Ethiopia’s Aggressive Bet on Electric Cars | Bloomberg Primer

The Quick Take
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 —
Ground Level News aggregates headlines from public feeds. This page shows a short summary only; the full article and all rights belong to Bloomberg Originals.
Related
Business
Roger Glass to Receive 2026 James and Sarah Fries Prize for Improving Health
Global health leader recognized for advancing rotavirus research, vaccine development and access, helping save children's lives worldwide ATLANTA, Nov. 2, 2026…
Business
Cloud Software Group Commences Offer to Purchase for Cash up to $2.0 Billion Aggregate Principal Amount of its 9.00% Senior Secured Second Lien Notes due 2029
FORT LAUDERDALE, Fla., Nov. 2, 2026 /PRNewswire/ -- Cloud Software Group Holdings, Inc. ("Cloud Software Group" or the "Company") has commenced a cash tender…
Business
DPR Construction Names Scott Sass to Lead Raleigh-Durham Operations
Sass brings more than 25 years of operational, market and team leadership to one of DPR's fastest-growing markets. DURHAM, N.C., Nov. 2, 2026 /PRNewswire/ --…
Business
PSP Investments Completes Sale of FirstLight's U.S. Portfolio and Appoints Patrick Gut CEO of Caelo Energy
FirstLight's Canadian business remains under PSP Investments ownership and becomes Caelo Energy MONTREAL, Nov. 2, 2026 /PRNewswire/ -- The Public Sector…
