E-motorcycle companies rely on asset financing

 Companies that sell electric motorcycles are using alliances with lenders who specialise in asset finance to boost sales in Kenya by focusing on boda boda riders. In order to provide a fleet of motorcycles by the end of 2022 in time for mass deployment in early 2023, Swedish-Kenyan technology startup Roam has teamed up with M-KOPA.

In order to offer the product with flexible financing conditions, ARC Ride Kenya, which opened a plant in Kenya and now produces 500 two and three-wheeled electric scooters and bikes each month, also teamed with M-KOPA and Watu Credit. Kenya and the surrounding countries are quickly catching up in terms of electric transportation

According to Roam, the power of digital micropayments combined with Internet-of-Things (IoT) technology allows underbanked clients to use M-KOPA to access a variety of goods and services without putting up any kind of security.

According to Mikael Gnge, Co-founder and chief commercial officer of Roam, "M-KOPA will aid with the distribution of the motorcycles through its revolutionary "Pay-As-You-Go" model, which offers clients quick access to products while establishing ownership over time through flexible micro-payments."

Car and General (C&G) stated in January that it would begin offering electric cars and tuk-tuks for sale as part of a strategy to diversify into the "green" mobility market, which is anticipated to expand in response to efforts to combat pollution and climate change.

The 25-seater bus has a range of 250 kilometres and requires less than four hours to recharge. A daily membership fee of Sh20 per kilometre will also be charged to purchasers to cover the expense of leasing the battery, nightly charging at a BasiGo depot, as well as service and maintenance for the buses.

Kenya is attempting to reduce environmental pollution by catching up to the rest of the globe by switching to clean mobility in a race against time.

Posted on : 03 Dec,2022 | News Source : ABNews

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