By Cyber Era NG Special Correspondent
UNCTAD Secretary-General Rebeca Grynspan met Tuesday with President William Ruto of Kenya to discuss the structural challenges facing the region and offer UNCTAD’s support.
President Ruto stated, “We strongly believe that UNCTAD is a strategic partner for Kenya”, underlining that trade remains key to long-term sustainable economic growth. He was accompanied by Industry, Trade and Investment Cabinet Secretary Moses Kuria.
Ms. Grynspan’s itinerary in the East African nation features discussions with Kenyan ministers, high-ranking officials and business leaders, and a presentation of UNCTAD’s “Holistic Productive Capacities Development Programme for Kenya” – a tool assessing the economy’s latent potential for output. The UNCTAD chief is also set to tour a circular economy center in Lavington, Nairobi.
“This is Kenya’s moment,” Ms. Grynspan asserts, underlining the nation’s innovation and resilience at large and its potential as an innovation and supply chain hub for sectors like automobiles, mobile phones and solar power.
Kenya’s economy has demonstrated remarkable resilience despite COVID-19 and other shocks, with growth rates projected to exceed 5 per cent. Diversified exports, including high-tech goods like mobile phones, position Kenya to reap gains from the African Continental Free Trade Area (AfCFTA).
The country’s burgeoning e-commerce market, projected to encompass nearly 40 million by 2027, and plans for a US$40 smartphone align with President Ruto’s vision of affordability.
Secretary-General Grynspan will launch UNCTAD’s flagship Economic Development in Africa Report 2023 in Nairobi on 16 August.
Ms. Grynspan’s first official mission to Kenya underscores UNCTAD’s commitment to comprehending and bolstering African nations’ pivotal role in shaping the global economy and having a leading role in global supply chains.
Tesla receives over 1,000 Cybertruck reservations daily in the last 2 years
In the automotive innovation space, Tesla has consistently stood at the forefront of electrification, autonomy, and futuristic design, with Cybertruck emerging as one of the products that are redefining conventional perceptions of a pickup truck. With the vehicle’s distinctive design and advanced technology, it has continued to record an unprecedented wave of consumer interest.
In this line, data acquired by Finbold indicates that as of July 2023, the number of Cybertruck reservations stood at 1,943,876. This value represents a growth of nearly 80 per cent, equivalent to 859,676 reservations, compared to the figure of 1,084,200 in May 2021. This translates to an average of approximately 1,102 Cybertruck reservations daily over the past two years.
Moreover, these reservations align with Tesla’s delivery patterns for its other vehicle models, which have consistently risen. In 2022, the electric vehicle manufacturer achieved a significant milestone by surpassing the one million mark in deliveries for the first time, reaching a total of 1,313,851. This reflects a growth of 40 per cent compared to the 2021 figure of 936,172. Therefore, the latest reservation count has surpassed the amount of Tesla deliveries in a single year. Notably, between 2019 and 2020, the company delivered 866,750 vehicles.
Understanding the Cybertruck buzz
The research identified some of the drivers behind the increasing interest in the Tesla Cyberstruck. According to the research report:
“The sustained buzz around the Cybertruck is primarily attributed to its disruptive nature. Electric vehicles have gradually gained traction in the market, and the Cybertruck represents Tesla’s audacious attempt to infiltrate the traditionally conservative pickup truck segment. Its promises of exceptional range, impressive towing capabilities, and acceleration could rival high-performance cars and allure to a broad spectrum of consumers.”
Meanwhile, the question of whether these reservations can effectively metamorphose into concrete sales still lingers. Tesla is grappling with the formidable task of creating electric vehicles that genuinely resonate with the traditional trucker demographic.
This group has conventionally exhibited minimal enthusiasm for electric vehicles, introducing a significant hurdle for manufacturers across the board.
