# Ethiopia’s Aggressive Bet on Electric Cars | Bloomberg Primer

- Source: Bloomberg Originals
- Published: 2026-11-02T14:36:35+00:00
- Category: Business
- Original: https://www.youtube.com/watch?v=aa2VfXs3qY0
- Canonical: https://groundlevelnews.com/story/ethiopia-s-aggressive-bet-on-electric-cars-bloomberg-primer-6613e5/

In 2024, Ethiopia became the first country to ban imports of new gasoline-powered cars, and the main reason wasn't global warming. Ethiopia was spending billions of dollars every year on imported fuel it couldn’t afford, and subsequently defaulted on its debt. Cheap hydropower from Africa’s largest dam made electric vehicles a practical alternative, and Chinese-made EVs — some assembled locally —

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