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May 22, in the millet fifteenth anniversary of the strategic new conference, millet car officially released its first SUV models – millet YU7. new car is expected to be officially listed in July this year, and clear to “the strongest domestic challenger” identity, against the Tesla Model Y, showing the ambition of millet to enter the intelligent pure electric SUV market. Tesla Model Y, showing Xiaomi’s ambition to enter the intelligent pure electric SUV market. Xiaomi YU7 continues the brand’s signature sporty design language and realizes a number of breakthroughs in intelligent technology and power performance. At the press conference, Lei Jun, founder, chairman and CEO of Xiaomi Group, repeatedly mentioned the keyword “all standard equipment”, highlighting the new car’s high starting point configuration standards. Including 800V silicon carbide high-voltage platform, V6s Plus Xiaomi super motor, the new sky screen, end-to-end intelligent driver assistance system, LiDAR, NVIDIA Thor platform (700TOPS arithmetic power), adjustable damping system, and long range program, etc., all of which are standard in the whole system. In terms of positioning, Lei Jun said that the target user group of YU7 is the “elite of the times” who love to drive, but also pursue spacious space and advanced luxury experience.YU7 will continue the advantages of handling and intelligent experience established by Xiaomi SU7, and evolve again in the power performance and intelligent technology level, and further improve the spatial performance and luxury perception to satisfy the higher class. It will be further enhanced in terms of spatial performance and luxury perception to meet the comprehensive travel needs of higher-end users. Dimensions, YU7 body length, width and height of 4999mm, 1996mm, 1608mm, the wheelbase reached 3000mm, positioned as a medium and large pure electric SUV. On the outside, YU7 continues Xiaomi’s design aesthetics, equipped with a new evolution of the “Mi headlights”, the front hatch and bumper with real ventilation openings to strengthen the performance-oriented. The entire vehicle is equipped with 10 sets of penetrating air ducts and 19 air vents, and through more than 40 aerodynamic optimization measures, the wind resistance coefficient is controlled at 0.245Cd, demonstrating excellent engineering tuning capabilities. In terms of exterior colors, the new car was initially launched in three colors, and a total of five exterior colors will be launched at a later stage. YU7 is also quite ingenious in its detail design. Its front end adopts an all-aluminum clam front cover, and the long front end shape signals a good front trunk storage capacity. Meanwhile, the vehicle supports UWB ultra broadband communication technology, which supports sensorless unlocking of doors and front trunk operation, further enhancing the smart and convenient experience. On the side design, YU7 presents a strong European high-performance SUV style, with a sliding back tail line and tilted A-pillar to optimize wind resistance performance. It is worth mentioning that the new car is equipped with electric inward-flipping door handles, which automatically pop up when approaching and close automatically after closing the door, forming a differentiated evolution from the semi-hidden scheme previously adopted by SU7. Interior, compared to the previous SU7 cabin style, YU7 in the design language and functional layout of the new thinking, especially after the introduction of the “sky screen”, to build a fusion of science and technology and a sense of immersion in the cabin experience. YU7 is equipped with Xiaomi’s independently developed Xiaomi HyperVision panoramic display system, which adopts panoramic curved projection technology, with the entire screen width reaching 1.1 meters and a resolution as high as 108PPD, achieving a super retina-level display effect. The system is based on the new PHUD depth-of-field head-up display program, which pushes the display information to the far end of the field of vision, effectively reduces the risk of driving line-of-sight deviation, and creates a futuristic sci-fi atmosphere. Unlike the passenger screen commonly found in traditional cockpits, YU7 intentionally cuts out this configuration to maintain the symmetrical aesthetics of the center console, so that the occupant’s eyes are naturally focused on the “sky screen”, further enhancing the immersive interactive experience. In addition, the car’s three main screens all use Mini LED display technology, more detailed picture quality, more responsive, Xiaomi HyperVision system to support the dynamic combination of five types of information cards, and the rear is equipped with a movable control screen, support vehicle control, navigation and audio-visual function adjustment. The interior has also been optimized in terms of color scheme and details, offering three color schemes. The steering wheel style has been redesigned, and on the basis of retaining the functional modules, the button layout is more concise, and the overall sense of technology has been enhanced. In terms of comfort, the YU7 has a tendency to be on par with MPV standards. The front row is equipped with dual zero-gravity seats that support one-touch recline with 10-point seat massage function. The seat structure consists of 12 layers of material, which is ergonomically fitted to provide better support and wrapping experience. In terms of space performance, calculated by the 1.88-meter height experience standard, the headroom in the rear row is 77mm, and the knee space is 73mm, and it also supports 100° to 135° stepless electric adjustment, providing a higher degree of comfort for long-distance rides. Excellent storage capacity. Xiaomi YU7 is equipped with a 141-liter front trunk, and after the rear seats are put down, the maximum storage space of the whole car can be expanded to 1970 liters, which fully meets the needs of diversified scenarios, such as family travel, city commuting or long-distance travel. Through the systematic integration of intelligent technology, spatial comfort and practical functions, YU7 shows Xiaomi’s in-depth understanding of the high-end electric SUV market at the interior level, and injects strong product support for its upcoming market competition. As an intelligent electric vehicle model focusing on high performance and long range, YU7 fully benchmarks the industry’s leading standards in terms of powertrain, range and safety features, demonstrating strong product competitiveness. Xiaomi YU7 is equipped with Xiaomi’s self-developed V6s Plus super motor,

On April 17, 2025, Our Company ECAI Group’s new electric vehicle showroom in Addis Ababa, the capital of Ethiopia, officially commenced operations. The showroom aims to promote the transition to green transportation in the East African region, integrating B2B wholesale and B2C retail services, and specializing in the display and sale of electric vehicles from brands including BYD, Dongfeng, Changan, Kia, and Toyota. The showroom is situated in the heart of Addis Ababa’s central business district, spanning over 500 square meters. It features a modern design that blends technological innovation with practicality, offering visitors an immersive experience. The showroom showcases a variety of popular electric vehicle models, including sedans and SUVs, catering to the diverse needs of different customer segments. Among the highlights are BYD’s latest all-electric models, Dongfeng’s new energy vehicles, and Changan’s intelligent electric SUVs, which have attracted significant attention. ECAI GROUP —— Smart Bonds, Future Roads ECAI, symbolizing Ethiopia-China AI-driven Electric Vehicle, serves as a transnational bridge of intelligent mobility spanning Asia and Africa. We harness technology as a connector and wheels as a medium, seamlessly integrating Chinese innovation with Ethiopian passion, empowering every journey with the transformative power of AI-driven electric vehicles.   Founded in Nanjing, China, ECAI GROUP has dedicated over a decade to building a global automotive ecosystem: Strategic Global Hubs: Strategically located bonded warehouses in Djibouti, Dubai, Panama, and Slovenia establish a cross-continental logistics network, ensuring efficient delivery of Chinese smart manufacturing to the world. Elite Brand Partnerships: Collaborating with 30+ industry leaders including BYD, TOYOTA (China), DONGFENG, KIA (China), NETA , and CHANGAN, we curate AI-driven electric vehicles tailored for Ethiopia’s evolving mobility needs. End-to-End Solutions: From factory floors in China to end-users in Ethiopia, our integrated services cover procurement, customs clearance, warehousing, and after-sales support, serving 1,000+ clients across 20+ countries. In 2025, ECAI GROUP and Etiopikar will launch multiple China-Ethiopia Smart Mobility showrooms in Addis Ababa. These hubs will feature digital interfaces, immersive test drives, and localized services, showcasing Chinese innovation and the transformative potential of bilateral tech collaboration. Mission: Pioneering smart mobility along the Silk Road, connecting China and Ethiopia through intelligent innovation. Driving together toward a sustainable future. Global E-Commerce Platform: Online + Offline, Global Direct Supply ECAI GROUP Makes Car Buying Easier & Smarter. Factory Direct, Better Prices Partner directly with 30+ Chinese automotive brands. No middlemen. More savings for you. Overseas Warehouses, Lightning-Fast Delivery Warehouses in Djibouti, Dubai, and more ensure quick customs clearance and precise delivery. Ethiopian customers get their cars in as fast as 10 days. One-Click Online Shopping Order on ecaicar.com, track your vehicle’s journey in real time, and enjoy doorstep delivery. Full After-Sales:  Trusted Support, Zero Worries ECAI GROUP Protects Your Ride. Parts On Demand, Post-Purchase Assurance 1,000+ common parts stocked in China, Djibouti, and Ethiopia. 48-hour emergency response guaranteed. Chinese Engineers, Expert Solutions Skilled technicians handle repairs, maintenance, and technical guidance, resolving all complex issues swiftly. Flexible Plans, Tailored for You Options for customization warranties (available upgrading to 5-year full coverage). VIP clients enjoy 24/7 priority service.

Reprinted from China’s Xinhua Daily Title of original article: Make the world love Chinese cars more —— Aicarglobal build overseas automobile sales platform “Hello Africa!” at 2:25 a.m. Beijing time on March 24, Leon, founder of Nanjing Aicar Information Technology Co.Ltd shared the new positioning in his WeChat circle of friends. On that day, he arrived in Addis Ababa, the capital of Ethiopia, and in the following week, he will visit the largest local car dealers and visit the company’s overseas warehouse in the Republic of Djibouti. Aicar was founded in Jianye District in April last year and is mainly engaged in the export of automobiles and spare parts. A computer and an Internet cable are the main tools for the enterprise to communicate with customers and link to the world. A week ago, the Nanjing office, Li Xuan and reporters to share the good news, this year, Aicar Technology almost every week from Shanghai, Ningbo and Guangzhou ports around the world, the first quarter is expected to sell about 200 units of vehicles. March 11, the enterprise also received at the same time from other places of the five car orders, Li Xuan deliberately sent a circle of friends to commemorate,. “Thank you for the partners, Aicar, let the world love Chinese cars more.” Before starting his own business, Leon was responsible for developing overseas markets at Dongfeng Motor Group. He recalled that when he first worked in Lima, the capital of Peru, in 2015, Chinese cars were poorly recognized overseas. Locals drove European and American cars in the 1930s and 1940s, Japanese cars in the 1960s, Korean cars in the 1990s, and then Indian Tata cars. “We went to visit local dealers, often the appointment was made but the other party ended up breaking the appointment or being two or three hours later than the appointed time, including a dealer in the northern city of Trujillo who talked for many rounds without making a deal, and the other party said that his business was founded by his grandfather in the 1950s, and that Chinese cars were too ‘young ‘.” “By 2019, we had opened up markets in Chile and Ecuador, and later entered Mexico and Brazil, countries that have their own auto industries. By last year, almost all mainstream Chinese auto brands had penetrated the South American market, and the market share of Chinese cars in some parts of South America had reached about 30 percent.” Li Chuan frankly said that he has experienced the complete Chinese car from the difficult to open up the market to be accepted to the process of reputation, in recent years, the country’s exports of used cars from the pilot to the full liberalization of multiple factors prompted him to select the second-hand car export track innovation and entrepreneurship. At the beginning of the venture, Aicar mainly relies on Alibaba International Station and other third-party platforms for sales. When interviewed by the reporter in September last year, the enterprise was laying out its own sales platform and overseas warehouse. In only half a year, the overseas warehouse has landed in Djibouti and Panama. “In the past, after the customer placed an order, we need to purchase from the supplier, the best-selling models do not necessarily have a car in stock, coupled with the booking and the possible congestion of the port after arrival, from the order to pick up the car, the African customers generally need to wait two to three months, and the customers in South America need to wait three to four months.” Aicar Technology Deputy General Manager Wu Ling said that after the layout of the overseas warehouse, the best-selling models can be stocked in the warehouse, customers can be delivered the next day or even on the same day of the order, but also provide value-added services such as after-sales. Compared to last year, Aicar technology single order of the number of goods did not increase significantly, but the number of customers increased significantly, almost doubling the number of orders per month, so far the enterprise’s largest customer, Djibouti’s automobile dealers have ordered more than 100 units of automobiles. Wuling analyzed that an important reason for the good sales is the enterprise’s self-built sales platform Aicarglobal.com was officially launched in the fourth quarter of last year, “the platform has accumulated more than 400 models, covering more than 50 domestic car brands, foreign customers can log on to Aicarglobal to inquire about the main parameters of China’s automobiles, but also consult to get a quote, which is equivalent to the overseas version of ‘Aicarglobal’. quotes, equivalent to the overseas version of ‘Auto Home’.” “Through channeling on YouTube and Instagram, buying keywords in Google, etc., Aicarglobal has deposited more and more users, and currently 90% of our traffic comes from the platform, which is also gradually attracting the attention of overseas consumers concerned about China’s auto changes.” There are new cars on the market almost every week in China, and Aicar employee Huang Pengjun is responsible for updating Aicarglobal at any time and sharing information about new cars in China on the platform. He explained that a Swiss customer who recently placed an order and has been representing a European car brand since the 1990s came to Aicarglobal through Google, and almost “stepped” on the website to study Chinese cars. “According to the local market, we screened through the European Union to verify the models to match the recommendation, the customer more than 200,000 U.S. dollars down payment has been accounted for, is expected to ship the goods in mid- to late April.” Since starting the business in April last year, Aicar’s team has grown from five to 11 people, with 80 percent of the business staff’s small language coverage. In the past year, Li Xuan half of the time in foreign countries “run”, he showed a thick album to the reporter, each page is a photo with local customers, the office of the bookcase, but also placed in

UAE Electric Vehicles Market Fundamentals The UAE electric vehicle market is valued at USD 2,969.72 million and is expected to reach USD 82,218.83 million by 2032, growing at a CAGR of 45.84% during the forecast period 2024-2032 The UAE is making significant efforts to develop electric vehicles (EVs). The government has set a target of having 42,000 EVs on the road by 2030 and has already converted one-fifth of government agency cars to EVs. This commitment can be seen in the country’s recognition as being among the top 10 globally in terms of EV readiness. To promote EV adoption, the UAE has invested heavily in charging infrastructure. The number of EV charging stations over the past three years is expected to continue this growth, as Abu Dhabi alone plans to establish 70.000 charging points by 2030. Authorities and private companies are also working together to improve charging technology in order to reduce charging times. In addition, there is a growing demand for electric vehicles among consumers in the country; studies have shown that around 30% of the population is considering purchasing an electric vehicle due to the desire for a “green” mode of transportation. Currently, passenger cars dominate sales, with about 95% of the market, and leasing companies are also turning to passenger cars. In addition to government initiatives, various macroeconomic factors are driving the growth of the electric vehicle market in the UAE, such as concerns over future energy security and efforts to mitigate climate change, which makes this type of transportation more attractive; rising prices of conventional fuels coupled with the need to conserve electricity is also significantly increasing the demand for these vehicles among Emiratis; furthermore, due to the booming tourism industry, sustainable tourism options are highly sought after, thus acting as another key driver for sales growth in Dubai, which is set to retain its position as the national leader till the end of 2030, closely followed by other regions such as Sharjah, which have few sustainable travel options but have a wide distribution of charging stations, mainly along the highways. UAE Automotive Market Dynamics Driver:Increasing affordability and cost-effectiveness The key driver for the electric vehicle market in the UAE is the increasing affordability and cost-effectiveness of electric vehicles (EVs). In recent years, the cost of purchasing and operating an EV has decreased significantly, making EVs more accessible to a wider range of people. The UAE is now the fourth most affordable country in the world for charging EVs, and with consumers potentially saving 88% on fuel costs by switching to electricity, the low cost is driving demand for such vehicles – and the falling price is a game changer in terms of making EVs more widely available. For example, at current gasoline and electricity prices in Dubai, the key factor in purchasing. The change in prices over the past five years has been transformative – buying and driving a Tesla Model 3 costs $0.34 per kilometer. This brings them closer in price to matching traditional gasoline-powered models. In fact, in the UAE, it’s now 40 percent cheaper to drive an electric car than a similarly sized gasoline vehicle. Government subsidies and incentives have also played a role in lowering costs for buyers in the UAE’s EV market. Among other benefits, EV owners across the country can take advantage of perks such as free parking spaces and exemptions at collection points. In Dubai, authorities are even waiving charging fees at public stations until the end of 2023. These incentives, coupled with the savings inherent in EVs that cost less to run, are increasingly making battery-powered vehicles an attractive option for consumers in the country, and the falling cost of batteries is also helping to dry down the overall purchase price – batteries are still one of the most readily affordable components of an EV’s powertrain, but they are becoming much cheaper over time, largely thanks to economies of scale brought about by mass production and a shift in the price of related technologies. economies of scale and advances in related technologies. Battery chemistry has dramatically increased energy density, which reduces the volume required, which in turn reduces material consumption and ultimately lowers unit costs. From 2010 to last year alone, the average price of a battery pack dropped by an impressive 89%. Trend: Strong focus on expanding charging infrastructure The electric vehicle charging infrastructure in the AU EV market is booming, with 800 charging stations projected by 2023, a 60% increase in one year, thanks to government support to drive EV penetration, with Dubai deploying more than 300 charging stations through DEWA. The country has both private and public charging facilities, including those in shopping malls, hotels and even homes. The UAE has ambitious goals; it aims to have 42.000 electric vehicles on the road by 2030 (government fleet) and to convert one-fifth of its official vehicles to electric. This includes programs such as Dubai’s Green Charging Post Program (offering free access until 2023) and Abu Dhabi’s free parking/toll exemption for EV owners. The private sector is also active in this area; for example, leading developers such as Maid Al Futaim are installing charging piles, while utility providers DEWA and ADNOC, are working together to expand the network in the Affiliate Electric Vehicle Market. With technology also playing a vital role – DEWA is piloting solar charging stations for the first time in 2020, and is exploring other initiatives such as faster charging solutions through partners such as SRTIP – there are many reasons to be optimistic, with the government’s continued commitment, coupled with the continued participation of businesses, and with the United Nations estimating that demand in the Emirate of Abu Dhabi alone is expected to increase by 2030. With demand in the Emirate of Abu Dhabi projected to be as high as 70,000 points by 2030, and more than half of the world’s population residing in the Emirate of Abu Dhabi according to United Nations estimates – there is no better place to

A recent market analysis by market research firm Modor intelligence revealed that new car prices in Nigeria have soared significantly as of July 2023, with new car prices rising by about 15% due to the depreciation of the naira and rising exchange rates. As a result, consumers have shifted their buying preferences to imported used cars (often referred to as Tokunbo in Nigeria), which are popular for their affordability and reliability. An increasing number of Nigerian consumers are choosing to browse, negotiate and finalize deals on a number of used car online platforms. The Nigerian used car market, currently valued at $1.14 billion, is forecast to be expected to garner a net valuation of more than $1.74 billion by 2024, growing at a CAGR of 8.9%, which is partly attributed to the rising prices of used cars. Nigeria: the largest used car market in Africa Nigeria, like other African countries, has a scarcity of rail and water transportation, and transportation is dominated by roads, with automobiles being an important means of transportation. Due to the lack of their own national automobile industry, in order to meet the needs of the domestic automobile market, a large number of cars are imported every year. Nigeria is the largest second-hand car market in Africa, and second-hand car transactions account for more than 95% of Nigeria’s automobile market, with an annual second-hand car transaction volume of about 700,000, and more than 200,000 second-hand cars imported every year, mainly from the United States, Japan, South Korea, Germany, France and other countries. Nigeria mainly imports used cars through Apapa and Lagos ports. Local best-selling used cars are Toyota, Honda, Nissan, Mitsubishi and other brands. Nigeria’s automobile market has shown strong growth in recent years. With the continuous development of the economy and the improvement of people’s living standards, more and more people start to buy cars, which makes the car ownership in Nigeria grow rapidly. According to statistics, by the end of 2023, Nigeria’s car ownership has exceeded 15 million, and shows a solid growth trend. There is no local automobile scrapping system in Nigeria, and vehicles rely on the replacement of auto parts to maintain normal operation after exceeding their service life. As long as the age of the vehicle does not exceed 15 years, it can be imported. The business of importing used cars into Nigeria is so prosperous that the importation of too many used cars has caused traffic congestion, leading to paralysis of port operations and forcing some shipping companies to transfer cars and other goods destined for Nigeria to ports in neighboring countries such as Benin or Côte d’Ivoire. In terms of tariffs, the Nigerian Customs Service (NCS) increased the import duty on automobiles from 39.45 percent to 39.62 percent in June 2023 in a bid to reduce dependence on imported automobiles and boost the domestic manufacturing sector, which has led to an increase in the price of second-hand cars by almost 100 percent. Following the implementation of the policy, it is estimated that the 2005 Toyota Corolla, which had an average selling price of N1.9 million in 2021, sold for N4 million in June 2023, while the 2004 Honda Accord, which had an average selling price of N1.6 million, sold for an average of N2.9 million in June. In Nigeria, used sedans are preferred by consumers because they are less expensive compared to SUVs and MPVs. The best-selling used sedan models in Nigeria as of June 2023 include Toyota Corolla, Toyota Camry and Honda Accord. In Nigeria, Japanese brands have a large market share, firstly, Japanese cars entered the Nigerian market earlier and took the lead in occupying a larger market share; secondly, Japanese vehicles are of excellent quality, with lower fuel consumption and better economy compared to American and German cars; thirdly, Japanese vehicles have already set up a perfect after-sales service system in Nigeria, with lower maintenance and repair costs, making them more appealing to Nigerian consumers with a low level of residential income. More attractive to Nigerian consumers with low income levels. At the same time, South Korean cars in recent years with low price strategy and perfect after-sales service, new car market share in Nigeria is also expanding, Hyundai and Kia two brands in the Nigerian new car market in the second and third place, the market share of more than 20%. Chinese Auto Brands in Nigeria With Nigeria’s economic recovery and the rise of the middle class, more and more Chinese automobile companies are targeting this potential market and seeing Nigeria as a window to open up the African market. Chinese auto brands are also slowly appearing in the Nigerian auto market, such as GAC Chuanqi, JAC and Jinbei, which are popular among African people. GAC Chuanqi’s first country to enter the African market is Nigeria, and has two dealerships. GAC Chuanqi has introduced several star models that are hot sellers in China, which have gained the recognition of the local market and consumers.JAC has nearly 10 sales outlets and a number of parts outlets in Nigeria, and adopts the localization strategy according to local conditions, providing nanny services such as on-site service and door-to-door overhaul for Nigerian industrial customers and large customers, and establishing a certain degree of brand awareness in the local market. Jinbei is a commercial vehicle as an entry point, and compared with similar light buses in Europe and the United States, the price of Jinbei is only 1/3 of the price of its similar light buses, so the models represented by Jinbei Haili have also gained good sales in Nigeria. Nigeria used car import policies and regulations 1, Left-hand drive vehicle restrictions: Nigeria only allows the import of left-hand drive vehicles. 2, Policy Adjustment: At the end of 2010, the Nigerian government extended the age of permitted imported used motor vehicles from 10 years to 15 years, and the scope is clearly defined as motor vehicles mainly used for carrying people (HS tariff item 8703.1000-8703.9000). This adjustment has led

Ghana has announced that imported electric vehicles will enjoy zero tariff for eight years from 2024. Ghana’s Minister of Finance, Ken Ofori-Atta, said that electric vehicles designed for public transportation will also be exempted from import duties for eight years as well as semi- and fully-obsolete vehicles brought into Ghana by registered electric vehicle assembly companies. The exemption is intended to accelerate the use of electric vehicles in Ghana and to incentivize local manufacturing and assembly of electric vehicles in Ghana. A growing number of African countries have eliminated or reduced import duties and taxes on electric vehicles, including Cape Verde, Ethiopia, Mauritius, Rwanda, Seychelles, Togo, Tunisia, and Zambia. Ghana joined these countries in recent days. The measure is part of several tax reductions proposed by the government. The Government of Ghana will also grant import duty exemptions on agricultural machinery, equipment and inputs, raw materials for the pharmaceutical industry and medical consumables.

Ethiopia opens the new energy era: it becomes the first country in the world to ban the sale of fuel cars! On 4 February 2024, Ethiopia’s Ministry of Transport and Logistics announced a major decision that will ban fuel vehicles from the country and restrict sales to only electric vehicles. This move makes Ethiopia the first country in the world to officially announce a ban on the sale of fuel cars. The reason behind the decision is said to be the fact that Ethiopia spends nearly $6 billion on importing fossil fuels in 2023, more than half of which is spent on fuel vehicles. Faced with the high expenses maintained by fuel vehicles, Ethiopia’s transport and logistics minister officially announced the ban on Monday. He said that petrol and diesel are currently unaffordable in Ethiopia, hence the urgent need to shift to more affordable and sustainable electric vehicles. In the future, Ethiopia will invest heavily in the construction of charging stations for electric vehicles in order to promote their popularity. It is worth noting that this ban on fuel vehicles in Ethiopia is not an ad hoc decision, but rather the result of its massive investment in energy infrastructure over the past 20 years. Although the country has achieved 97 per cent of its energy from renewable sources, it still faces the challenge of inadequate power supply. The decision has sparked a global focus on new energy sources and sustainable development. In addition to Ethiopia, the European Union, some US states, Canada, Japan, Singapore, India, New Zealand and other countries have also drawn up plans to ban the sale of fuel vehicles, which will be completed by 2040 at the latest. Ethiopia’s initiative signals the arrival of a new energy era in which countries will work together towards a greener, sustainable future.

1. Saudi Arabia New Energy Electric Vehicle and Charging Pile Market Analysis As an important player in the global energy market, Saudi Arabia has made significant progress in the field of new energy electric vehicles and charging piles in recent years. With the global emphasis on sustainable development, the Saudi government is actively promoting the popularity of electric vehicles (EVs) and stimulating market growth through a series of policy measures aimed at diversifying the energy mix. Data shows that EV sales in Saudi Arabia are expected to reach 100,000 units by 2025, with an average annual growth rate of more than 20 per cent. This growth is mainly driven by government policies, technological advancements, and rising environmental awareness among consumers. Charging infrastructure is key to the popularity of EVs. The Saudi government plans to establish extensive charging networks in major cities and transport hubs to meet the growing demand for EV charging. It is expected that more than 500 public charging stations will be built in Saudi Arabia by 2025, covering major cities and highways across the country. In addition, the installation of private charging posts is gradually increasing, and the government is providing subsidies to individuals and businesses to encourage the installation of charging equipment in homes and commercial premises, thereby enhancing the convenience of using EVs. The new energy EV market in Saudi Arabia has attracted the participation of many well-known domestic and international automakers. International brands such as Tesla, Nissan, and BMW occupy an important position in the Saudi market, while local companies such as Aljazirah Vehicles Agencies and Saudi Electric Vehicle (SEV) are also accelerating their presence and launching electric vehicle models suitable for the local market. Increased competition in the market is driving technological innovation and product diversification, providing consumers with more choices. With increasing environmental awareness and government incentives, Saudi consumers’ acceptance of electric vehicles has increased significantly. More and more people are choosing electric vehicles as their daily travelling tools, not only because of their environmental attributes, but also because of their greater advantages in terms of maintenance costs and energy use. In addition, the younger generation in Saudi Arabia is more receptive to new technologies, which has become an important driver for the EV market. Despite the promising market outlook, the Saudi new energy EV market still faces some challenges. The first is the uneven layout of charging piles, with insufficient charging facilities in some remote areas. Secondly, the overall battery technology still needs time to improve, and the range and charging speed of EVs need to be further improved. Finally, consumer awareness and acceptance of EVs need to be continuously improved, and the government and enterprises need to increase consumer confidence through publicity, education and practical experience. Overall, Saudi Arabia’s new energy electric vehicle and charging pile market is in a stage of rapid development, with policy support, technological advances and continued growth in market demand, the future outlook is very optimistic. 2. Saudi Arabia new energy electric vehicle and charging pile industry segmentation Saudi Arabia’s new energy electric vehicle and charging pile industry covers a number of segments, each of which plays an important role in the market and promotes the booming development of the whole industry. The following is a detailed breakdown by type: Electric Vehicle Manufacturing Passenger Electric Vehicles : There is a growing demand for passenger electric vehicles in the Saudi market. International brands such as Tesla, Nissan, and BMW are dominating the market, while local players such as Aljazirah Vehicles Agencies and Saudi Electric Vehicle (SEV) are accelerating the development and launch of electric models suited to local needs. Commercial Electric Vehicles (EVs): These include electric vans and electric buses. With increasingly stringent environmental regulations, the commercial EV market is also expanding rapidly, especially in the public transport and logistics sectors. Charging Facilities Public charging stations: The Saudi government plans to build a large number of public charging stations in major cities and along highways, with over 500 charging stations to be built by 2025. Private charging stations: The government provides financial subsidies for the installation of private charging stations in homes and commercial premises to promote the popularity of private charging facilities. Supporting Facilities and Services EV Repair and Maintenance: As the number of EVs increases, so does the demand for EV repair and maintenance services. Several automotive repair and service centres are expanding their EV service business. Charging Station Operation and Maintenance: Operation and maintenance of charging stations is a key component to ensure efficient operation of charging networks. Several companies provide professional charging station operation and maintenance services. Electric Vehicle Rental and Sharing: Electric vehicle rental and sharing services are emerging in Saudi Arabia, providing citizens with convenient travelling options. Energy Management Smart grid technology: The application of smart grid technology makes EV charging more efficient and reliable, and optimises the distribution and use of electricity. Energy storage system: The energy storage system plays a role in balancing power demand during EV charging and improves energy utilisation efficiency. 3. Saudi Arabia new energy electric vehicle and charging pile government policy 2030 Vision Plan Clearly sets out the goal of promoting new energy electric vehicles in the transport sector. Emphasises the development of renewable energy and electric vehicles to achieve economic transformation and environmental protection. Sets a target of deploying 500,000 charging piles by 2030 nationwide. Vehicle Purchase Incentives Provide car purchase subsidies to reduce the cost of purchasing electric vehicles. Tax relief policies to exempt EV registration fees and related taxes. Low-interest loan support to increase public acceptance of EVs. Infrastructure Development Actively co-operate with private enterprises to promote the installation and operation of charging piles. Introduce internationally renowned charging equipment suppliers to enhance the efficiency of charging services. Public-private partnership model to accelerate charging network construction and create more business opportunities. Investment in R&D Strengthen R&D investment in the EV sector and set up a special fund to support technological innovation. Encourage local enterprises and research organisations to jointly develop electric

1. Analysis of the new energy electric vehicle and charging pile market in the Philippines The Philippines is one of the largest automobile markets in Southeast Asia, with a population of over 100 million and a car ownership of nearly 10 million. However, the Philippine automobile market also faces some challenges, such as high fuel prices, severe traffic congestion, poor air quality and greenhouse gas emissions. These problems have prompted the Philippine government and people to pay attention to and demand new energy electric vehicles (NEVs). According to Statista, sales of new energy vehicles in the Philippines will increase from 378 in 2020 to 1013 in 2022, an increase of 20.17% year-on-year. This growth is mainly due to the Electric Vehicle Industry Development Act (EVIDA) passed by the Philippine government in 2022, which provides a series of preferential policies for new energy electric vehicles, such as tax exemptions, free parking, green channels, and priority purchases. In addition, the Philippine government is also promoting a modernization plan for public utility vehicles (PUVs), requiring the gradual phasing out of old jeeps and replacing them with vehicles that meet Euro standards or new energy electric vehicles. The implementation of these policies has created a favorable development environment and potential market space for the new energy electric vehicle market in the Philippines. The new energy vehicle market in the Philippines is also influenced by international and regional factors. As the world pays more attention to climate change and carbon neutrality and takes action, more and more countries and regions have imposed restrictions or bans on traditional fuel vehicles, such as China, the European Union, India, Japan, etc. These countries and regions are also the main sources of car imports for the Philippines. Therefore, changes in their policies will affect the supply and price of cars in the Philippines, thus stimulating demand for new energy vehicles in the Philippines. Analysis of the new energy vehicle and charging pile market in the Philippines shows that the market has high growth potential and development prospects, and has received support and promotion from many domestic and foreign parties. However, the market also has some challenges and risks, such as the cost and price of new energy vehicles are still relatively high, the number and distribution of charging piles are still insufficient, consumer awareness and acceptance still needs to be improved, and the threat and pressure from competitors is still relatively high. Therefore, the new energy vehicle and charging pile industry in the Philippines needs to make more efforts and innovations in terms of policy, technology, market, cooperation, etc., in order to achieve sustainable development and competitive advantage. 2. Segmentation of the electric vehicle and charging pile industry in the Philippines, Southeast Asia According to the latest market research, the electric vehicle and charging pile industry in the Philippines, Southeast Asia is showing a remarkable growth trend in 2024. Let’s take an in-depth look at the segmentation and development of this field. Electric vehicle market Market size: In 2024, the Philippine electric vehicle market is expected to reach 1.14 billion US dollars, and is expected to grow to 4.7 billion US dollars by 2029, with a compound annual growth rate of 32.73%. Vehicle types: The electric vehicle market covers passenger cars, commercial vehicles, light electric vehicles, special-purpose electric vehicles, and electric water and air transport vehicles. Technology trends: Particular attention is paid to the range, charging speed, energy efficiency ratio, and intelligence level of electric vehicles. Charging station market Number of charging stations: As of June 2022, there were 1,131 charging stations in the Philippines, of which 1,017 were slow charging stations, accounting for 89.9%, and 114 were fast charging stations, accounting for 10.1%. Type of charging stations: Charging stations are divided into DC chargers (DC) and AC chargers (AC). Investment opportunities Diversified investment opportunities: There are diversified investment opportunities in the market, including the construction of charging infrastructure in cities and residential areas. Local enterprises and start-ups: Local enterprises and start-ups will also showcase innovative products and solutions, demonstrating the vitality and potential of the electric vehicle industry in the Philippines. The electric vehicle and charging pile industry in the Philippines is in a stage of vigorous development, and government policies, technological innovation and market demand will continue to drive growth in this field. 3. Philippine new energy electric vehicles and charging piles Government policies The Philippine government has actively promoted the development of electric vehicles and charging piles in recent years to address serious air pollution problems, improve energy security, and promote the growth of a local electric vehicle industry ecosystem. The following are some of the Philippine’s policy measures in the field of electric vehicles and charging piles: Tariff reduction: Starting in 2023, the Philippines will implement a zero-tariff policy on imported pure electric vehicles, electric two-wheelers and their parts to encourage domestic consumers to purchase electric vehicles, reduce dependence on imported fuels, improve energy security and promote the development of the local electric vehicle industry. Subsidy policy: Indonesia and Thailand have decided to provide a subsidy of more than 3,000 yuan per electric motorcycle, demonstrating the determination of these two major markets to go electric. These demonstration effects are expected to drive the promotion of electric vehicles throughout Southeast Asia. Local manufacturing support: The Philippine government has given incentives to the new energy vehicle manufacturing industry and the setting up of electric vehicle charging stations to encourage the development of the local electric vehicle industry. In addition, zero tariffs are imposed on the import of parts and components for electric vehicles and hybrid vehicles, which further promotes the establishment of a local industrial chain. The Philippine government’s policy measures in the field of electric vehicles and charging piles will help promote the development of the market, improve energy security, reduce environmental pollution, and create more opportunities for local industries. 4. Southeast Asia Philippines Electric Vehicle and Charging Pile Market Trends The electric vehicle market is in a stage of rapid growth. The Philippine government’s

The market for electric vehicles is gradually developing on the African continent. The main economic power in the West African Economic and Monetary Union, Côte d’Ivoire, has seen particular momentum in recent years. With a GDP of nearly 71 billion US dollars and expected to reach 101 billion US dollars by 2026, Côte d’Ivoire is a land of opportunity for foreign investors. Côte d’Ivoire has a favorable business environment conducive to creating sustainable wealth. Its welcoming policies towards foreign investors, abundant resources (as a foundation for economic development), stable currency exchange rates and strategic geographical location have made Côte d’Ivoire stand out in industries with great potential, such as green energy. Current situation of electricity in Côte d’Ivoire Côte d’Ivoire has almost achieved universal access to electricity in urban areas, but about 8.3 million people in rural areas still do not have regular access to electricity. The main reason for the low electricity access rate of 33% in rural areas is the high upfront grid connection costs, especially in the central and northern regions. The government has made grid extension the primary electrification policy and launched the “Electricity for All Program” with the goal of achieving 100% access to electricity, including in rural areas, by the end of 2025. Additional construction and increased available resources are urgently needed to expand electricity access in rural areas. Although Côte d’Ivoire’s current per capita emissions are not high, the country still needs to invest more in the field of renewable energy in order to ensure that development can remain at a relatively high level and achieve low carbon environmental protection in the future with population growth. The journey to decarbonization: the path to a green future Transport accounts for 20% of total greenhouse gas (GHG) emissions, and in mega-urban areas this proportion is as high as 40%. This pollution has increased by an average of 1.7% per year for 30 years. According to the International Energy Agency, greenhouse gases from transport must be reduced by more than 3% per year to achieve net zero emissions by 2030. Without alternatives to carbon-based transport, carbon emissions in the world’s fastest-growing cities will continue to rise. Passenger transport demand could increase by 75% by 2050 compared to 2019 levels, with catastrophic consequences for the planet if these carbon emissions are not drastically reduced. Côte d’Ivoire ratified the Paris Agreement in October 2016. Its renewable energy targets for autonomous supply include achieving 42% of electricity generation from renewable sources by 2030, of which 26% will come from hydropower, at an estimated cost of USD 12.9 billion, which is in line with the targets of the National Action Plan for Renewable Energy (PANER). The development of small hydropower stations, off-grid solar power stations, biomass and biogas energy use is also mentioned in the national autonomous supply, but without quantitative targets. To achieve these targets, Côte d’Ivoire’s electricity generation should gradually shift from natural gas to renewable energy sources. Between 2016 and 2018, the country doubled the share of renewable electricity generation from 15% to 30%. It achieved this by replacing about 17% of natural gas generation with hydropower (IRENA, 2020b). International public investment has been particularly important for Côte d’Ivoire to accelerate the achievement of its nationally determined contribution (NDC) targets. Between 2010 and 2018, international public investment totalled USD 1 billion (IRENA, 2020a). A large amount of public investment was focused on hydropower, in particular the Gribo-Popoli hydropower project in 2017 ($459 million) and the Soubre hydropower project in 2013 ($485 million). Increasing public investment could be a key strategic objective for Côte d’Ivoire, given the link between public investment in these projects and the increase in renewable electricity from hydropower. Côte d’Ivoire is committed to reducing greenhouse gas emissions by 30.41% by 2030 and intends to strengthen its resilience to climate change. Côte d’Ivoire’s legislative framework and ecosystem are conducive to the development of a green economy, and the government has also increased awareness of the development of green energy in the report on the National Sustainable Development Strategy 20212025. In 2024, the Côte d’Ivoire Tax Administration’s annex included information to encourage businesses to use renewable energy, sending a signal that the government is gradually focusing on greening the economy. In March 2024, the International Monetary Fund provided Côte d’Ivoire with a loan worth US$1.3 billion for resilience and sustainable development (FRD). To this end, the Côte d’Ivoire government has set a target of 10% of the country’s road traffic being electric vehicles. The overall state of the Côte d’Ivoire car market · It is estimated that the passenger car market revenue will reach 135.8 million US dollars in 2024, with an estimated annual growth rate of revenue (CAGR 2024-2029) of 0.18%. The market size is expected to reach 137 million US dollars by 2029. · The largest number of passenger cars in the market are SUV models, and their market size is expected to reach 52.2 million US dollars in 2024. Toyota: In 2023, Toyota will have a significant presence in the Ivorian car market, accounting for 25% of total sales. Toyota Motor Corporation and the Ivorian government signed an agreement to establish an automobile assembly plant in the West African country. The agreement, which was officially signed during the Japan-Africa Development Conference in Yokohama, Japan, marks an important step in Toyota’s commitment to the African automotive sector. The assembly plant has not yet been completed, but after an interview with Japanese Foreign Minister Kamikawa in Abidjan in April 2024, Ivorian head of state Ouattara called for the establishment of a “Toyota” car assembly plant in Côte d’Ivoire “as quickly as possible”. Suzuki: In 2020, Suzuki had a market share of about 18% in Côte d’Ivoire. It performed well in the region, especially the Suzuki Vitara and the Suzuki Alto taxi for the city, which are widely used in cities such as Abidjan. Although specific market share data for 2023 is not readily available, based on recent performance, Suzuki is likely to continue to