In some African countries, however, political instability and uncertain economic conditions make borrowing money more expensive. To some extent, the high financing costs affect the purchase of any vehicle, regardless of how it’s powered. But EVs are more expensive up front than equivalent gas-powered cars, and that higher up-front cost adds up to more interest paid over time. In some cases, financing an EV can also be more expensive than financing a gas vehicle—the technology is newer, and banks may…
