Utopia Technology has unveiled Ethiopia’s first integrated electric car financing system, the “Utopia Green Fund,” alongside a dedicated app designed to facilitate access to electric vehicles. This groundbreaking initiative aims to promote sustainable transportation and make electric cars more accessible to the Ethiopian public.
The Utopia Green Fund combines interest-free lease payments with savings options, allowing customers to finance their electric vehicle purchases in a way that is both affordable and practical. The app is designed with the goal of enabling 10,000 customers to own electric cars while also planning the establishment of electric vehicle battery charging stations across the country.
Adonic Werku, Founder and Managing Director of Utopia Technology, emphasized that the financing system is structured to accommodate all sectors of society. “We are facilitating interest-free car leases for up to 10 years, making it easier for Ethiopians to transition to electric vehicles,” he stated.
To enhance the payment process, Utopia Technology has partnered with the Commercial Bank of Ethiopia and Tele Birr, enabling seamless digital transactions for customers. This collaboration is expected to streamline payments and improve the overall customer experience when purchasing electric vehicles.
In addition to financing, Utopia Technology is also launching “Utopia Automotive,” a service focused on the assembly, supply, and repair of electric vehicles powered by renewable energy. Furthermore, plans are underway for “Utopia Electric Car Charging,” which aims to construct charging stations utilizing renewable energy technology.
The introduction of this electric car financing system reflects Ethiopia’s commitment to advancing sustainable transportation solutions. As the global demand for electric vehicles continues to rise, Ethiopia is positioning itself as a player in the green mobility sector.
The initiative comes at a crucial time as countries around the world are increasingly recognizing the importance of reducing carbon emissions and promoting environmentally friendly practices. By investing in electric vehicle infrastructure and financing options, Ethiopia aims to create a more sustainable future for its citizens.
Utopia Technology plans to launch “Utopia Electric Car Taxi,” further expanding its impact on the transportation landscape in Ethiopia. This initiative will not only provide residents with convenient transportation options but also contribute to job creation within the green economy.
As Ethiopia embraces this transition toward electric mobility, it is essential for all stakeholders—government officials, businesses, and consumers—to work together to ensure a successful implementation of these initiatives. By fostering an environment conducive to innovation and sustainability, Ethiopia can pave the way for a cleaner and more efficient transportation system.
Source: Capital
