Kagame meets Chinese investor eyeing EV assembly plant in Rwanda

President Paul Kagame met Xu Hui, Chairman of Rich Resource International Investments (RRII) and Vice President and Board Secretary of Chery Holding Group, to discuss potential investment opportunities, including the possible establishment of an electric vehicle (EV) assembly plant in Rwanda. ALSO READ: China's Silk Road Fund boss explores investment partnerships in Rwanda The meeting, held on Thursday, April 23 at Village Urugwiro, focused on advancing Rwanda’s industrialisation agenda and its growing push toward e-mobility. ALSO READ: 50 more electric buses to be deployed on Kigali roads Chery Holding Group is a major Chinese automotive conglomerate managing several vehicle brands and diversified sectors. Xu was last in Rwanda in April 2025, when his Chery Holding Group and Rwanda Development Board (RDB) signed an agreement on cooperation in key sectors, including e-mobility, green energy, agriculture, and mining. ALSO READ: Rwanda inks deal with Chinese automotive and tech group His meeting with President Kagame comes as the government has accelerated its efforts to transition to e-mobility. Recently, among other initiatives in place, the Ministry of Infrastructure directed all public institutions to ensure that at least 30 per cent of vehicles they procure are fully electric, as part of measures to reduce emissions from the transport sector. China is the largest source of Rwanda's foreign direct investment. In 2024, RDB reported $3.2 billion in foreign direct investment. China invested $460 million, a 14.1 per cent share, followed by India followed ($445.1 million) and USA ($442.3 million) and Nigeria ($313 million).

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Kagame meets Chinese investor eyeing EV assembly plant in Rwanda