Vice President, Dr Mahamudu Bawumia, has revealed that a Ghanaian business plans to develop an electric car assembly factory in the nation.

Though he didn't mention the name of the company, he noted that the company would commence operations in 2024.

Speaking at the NPP International Women's Conference on Saturday, June 10, 2023, Dr Bawumia said the electric vehicle assembling plant will add to the vehicle manufacturing companies producing in Ghana.

Now, Volkswagen, Kantanka, Toyota, Peugeot, Nissan, KIA, Hyundai, and Sinotruk are manufacturing vehicles locally.

"We had no domestic automotive sector for vehicle assembly or manufacturing but what did we do about that, the new automotive sector development policy has resulted in VW, Sino Truck, Kantanka, Toyota, Peugeot, Nissan, KIA, Hyundai, they are all producing in Ghana today," Bawumia said.

"Interesting piece of news is that a Ghanaian company is also in the pipeline to build an assembling plant for electric vehicles next year. That will be the first in West Africa," he stated.

It would be recalled that President Nana Addo Dankwa Akufo-Addo said government would soon roll out an asset-based vehicle financing scheme to stimulate demand for domestically assembled vehicles.

The financing scheme will afford Ghanaians the opportunity to purchase vehicles under the Ghana Automotive Development programme.

He gave an assurance that government would provide all assistance for the achievement of the target of assembling 1.5 million vehicles per year by the end of 2023 as projected by the Association of African Automobile Manufacturers.