adminRumbidzayi Zinyuke Manicaland Bureau
QUEST Motor Corporation is set to venture into the “new energy” vehicle industry by tapping into Zimbabwe’s vast lithium deposits. This follows an upsurge in investor enquiries on lithium, which has become the much-sought after mineral not only in Zimbabwe, but across the world as the automotive industry moves towards electric cars which use lithium batteries.
Speaking at the Manicaland Investment Conference held in Mutare last week, Quest Motors chief executive, Mr Tarik Adams said the company wanted to take advantage of the unexplored industry to revive the local motor industry, which has struggled for almost two decades.
“I am sure you have heard of the abundant lithium resources that Zimbabwe has. We don’t want the country to export all the lithium, we want to be part of new energy vehicle industry and therefore value add lithium taken out of our land here and put it into Zimbabwean assembled vehicles. We look forward to working with you. Quest is open for business and we are looking forward to working with the new Government,” he said.
Mr Adams said Quest had been struggling to get new investors due to lack of implementation of policies meant to cushion the motor industry by the previous Government.
He said the company had several serious investors from France, Malaysia, Turkey, Finland, China and India who were looking forward to investing in their plant.
“But they are not willing to commit to investment at this stage until they see commitment to implementing policies by our Government. We look forward to working with the current administration to change this situation so that the lives of about half a million people could be changed through the simple implementation of existing policies,” he said.
Quest has in the past invested over $100 million in Zimbabwe and has the capacity to employ 4 000 direct employees and over 50 000 in downstream industries. However, the company is currently operating at two percent capacity.
Speaking at the same event, Special Advisor to the President, Ambassador Christopher Mutsvangwa, said the move by Quest was the big break Manicaland province had been looking for.
He said the President’s Office and the Ministry of Industry and Commerce had already approached the company with the view to working with them towards developing a new energy vehicle transportation system.
“What Quest has mentioned is a jump from diesel engine vehicles to the electric driven vehicle. This is going to be the new trend the world over. It’s a new industry. We have already approached Quest to develop an electric energy vehicle transportation system starting with public buses,” he said.
“Seizing new energy industries will make us leap forward. We will be able to catch up with other countries. These are some of the opportunities we want people of Manicaland to be seizing. Look at something, which has been done differently, and in another old fashioned way, take advantage of it to bring in a new way to do it then your province will always be ahead.”
Ambassador Mutsvangwa said it had been difficult to get more investment into the Zimbabwean motor industry since all car manufacturers moved to South Africa in the past years.
“We want partners who are bringing in new era technology. When looking for investment, don’t look for old partners who have already failed, look for the best, this is your opportunity to do that,” he said.
He said Government was looking towards crafting new energy sector policies to cater for emerging trends such as the electric vehicle industries.
Lithium has become one of the major minerals for Zimbabwe and is expected to draw vast investment opportunities in the next four years.
Historically, in Zimbabwe lithium was only mined in Bikita, but there have been significant discoveries of the mineral across the country including just outside Harare and Gweru.
The rise in lithium powered batteries across the world, following the increase in electrical vehicle production, has spawned the massive demand for lithium exploitation.
It is hoped that the market for electric vehicles will hit $100 billion in the next two years.
Online Reporter