STIMA, Mogo, & Bolt Form Partnership To Spread Electric Motorcycles In Kenya
Author: Remeredzai Joseph Kuhudzai
STIMA is a battery swapping technology company targeting the deployment of convenient battery swapping infrastructure for electric motorcycles at scale. STIMA estimates that there are about 20 million two-wheelers on Africa’s roads today. STIMA and India’s leading electric motorcycle manufacturer OneElectric recently announced their partnership to deploy 3,000 rechargeable electric motorcycles in Kenya in a first phase.STIMA has now signed a new partnership with Kenyan vehicle financier Mogo, a part of Eleving Group, and the ride-hailing company Bolt, to increase the spread of electric motorcycles in Kenya on a large scale. STIMA will contribute motorcycles and battery swapping infrastructure to the partnership while Mogo, which already has more than 50,000 active lease-to-own agreements with motorcycle riders, will support lease-to-own plans for riders adopting STIMA-powered electric motorcycles. Bolt will promote electric motorcycles to the fleet of 4,000 riders currently using the Bolt food delivery App, with the objective of transitioning its food delivery fleet to electric. The partnership is set to provide the Kenyan market with a complete transport solution through lease-to-own asset finance, battery swapping technology and ride hailing.