Julien Paluku, the Congolese Minister of Foreign Trade (Democratic Republic of Congo) visited Tesla's factories in San Francisco on October 2, 2024. After the visits, the official said that the American company "gives hope" to the DRC, which seeks to produce electric batteries. "Cobalt, lithium, manganese, nickel, coltan... are housed in our land. The others, who don't have it, have done it in 20 years. Let's chase immediacy and plan," he tweeted.
Tesla serves as an inspiration. After raising about $7.5 million in 2004, the company's valuation reached nearly $785 billion by October 4, 2024, with earnings of $14.9 billion in 2023. This is more than the combined value of the 18 largest companies in the DRC's portfolio, estimated at $10.9 billion in 2022. Julien Paluku noted that this impressive growth shows that to achieve great things, you need to take action: "To get started, you have to get started."
The DRC took many steps to advance its project for the local transformation of resources essential for the energy transition. Among others, the country set up a Council to oversee its goals related to batteries and electric vehicles, the Conseil Congolais des Batteries. It also created the DRC Battery Corporation, a joint venture among several mineral producers responsible for supplying raw materials for pilot battery production plants. Additionally, a framework agreement was signed with Zambia to jointly produce electric batteries, enhancing regional cooperation in this key industry.
On the research side, a significant step was taken with the launch of the African Center of Excellence for Batteries (CAEB) at the University of Lubumbashi on April 22, 2022. This center focuses on promoting innovation and technological development in battery technology.
To achieve these ambitions, the DRC must overcome major infrastructure challenges, particularly in electricity supply and connectivity (roads and telecommunications).
Paluku's visit to Tesla is part of broader efforts by Congolese authorities in the United States to showcase the DRC's potential and attract American investors. These initiatives aim to secure international partnerships to support development in strategic sectors like electric battery production and effective use of natural resources essential for energy transition.
Julien Paluku previously led the Industry portfolio and helped develop a $58.4 billion industry plan.
Georges Auréole Bamba
