Spiro Kenya Signs Asset Financing Agreement with Mogo to Deploy 1,000 Electric Motorbikes by July
Nairobi, Kenya – 14 May 2024 – Spiro, Africa’s largest electric vehicle (EV) player, today announced a significant asset financing agreement with Mogo, a leading provider of vehicle financing solutions. This partnership will see the deployment of 1,000 innovative electric motorbikes across Kenya by the end of July 2024.
Spiro is the largest electric vehicle company in Africa, with over 14000 bikes, and over 9 million swaps in five countries. Operating across multiple African nations, Spiro's mission is to reduce environmental impact and enhance urban mobility, build an integrated EV ecosystem in Africa with multitude of partners and establish a wide range of charging infrastructure which include battery swapping and direct charging.
Having establish operations in Mombasa, Spiro is now turning its attentions to expansion in Nairobi and will further develop it's network of automated smart battery swapping stations, fast chargers, and home charging solutions for riders in a bid to further reassure riders against range anxiety as the switch to electric vehicles continues to accelerate.
Kaushik Burman, CEO of Spiro, commented on the partnership: "This agreement with Mogo is a testament to the rapid growth and accelerating impact Spiro is making in the EV market. Partnerships like this are crucial as we expand our footprint and reinforce our position as Africa's largest EV player. We anticipate more collaborations in finance and franchising across Africa in the near future, driving further growth and innovation in sustainable transportation."
In Africa, greenhouse gas emissions from transportation are growing at a rate of 7% each year. Air pollution is the second biggest killer across the continent, associated with heart disease, stroke, and lung cancer. Around 1.1 million people die prematurely from air pollution in Africa each year.
Kshitij Sharma, Head of Spiro Kenya, highlighted the benefits for riders and motorbike taxi drivers: "Our extensive network of charging and battery swapping stations in Mombasa and Nairobi, along with the option for direct home charging, is designed to make life easier for our riders. This infrastructure will significantly increase the profitability for motorbike taxi drivers, providing them with a reliable, efficient, and cost-effective means of transportation."
Rauls Leitis, Business Development Manager at Mogo, added: "Spiro's presence in Kenya is vital for advancing sustainable transportation solutions. This partnership underscores our belief in Spiro's product and model. As an asset financer, Mogo is dedicated to finding affordable solutions for motorbike taxi drivers. Thanks to Spiro and our ongoing collaboration, electric motorbikes have become the more economic and sustainable option, and we are excited to extend this success in Kenya."
This agreement follows Spiro's recent successful partnerships with Jali, Watu, Lexo, Petrocity and others, underlining the company's commitment to advancing sustainable transportation solutions across Africa.
Spiro launches an Automated Swap Station at a Lexo fuel station in Nairobi earlier this year.
About Spiro:
Spiro is the largest electric vehicle company in Africa, with over 14000 bikes, over 9 million swaps in five countries. Operating across multiple African nations, Spiro's mission is to reduce environmental impact and enhance urban mobility, build an integrated EV ecosystem in Africa with multitude of partners and establish a wide range of charging infrastructure which include battery swapping and direct charging.
Notes to Editors:
Spiro is a leading EV company, with more than 14,000 innovative electric bikes deployed across Africa. Our innovative battery swapping technology allows riders to exchange batteries easily and safely in a matter of seconds at our battery swapping stations.
Spiro is delivering clean energy and sustainable transportation in Benin, Togo, Kenya, Rwanda, with plans to launch in Uganda and Nigeria later this year.
Spiro riders have collectively driven almost quarter of a BILLION KM without polluting Earth's atmosphere.
With over 14,000 electric motorbikes and 40,000 swappable batteries in operation across Benin, Togo, Rwanda, and Kenya, Spiro is at the forefront of Africa's transition to sustainable transportation. Our riders have swapped batteries 8 million times in the last 2 years.
Spiro's technical innovation centre, based in Pune, has developed the technology platforms to deliver a Pan African smart energy ecosystem, powering the transition to sustainable transportation across the continent.
Spiro is a subsidiary of Equitane, a global conglomerate focused on creating sustainable and innovative solutions across diverse industries. With a mission to lead responsible development worldwide, Equitane invests in and supports companies that align with its vision of integrating sustainability into business practices. The group is made up of leading subsidiaries in sectors such as renewable energy, healthcare, agribusiness, and technology, each contributing uniquely to our collective impact.