emissions on the ozone layer- Global warming. These electric vehicles are powered by different batteries of various capacities, and as against the ‘topping up’ of tanks with fuel or gas, power or charging stations for the batteries are the replacements for fuel stations. There is high optimism that these electric vehicles will be adopted on a massive level, though there are quite a number of factors that would play significant roles in the African continent for this mass adoption to take place. Some of these include the stability of electrical power, cost comparison with fuel consuming cars, the availability of models, the availability of charging infrastructures, the speed and time of charging, gas prices, battery supply, prevailing policies and economic situation etc.[2] The preceding factors are part of what Tomoto Innovations Nig. Ltd. Also intend to deal with. Given how enormous this endeavor is, it is almost normal to assume that the challenges that come with it, will be of great enormity too. One of these enormous challenges is associated with the huge capital intensive demands of this venture. For example, The United Kingdom has recently put up plans to put in motion, a fund of £400 million, for Electric Vehicles Charging Infrastructure. China’s top Electric Vehicle manufacturer recently partnered with Generate Capital to launch a $200 million Electric Bus Leasing Program. This implies that there is a huge need for investors in this business in Nigeria and Africa; the void of the presence of these investors has been the greatest impediment to Tomoto Innovations Nig. Ltd.[3] Electric Vehicles are being adopted faster than many think; the ‘future’ is fast approaching. As a matter of fact, The CEO of Shell recently called for the UK to Ban Gas/Diesel car sales as soon as possible. Nissan targets to sell one million electric vehicles annually by 2022.[4] Something remarkable is happening already in the automobile industry, and following Global trends, Tomoto Innovations Nig. Ltd. is a commendable place to invest in. the future might as well not be so far away; the future is possibly here already. Sources: Tomoto