The company revealed the plans at its Delivering the Future event in Dartford, England, where it also introduced an upgraded version of Proteus, its autonomous warehouse robot.

The new Proteus can move across warehouse floors rather than being limited to loading and dock areas. Amazon said employees can now give the robot instructions using everyday language instead of technical commands.

“You tell it what needs to be done. It figures out the priority, the route, the timing,” said Scott Dresser, vice president of Amazon Robotics.

Like the current version, Proteus is designed to handle physically demanding work, including moving heavy carts over long distances. Amazon explained that the upgraded robot is being tested in its laboratories and is expected to begin operating in Europe during the first half of 2027.

Alongside Proteus, Amazon also highlighted other robotics technologies that it plans to expand across its European network. These include Vulcan, the company’s first robot with a sense of touch, and STARK, a robotic tote-handling system that works alongside employees by picking full totes from conveyors and placing them onto carts.

STARK was first tested in Barcelona and Amazon plans to deploy it at 15 sites across Europe by 2027.

The warehouse robots rollout is part of an investment programme worth more than €10 billion, Amazon said the funding will be used to expand and modernise fulfilment centres across Europe while supporting long-term growth in the region.

The company expects the expansion to create 25,000 additional jobs across its European fulfilment network over the coming years.

Amazon also announced a fresh commitment to workforce development, pledging $1 billion to its Career Choice programme by 2030. The initiative funds education and training for employees seeking careers in areas such as cyber security, software development, logistics, renewable energy and mechatronics.

More than 300,000 employees have participated in the programme globally, including 30,000 in the United Kingdom.

On the delivery side, Amazon said it will open more than 25 Sub Same-Day Delivery sites across Europe this year. The facilities bring storage, fulfilment and final delivery operations together in one location, allowing customers to place orders later in the day and still receive them within hours.

The company said the network will expand to locations including Coventry in the UK and Nürnberg in Germany.

Amazon Now, the retailer’s ultra-fast delivery service for groceries and household essentials, is also set for further growth. The service, which promises delivery in 30 minutes or less, is already available in parts of London and will expand to Manchester and Birmingham later this year.

In another update for European customers, Amazon said its Add to Delivery feature will launch in the UK, Germany, Spain, Italy and France later this year. The service allows Prime members to add items to an existing order without completing a separate checkout process or paying extra delivery charges.

The company is also strengthening its grocery offering. Customers in parts of central and east London can now combine fresh food items, including fruit, vegetables, meat and dairy products, with other Amazon purchases for same-day delivery.

Amazon said the investment drive follows a record year in Europe. The company invested more than €60 billion across the region in 2025, its largest annual investment in Europe to date.

The retailer also provided an update on its sustainability efforts, revealing that more than 50,000 electric delivery vans are now operating across the United States, Europe and India. That figure represents half of Amazon’s target to deploy 100,000 electric vans globally by 2030.

In Europe, Amazon and its delivery partners have now completed more than 100 million deliveries using electric cargo bikes, electric mopeds and on-foot delivery methods. These deliveries have helped avoid more than 17,000 metric tonnes of carbon emissions.

The investment, announced alongside Tesla’s latest results, comes with assurances that production plans for the long-promised Cybercab robotaxi remain on course. 

After years of missed timelines, Tesla is asking the market not to judge it on car sales but also on whether its self-driving vision finally turns into a working business.

This will not come cheap as Chief Financial Officer Vaibhav Taneja said capital expenditure would climb beyond $20 billion this year, more than twice the $8.5 billion spent in 2025, as Tesla expands factories and builds the computing backbone needed for autonomy, robotics and new vehicles. 

Shares initially jumped in after-hours trading before easing back as the scale of the spending became clear.

Tesla wants investors to back future revenue from software, robotaxis and humanoid robots at a time when its core electric vehicle business is under pressure. 

Competition has increased, prices have fallen, and a key US tax incentive for EV buyers has ended. Revenue slipped about 3% last year to roughly $94.8 billion, the first annual decline in Tesla’s history.

On a conference call, Musk acknowledged the transition and again pressed the case for autonomy as Tesla’s defining metric. Analysts agree that the focus has shifted. “(That) makes rollout metrics – not deliveries – the most important leading indicator from here,” said Thomas Monteiro, senior analyst at Investing.com.

Tesla says it is already running a limited driverless robotaxi service in Austin, Texas, using Model Y vehicles equipped with its Full Self-Driving software. The Cybercab, designed without a steering wheel or pedals, is meant to scale that effort. 

Musk said he expects fully autonomous vehicles to operate across a large part of the United States by the end of the year, though he has previously set and missed similar targets.

On regulations, vehicles without traditional management do not fit current federal safety standards, and Tesla has not provided firm dates for approval or widespread unsupervised deployment. Even so, the company insists Cybercabs will be added to its robotaxi network and sold to consumers once production begins.

The spending surge will also fund projects that have sat on Tesla’s roadmap for years, including the Optimus humanoid robot, the Semi truck and the Roadster sports car. 

Musk warned that early production of both Cybercab and Optimus would be slow, saying last week it would be “agonisingly slow” before accelerating. On Wednesday, he said Tesla does not expect meaningful Optimus volumes until late 2026.

There are supply risks as well. Musk cautioned that a global shortage of memory chips could limit Tesla’s ambitions as demand from large technology firms soaks up capacity for data centres. 

He floated the idea of building a chip plant to protect the company. “If we don’t do that, we’re just going to be fundamentally limited by supply chain,” he said. “In a worst-case geopolitical situation, it would be quite a severe situation.”

While the car business faces challenges, one division is performing strongly. Tesla’s energy generation and storage unit posted record revenue of $3.84 billion in the fourth quarter, up 25.5% from a year earlier, driven by demand for grid-scale batteries that support renewable power and stabilise electricity networks. That growth has become a bright spot as vehicle margins are squeezed.

Financially, adjusted earnings per share beat expectations in the fourth quarter, but net income fell 61% to $840 million. Automotive gross margins, excluding regulatory credits, improved to 17.9%, well above forecasts. 

To protect volumes, Tesla has leaned heavily on discounts and cheaper versions of its best-selling models, and Wall Street expects deliveries to rise modestly to about 1.77 million vehicles this year.

Some investors are enthusiastic about the pivot. “With Tesla’s legacy EV business slowing, Tesla investors can take part in the scorching hot AI boom,” said Andrew Rocco, a stock strategist at Zacks Investment Research.

This comes after SpaceX, his private aerospace company, launched a December tender offer valuing the firm at $800 billion, double its worth in August, according to two investors who spoke to Forbes. 

Musk, who owns roughly 42% of SpaceX, sees his stake alone jump by an estimated $168 billion, bringing his total net worth to around $677 billion as of Monday noon Eastern Time.

SpaceX is preparing for a public offering in 2026, which could value the company near $1.5 trillion. Even without the IPO, Musk’s SpaceX holdings are now his single most valuable asset. 

Tesla is a major contributor too; his 12% stake in the electric vehicle company is estimated at $197 billion. Meanwhile, Musk is appealing a Delaware court decision that voided parts of his 2018 CEO Performance Award, which Forbes has discounted by 50% pending the outcome, currently estimated at $69 billion.

Musk’s reach extends beyond Tesla and SpaceX. His AI startup, xAI Holdings, is reportedly in talks to raise $15 billion in new funding at a $230 billion valuation, double its March 2025 valuation of $113 billion. Musk owns 53% of xAI, which Forbes estimates at $60 billion.

Tesla shareholders have also approved a record-breaking $1 trillion pay plan for Musk, contingent on achievements such as growing Tesla’s market capitalisation eightfold over the next decade. “Mars shot” targets like this show Musk’s vision of merging electric vehicles with robotics and AI.

Over the past five years, Elon Musk has repeatedly rewritten the record books, making the $600 billion worth no surprise.

He was worth $24.6 billion in March 2020, surpassed $100 billion in August 2020, $200 billion in 2021, $300 billion later that year, $400 billion in December 2024, and $500 billion in October 2025. His lead over the second-richest person, Google co-founder Larry Page, now sits at $425 billion.

SpaceX’s growth, particularly through Starlink’s expansion to over three million subscribers and ventures into aviation and maritime internet services, is a key driver of Musk’s wealth surge. 

Tesla, despite slower sales, has seen its stock climb 13% this year, partly due to investor confidence in Musk’s robotics and autonomous vehicle ambitions.

If the SpaceX IPO meets its projected valuation, Musk could soon become the first trillionaire in history.

The decision, to be announced after the company’s annual general meeting in Austin, Texas, will boost Musk’s personal wealth to trillions of dollars and will also reveal how much trust investors have in his leadership and vision to transform Tesla from an electric vehicle maker into a company built around robotics and autonomous systems. 

A “yes” would reaffirm that faith and a “no” could unsettle markets.

The proposed package links Musk’s payout to several targets, which include Tesla delivering 20 million vehicles within a decade, putting one million robotaxis on the road, and raising its market capitalisation from around $1.5 trillion to as much as $8.5 trillion. 

Supporters call these goals huge but achievable under Musk’s leadership. On the other hand, some see them as an excessive risk that gives too much power to one man.

Among the most vocal opponents are Norway’s sovereign wealth fund and leading proxy advisory firms, who argue the package is “excessive” and “unwarranted.” Still, Elon Musk holds about 15% of Tesla’s shares and is allowed to vote them this time, making the pay package approval highly likely.

The vote also follows a case in Delaware, where Musk’s previous $50 billion package was voided earlier this year. Tesla’s relocation to Texas now allows shareholders to revisit that compensation under different corporate laws.

Tesla’s Chair, Robyn Denholm, in a letter to shareholders, urged support for the plan: “The fundamental question for shareholders at this year’s Annual Meeting is simple: Do you want to retain Elon as Tesla’s CEO and motivate him to drive Tesla to become the leading provider of autonomous solutions and the most valuable company in the world?”

Investors will also vote on whether Tesla should invest in xAI, Musk’s artificial intelligence company. He has previously said Tesla “should back the company,” but the board has not endorsed the move. Some see it as a way to speed up Tesla’s AI vision; others fear conflicts of interest, given Musk’s multiple ventures.

Another proposal seeks to abolish Tesla’s supermajority voting requirement, which currently demands a two-thirds majority to make key changes. Previous attempts to scrap it failed in 2019, 2021, and 2022. If passed, it would lower the threshold to a simple majority, and some investors believe it could consolidate Musk’s influence further.

A separate proposal calls for Tesla to adopt a political neutrality policy, prohibiting partisan activity by executives and assigning oversight to a board committee. Tesla’s board opposes the measure, saying its current governance already ensures transparency and accountability.

This measure indirectly tests investor mindset toward Musk’s outspoken political behaviour, including his public support for former U.S. President Donald Trump.

Despite the near certainty of passage, the vote has divided institutional investors. Norway’s sovereign wealth fund, several U.S. pension funds, and major proxy advisers such as ISS and Glass Lewis have all declared opposition. 

Musk’s base of retail shareholders, however, remains fiercely loyal and could provide the margin of victory, as they did in last year’s shareholder vote.

Musk’s personal ventures, public remarks, and unpredictable management style have repeatedly influenced Tesla’s stock and reputation. 

It’s been argued that Tesla’s board has become too aligned with him. Stephen Diamond, a corporate governance expert at Santa Clara University, observed: “There’s very little evidence of any dissent or daylight between the board and Musk on any issue. You just have to wonder whether that’s really a rational way to run the company.”

If the new pay package passes by a wide margin, it would strengthen Musk’s grip on Tesla and symbolically counter the Delaware court’s earlier ruling. But a narrow approval could lead to investor unease over Musk’s position and Tesla’s future governance.

Musk himself has tied his continued leadership to shareholder approval. Tesla’s board previously revealed that he might walk away if denied the package. 

According to a regulatory filing, Musk acquired 2.57 million Tesla shares last week through The Elon Musk Revocable Trust, spending close to $999 million at prices between $371.90 and $396.36 per share. 

This is his first open-market purchase since 2020, a move analysts interpret as both a vote of confidence and a calculated step to strengthen control ahead of an important shareholder meeting in November.

With this acquisition, Musk’s trust directly holds 96 million Tesla shares and indirectly controls more than 413 million, tightening his grip on the company as it prepares to vote on a proposed $1 trillion performance-based compensation package. 

The plan, set for 6 November, ties Musk’s payout to extraordinary milestones such as delivering 20 million vehicles, reaching an $8.5 trillion market cap, and deploying one million robotaxis and humanoid robots. If approved, Musk’s stake could rise to as much as 29%.

Tesla’s stock closed at $395.94 on Monday, up 7.36% and reversing its year-to-date decline of around 2%. Options activity also spiked, with more than 120,000 contracts trading around the $360 strike price, reflecting heightened bullish sentiment despite lower implied volatility. The rally extends a rebound in September, lifting Tesla’s shares nearly 10% month-to-date.

Still, the company’s operational realities are fraught. Global EV sales are down 10% this year. Europe has seen a sharp 40% decline, while China has slipped 6%. In the U.S., temporary strength is being fuelled by consumers rushing to take advantage of the $7,500 federal tax credit before it expires. 

Tesla’s American market share dropped to 38% in August, the lowest in eight years, a contrast to the 80% it held in 2020. Analysts warn that the third-quarter gains may prove short-lived once incentives fade.

Internally, there have been questions over Musk’s political involvement and its effect on Tesla’s brand. Board chair Robyn Denholm objected these concerns on Friday, saying: “It’s up to him” and adding that Musk is now “front and center” at Tesla after several months at the White House.

If successful, this raise will push its valuation beyond the $1 billion mark, giving the company unicorn status and enable Moove to become one of the top global drivers of sustainable urban transport.

In just over a year, Moove’s annual revenue jumped from $115 million to $360 million. That’s around $30 million a month, driven mostly by its core business of financing cars for Uber drivers and a newer, more focus on fleet management in the U.S. market. 

Moove is no longer just a vehicle financing outfit as it’s now embedding itself in the emerging world of autonomous mobility.

Moove is already managing fleets for Waymo, the self-driving arm of Google’s parent company Alphabet. In Phoenix and Miami, the company handles cleaning, charging, and storage of Waymo’s electric robotaxis. That may sound like back-end work, but it’s a tough role. 

As Waymo rolls out commercial operations in new cities, Moove ensures these vehicles are ready for the road every single day.

Co-founder Ladi Delano said, “The current agreement with Waymo is limited to fleet management.” But Moove wants more. The company is preparing to purchase autonomous vehicles (AVs) directly from manufacturers, lease them to entrepreneurs or businesses, and still maintain full control over their operations, from depot management to charging and cleaning.

Moove is betting that today’s Uber drivers could become tomorrow’s robotaxi fleet owners. By giving them access to mini-fleets of AVs, the company is creating a model where ownership and scale intersect, without sidelining drivers.

The strategy is already global. Moove has financed cars in Africa, India, and the UK, using a drive-to-own model that lets drivers eventually own the vehicles they work with. Now, it’s taking that experience into markets with far more complex regulatory and operational demands, like the U.S.

Its recent acquisition of Brazilian mobility startup Kovi also shows how far Moove is willing to go to scale quickly. That move instantly expanded its revenue base and widened its footprint in Latin America.

To date, the company has secured $750 million in funding, both debt and equity, from investors including Uber, which holds a stake of over 10%, and the Abu Dhabi-based Mubadala Investment Company.

Moove has hired over 90 people in the U.S. this year alone. Across the world, its workforce has grown to more than 2,100. This is a global operator with eyes on the evolving future of how people and goods move.

Moove is building the infrastructure behind the AV space. While companies like Waymo develop the tech, Moove is betting that whoever owns and runs the fleets, keeps them clean, charged, and on the road, will hold real power.

And that’s what this $300 million is really about.

Electric vehicle sales dropped nearly 26%, making up less than 1% of total car sales, held back by high costs and limited charging infrastructure. 

With inflation at 23.71%, and interest rates at 27.5%, the desire to own a new car is sliding further away for many. 

However, local manufacturers are fighting to change this. Innoson Vehicle Manufacturing, Nigeria’s pioneer carmaker, is the second best-selling brand after Toyota, despite a 10.5% sales decline. 

Meanwhile, Nord Motors, a newer company with a focus on tech and urban style, is trying to carve out space to reduce imports and ensure durable, affordable vehicles across the market.

This article pits Innoson Vehicle Manufacturing (IVM) and Nord Motors head-to-head to find out who’s better prepared to put Nigeria’s car industry on the map.

Innoson Vehicle Manufacturing was founded in 2007 by Chief Innocent Chukwuma in Nnewi, Anambra State. In case you don’t know Nnewi well, it’s the town referred to as Nigeria’s manufacturing hub and nicknamed the “Japan of Africa.” 

Innoson carved a niche by building affordable, functional vehicles for a market taken over by imports. It became the first indigenous carmaker in Nigeria, winning government contracts and the loyalty of rural transporters and military clients.

Contrast this with Nord Motors, founded in 2018 by Oluwatobi Ajayi, a Lagos-based entrepreneur with a background in tech and startups. 

Nord’s vision is fixed premium, sleek vehicles for the urban middle class in Nigeria. The brand appeals to professionals, SMEs, and anyone who wants a local car that looks and feels foreign, what you might call the “Tesla meets Naija roads” approach.

Innoson is the village billionaire, rooted, established, and broad in reach. Nord is the tech bro, fresh, goal-driven, and taking advantage of the digital economy. Both are Nigerian brands, but their DNA couldn’t be more different.

Vision and Positioning

Innoson sells practicality and their cars are utilitarian, designed for the rough roads in Nigeria and to serve institutions that need reliable, low-cost vehicles. They focus heavily on governments, the military, and transporters in rural areas, aiming for affordability, ruggedness, and local empowerment.

Nord, meanwhile, targets image-conscious urbanites who want a statement car. The vehicles have modern design, tech features, and a premium price tag, while the company’s marketing channels drip with aspirational energy and speak directly to a younger, more globalised Nigerian consumer.

Let’s not say this is old money versus new money, because there is a fundamental difference in understanding the consumer. Who is more in tune with Nigeria’s diversity?

Products & Market Segments

User experiences reiterate this divide. Innoson owners usually commend the durability and service accessibility, especially outside cities. Nord buyers talk about style and innovation but sometimes flag price and limited service points.

Manufacturing & Local Content

Innoson takes over 70% local content, including plastic parts and tyres, proudly flying the “Made in Nigeria” flag. Nord assembles vehicles locally but relies heavily on imported components, especially for high-tech parts. Both provide jobs, but when it comes to local content, Innoson has a deeper footprint.

What does “Made in Nigeria” mean? It’s a complicated question. True local manufacturing requires a supply chain that can support production beyond assembly. Innoson is closer to that goal, while Nord is still building its ecosystem.

Distribution, Government Support & Partnerships

Innoson’s advantage is strong government ties. Contracts with federal agencies, military supply deals, and support from industrial policies give it a steady order book. Nord, younger and nimbler, has cultivated goodwill with Lagos State and logistics companies but lacks the broad institutional backing Innoson enjoys.

Nigeria’s auto policies are meant to encourage local assembly, and both brands have licences to assemble vehicles. Yet, the real beneficiaries remain an open question. Policy incentives often favour established players, but the market is crying out for more competition and innovation.

Branding & Public Perception

Innoson is known and respected but doesn’t generate much buzz beyond the Eastern region and government circles. Its brand feels solid but traditional.

Nord, in contrast, is loud on social media, with ads and an urban edge. It appeals to younger Nigerians who value style and tech and is a darling of the tech community and influencers.

While Innoson’s Chief Chukwuma embodies steady leadership, Nord’s Ajayi speaks startup language, innovation, and growth.

Challenges

Innoson struggles with after-sales service complaints, limited tech upgrades, and an outdated online presence. Its vehicles can feel dated to a younger generation.

Nord faces production limitations, pricing that may put off mass consumers, and brand awareness that hasn’t reached beyond Lagos and a few urban centres.

Neither is perfect. Innoson and Nord have important work ahead if they want to take over Nigeria’s car market.

Nigeria’s automotive sector is delicate, with vehicle sales projected at 410,000 units in 2025 and 75% used cars, local brands need to fight harder to increase new car uptake. 

The government expects 70% of cars sold by 2050 to be locally assembled, but challenges of inflation, high interest rates and a naira that has lost over 42% of its value this year alone, limit this expectation.

Electric vehicles, the supposed future, are still marginal here. Despite global trends, Nigeria’s EV market is tiny, led by Volkswagen and Kia, with local EV initiatives like Nord still finding their feet.

Beyond which brand will win, we need to think about Nigeria’s entire ecosystem, can it evolve to support them both.

Innoson brings legacy, reach, and a connection to our country’s industrial roots. Nord carries youth, style, and fresh aim to a market hungry for innovation. Both brands face enormous challenges, but they are Nigeria’s best bets to reduce dependence on imports.

I believe this is not about choosing one over the other, but pushing for policies and investments that let both thrive.

After all, in Nigeria’s drive for automotive self-reliance, both the tech bro and the village billionaire must be in the driver’s seat.

And now, with $320,000 (R6 million) in grant funding from the Energy and Environment Partnership (EEP Africa), the startup has the backing to prove it’s not just an idea.

The project isn’t about selling more chargers or fancy dashboards, but confronting one of South Africa’s most pressing headaches — load shedding — with a tool that’s been parked in our garages all along.

Zimi’s focus is vehicle-to-grid (V2G) technology. In plain terms, it’s a system that lets EVs push electricity back into buildings or the national grid. You go out, you drive, you come back, you plug in — and instead of just topping up your battery, your car can give power back to your home or workplace. When the grid fails, you don’t have to sit in the dark.

“The grant aims to investigate and understand the limitations and challenges of Vehicle-to-Grid (V2G) technology, develop real-world pilot applications to test V2G in practice, and ultimately create a commercial model that operates within existing grid constraints,” said Michael Maas, CEO of Zimi.

The EEP Africa grant didn’t come easy. Over 530 organisations submitted applications. Only 32 got the green light. Zimi was one of them. That’s no fluke.

Zimi already works closely with logistics firms — companies that own large vehicle fleets and lose money every time a truck sits idle. With V2G, that downtime becomes productive. An EV parked at a warehouse can now help power the lights and keep operations running during outages. It’s energy recycling, fleet-style.

“Perhaps the most important factor is a proven track record – something we have established through our work with major logistics providers such as Bakers Logistics,” Maas added.

The EV market in South Africa is still growing, but Zimi isn’t waiting for mass adoption. It’s betting on fleet operators to lead the transition. These are the early adopters who feel the pinch of diesel prices and operational delays more than anyone else. They also have the scale to test and refine new tech like V2G before it hits mainstream consumers.

Zimi’s solution is a complete system that helps businesses monitor their energy usage, manage payments, and even plug into solar power when available. Think of it as a full EV ecosystem, designed for the realities of South African power problems.

The timing couldn’t be better. Volvo recently launched the EX90 in South Africa, one of the country’s first EVs capable of bi-directional charging — a key requirement for V2G tech. Slowly but surely, the hardware is catching up with the vision.

At its core, Zimi is pushing for a mindset shift. The car in your driveway or at the company depot isn’t just for transport anymore. It’s a backup generator, a battery, and a power manager rolled into one.

For a country that still dreads the next stage of load shedding, it’s a breath of fresh thinking. 

The research compared the original purchase prices of various Electric Vehicles and internal combustion engine (ICE) models with their estimated used prices in 2025, revealing the differences in how quickly each type of vehicle loses value.

According to the findings, the Toyota bZ4X is the worst-performing EV in terms of resale value, losing 29.09% more than the Toyota RAV4. 

Originally priced at $42,000, the bZ4X drops to $25,773 on the used market—a 38.64% depreciation—while the RAV4 sees only a 9.55% decrease over the same period.

The Biggest Losers in EV Depreciation

The 2022 Ford F-150 Lightning LARIAT comes second, losing 25.8% more than its ICE equivalent. While the standard Ford F-150 sees a 22.33% depreciation, the Lightning LARIAT drops 48.13% in value.

Luxury vehicles are also heavily affected. The Audi Q8 e-tron ranks third, depreciating 24.01% more than the Audi Q8. Originally priced at $75,795, the Q8 e-tron drops to $20,958 in the used market—losing 72.35% of its value.

Other findings include:

• Nissan Ariya depreciates 19.26% more than the Nissan Rogue
• Mercedes EQE sedan loses 17.28% more than the Mercedes C-Class
• Mercedes EQS depreciates 16.56% more than the Mercedes S-Class
• Ford Mustang Mach-E loses 15.91% more than the Ford Mustang

Among EVs, the Nissan Leaf holds the record for the biggest overall depreciation, with buyers paying 83% less for a used model than its original price.

Why Do EVs Lose Value So Fast?

A spokesperson from Value My Car explained that while EVs tend to cost more upfront, they lose value faster due to rapid technological advancements. Buyers usually prefer newer models with improved battery life and features, leading to steep depreciation for older EVs.

“While new electric vehicles often cost more than gas cars upfront, their prices drop much faster in the used market – creating good deals for second-hand buyers. This pattern shows up clearly in cars like the Nissan Leaf, which loses over 80% of its value used. The rapid price drops likely happen because EV technology keeps improving quickly, making older models less attractive, but this creates an opportunity for buyers who want to try an electric car without spending too much.”

However, this trend also brings an opportunity for budget-conscious buyers. Second-hand EVs are becoming more affordable, making them an attractive option for those looking to switch to electric without the high initial cost.

The study highlights a climactic challenge for EV adoption—while they ensure environmental benefits, their financial viability is a big concern. Consumers need to weigh the cost of ownership, resale value, and technological advancements before making a purchase.

Nigeria is witnessing a growing interest in EVs, spurred by the government’s push for clean energy and private-sector initiatives.

Although EV adoption remains in its early stages, efforts to establish a sustainable EV ecosystem are gaining traction, with projections indicating significant market growth over the next decade.

In terms of infrastructure growth, the number of available charging stations in Nigeria has gradually increased.

As of recent years, only a handful of charging points exist in urban areas such as Lagos, Abuja, and Port Harcourt.

However, government-backed initiatives like solar-powered charging stations are expected to accelerate growth. Despite this progress, the ratio between available charging stations and electric vehicles remains wide, signaling a need for rapid infrastructure expansion to support EV adoption.

As charging stations become more widespread, new challenges arise, especially when it comes to protecting them and their customers.

This is where smart video and video analytics come into play. To store, analyze, and enable real-time alerts, these systems must come with an appropriate data storage infrastructure providing the capacity, performance, security, and resilience for current and future EV stations.

Primed for Success: Smart Video and EV Charging Stations

When it comes to the successful expansion of charging station infrastructure, an important component that may not always be considered is a reliable monitoring system to protect the facilities.

With the increasing number of charging points in both urban and remote areas, operators need to have an overview of activity at the sites at all times.

To pave the way for safety and success, EV station owners in Nigeria are turning to AI-enabled security cameras that offer innovative features to revolutionize the way operators protect their property.

These smart video devices can help distinguish between natural elements, vehicles, animals, as well as people, and can send alerts in the case of unforeseen events or unusual behavior.

With ever-improving resolution quality, from 4K to 8K and beyond, as well as advancements like motion sensors, new cameras enable object tracking, significantly reducing false alarms.

Over recent years, EV stations globally, including in Nigeria, have faced risks such as cable and battery theft, vandalism, and other forms of destruction. This not only leads to financial losses but also affects the reliability and availability of the stations.

Video analysis can help protect against and prevent vandalism before it occurs or catch the perpetrators in the act.

This is because AI-enabled cameras can optically zoom in, analyze the target automatically, and take a picture or record a video of the conspicuous event.

In addition, intelligent video can use algorithms to detect other threats such as fire or animals. For example, a situation can be assessed if a wildfire or electrical fault has broken out near the charging station, and fire detection can be useful to take effective measures against the spread of potentially dangerous events and minimize the damage to the station and surrounding areas.

It also allows EV owners to detect approaching animals, such as stray livestock, which could potentially cause damage to the installation.

These AI-enabled smart video systems not only place new demands on the equipment but also on the data storage infrastructure powering video analytics.

Capacity, latency, and bandwidth become crucially important when recording, streaming, and analyzing high-resolution footage to take quick action.

Data Storage is Fueling EV Charging Station Security

Storage is a critical component to unlocking the full potential of smart video data.

When designing infrastructure, EV station owners in Nigeria need high-capacity storage at the edge in the camera, in the server or recorder, as well as on the cloud or the data center that offers low latency, high performance, and quick scalability. Another important consideration in smart video is video and data retention time.

This could vary according to regulatory compliance, redundancy and backup practices, or longevity or reliability of the storage solution.

This means that any storage solution for smart video features should enable long-term storage without compromising performance while complying with data protection regulations.

Translating these requirements into reality, a 360° smart video camera recording in full HD at 25 frames per second (fps) for 24 hours generates approximately 2.5TB of data over a specified retention period, usually around 90 days.

To have sufficient storage capacity for these daily streams of an EV charging station, the backend must have at least 225TB.

To meet these demands, EV station operators in Nigeria need customized storage solutions that support these new AI workloads and associated storage requirements.

As video analytics and deep learning for today’s intelligent video solutions are performed both on-premise and in the cloud, it is important to provide a scalable, cost-effective, and durable, yet high-performance storage infrastructure.

EV station operators can obtain highly resilient, durable on-camera storage of up to 256 gigabytes (GB) in the form of microSD cards at the edge of the network, supporting card health monitoring capabilities, preemptive storage management, and reliability for continuous 24/7 high-definition video recording.

Specially designed microSD cards, such as those from WD Purple, can continue recording even if the connection to the network video recorder (NVR) is interrupted. For reliable storage at the core, decision-makers should look to purpose-built hard disk drives (HDDs) that offer up to 22TB of storage and are equipped with advanced features.

These enable up to 32 AI streams for deep learning analysis within the system while reducing image failures.

In addition, these HDDs, designed for intelligent video environments, are also optimized to handle up to 64 additional single-stream HD cameras, allowing for easy scalability as requirements change.

As the uptake of EVs continues to grow in Nigeria, charging station owners should set themselves up for success and position themselves to benefit from the investment in this growing infrastructure.

An important part of this will be the right smart video infrastructure that allows operators to monitor and improve the security and functionality of their stations, as well as detect and respond to events in real time.

As part of this, video data and data storage will continue to fuel the potential in this industry to ensure safety, security, and incident prevention.