Electric vehicles are fast gaining ground in Guyana, and businesses stand to benefit the most from making the switch, according to Gibion Moonsammy of Evolve Mobility Guyana.

During an interview with Business InspireGY on his company’s participation in next year’s Beyond the Wheel Summit, Moonsammy said that as of July, 872 electric vehicles had been registered in the country. He described the figure as incredible for a country that was only introduced to the technology last year.

Moonsammy said he was surprised at how quickly Guyanese had embraced electric vehicles since persons are usually reluctant to try something new. He said that while some persons are buying because it is the trending thing, the high cost of fuel last year and into this year has been the main reason for the shift.

According to Moonsammy, a gasoline vehicle can cost between $10,000 and $15,000 a week to run, while an electric vehicle costs between $4,000 and $4,500 a week to charge. He said this is a great saving for the Guyanese population.

But he said the real advantage lies with businesses. Moonsammy explained that Guyana is moving toward a green economy under its Low Carbon Development Strategy 2030, and a number of policies are in place to encourage companies to switch from gas to electric vehicles.

He said there are no import duties on electric vehicles, which means buyers pay only the landed cost, including brokerage and other services. In addition, a company that registers an electric vehicle in its name can apply to the Guyana Revenue Authority for a tax write-down of 50 per cent a year over two years. That claim is made through the company’s tax returns.

“So you’re able to recover the cost of your vehicle within a two-year period,” Moonsammy said.

For companies operating delivery vans, sales fleets or staff transport, the savings on fuel combined with the tax relief could significantly reduce operating costs.

Moonsammy also addressed concerns about parts and maintenance, which are often raised by persons considering an electric vehicle. He said the battery, which is the most important component, has a lifespan of about ten years, and his company offers a warranty of up to eight years. He said routine maintenance is limited mainly to changing the coolant, brake fluid and light bulbs.

On the issue of distance, Moonsammy said some of the company’s vehicles can travel up to 600 kilometres on a single charge, enough to drive from Georgetown to Linden or Parika and return without recharging.

He said the company chose to participate in the Beyond the Wheel summit because road safety is everyone’s business. He pointed to safety features such as 360-degree cameras and a camera that monitors the driver and sounds an alert if the driver begins to fall asleep.

Moonsammy encouraged other entrepreneurs to take part in such forums, saying they would be missing out on the chance to share best practices and learn about new equipment and policies that could benefit their businesses.

With fuel prices continuing to affect households and businesses, Moonsammy believes more Guyanese will make the move from gas to electric.