KENYA—Bolt, an on-demand mobility company in Africa, has announced the launch of its electric bike fleet in Kenya in collaboration with M-KOPA, a fintech platform.
Through this partnership, new and existing drivers will have the opportunity to lease ROAM and Ampersand electric motorbikes at a discounted price compared to the current market rates.
This strategic move marks a significant step in Bolt’s commitment to enhance driver earnings through the reduction of operational costs in the market and move towards eco-friendly urban mobility, aligning with global efforts to combat climate change.
The 5,000 electric motorcycle rollout aligns with the recent launch of Kenya’s National E-mobility Policy, which aims to promote local production and assembly of EVs.
With zero tailpipe emissions and lower maintenance requirements than traditional vehicles, these electric bikes offer a cost-effective alternative for drivers, enabling them to maximize their earnings while minimizing expenses.
“We are excited to introduce our electric bike fleet, in partnership with M-KOPA, as part of our ongoing efforts to support and empower our drivers. This marks a significant milestone in Bolt’s mission to provide sustainable and financially viable transportation solutions in Kenya,” Caroline Wanjihia, Regional Director, RideHailing Operations, Africa & International Markets, said.
“By leveraging electric vehicles, we are not only reducing our environmental footprint but also aiming to enhance driver earnings and improve overall economic stability within our communities.
“Considering all financial incentives and reduced operating costs, drivers participating in this pilot launch could see significantly increased daily earnings compared to petrol motorcycles.”
M-KOPA is Kenya’s largest financier of electric motorbikes, having already financed approximately two-thirds of the electric bikes on Kenya’s roads.
Through this collaboration, Bolt will leverage M-KOPA’s fintech platform to make electric motorbike ownership affordable by substantially reducing the expenses associated with electric motorbikes for drivers.
This approach is expected to lead to approximately 40% savings in total ownership costs compared to petrol motorbikes.
By subsidizing the cost of the vehicle, Bolt enables drivers to choose an electric motorbike at a price equal to or below that of a comparable petrol alternative.
With reduced energy and maintenance expenditures, drivers can decrease their vehicle operating costs by up to 75%.
Riders on the Bolt platform can access an electric bike for as low as KES10,000- 15,000 through vehicle financing, enabled by the partnership between M-KOPA, ROAM, and Ampersand.
By combining the power of digital micropayments with IoT technology, M-KOPA offers customers access to a broad range of productive assets, including electric motorcycles, without collateral or a guarantor.
Drivers will need to join the fleet supported by M-KOPA to access the EV bikes. They will then need to operate exclusively on the Bolt platform and own the bikes after the lease period.
Since 2019, Bolt has been mitigating its environmental impact by investing in projects primarily focused on renewable energy and resource conservation.
In 2021, Bolt introduced a new ride category on its platform dubbed Bolt Green. This category offers eco-friendly rides as the company moves towards reducing its ecological footprint in Nairobi.
The category has hybrid and electric cars to reduce emissions during trips on the Bolt platform, thus offering greener transport options. This category expanded Bolt’s ride options, creating more economic opportunities for drivers and providing passengers with more options.
As part of its launch strategy, Bolt will initially deploy the electric bikes in Nairobi, with plans to expand shortly.
The company seeks to create a sustainable and inclusive transportation ecosystem that benefits users and the environment through strategic partnerships and collaborations with local stakeholders.
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