Ride-hailing platform, Bolt, has partnered with EV manufacturers and a fintech company to distribute over 5,000 electric motorcycles in the next three years as a strategy to slash costs for interested riders.
- •Bolt has assured its riders that the partnership with M-KOPA, Roam, and Ampersand will significantly reduce the cost of owning an electric motorbike by 40% compared to a fuel-powered motorcycle.
- •Riders can start with a deposit on an electric motorbike for as little as KSh 10,000 to KSh 15,000 if they utilize M-KOPA’s flexible payment plan, as well as reduce maintenance costs by 75%.
- •Bolt has made the decision to subsidize the ownership of electric motorcycles, hoping to streamline their transition from fuel-powered vehicles with little cost on riders’ incomes and company’s profit goals.
“By leveraging electric vehicles, we are not only reducing our environmental footprint, but also aim to enhance driver earnings and improve overall economic stability within the communities that we serve. Considering all financial incentives and reduced operating costs, drivers participating in this pilot launch could see significantly increased daily earnings compared to petrol motorcycles.” said Bolt Regional Director Caroline Wanjihia.
The partnership will increase the demand for electric vehicles in the country, accelerating revenue margins and expansion interests of growing manufacturing startups such as Roam and Ampersand.
“For drivers to access the EV bikes, they will need to join the fleet supported by M-KOPA. The drivers will need to operate exclusively on the Bolt platform and then own the bikes after the lease period,” said Daniel Damberger, Managing Director of M-KOPA mobility.
The Race to Electric Mobility
Startup EV manufacturers have attracted investment inflows from climate partners; these funds have not only enabled them to open up new shops and maximize production, but also allowed them to iterate their innovative capacities for greater sustainability.
Roam, for instance, improvised a removable battery that can be charged using household plugs thus reducing the need for EV charging stations that remain elusive. Moreover, the battery provides enough energy for the motorcycle to cover long distances without risk of depletion along the journey.
Bolt’s journey in utilizing green energy solutions began in 2021 after introducing ‘Bolt Green’ in its ride categories. But the unavailability of electric motorbike riders in many urban centers across Kenya diminished the company’s efforts in tackling air pollution and climate change.
The company’s renaissance in its green category this year is likely to be boosted by this visionary partnership and the E-mobility policy that was recently launched by industry stakeholders.
“Our partnership with Bolt will lead the industry forward by adopting the most commercially scalable structure for E-Mobility and energy providers that we’ve encountered. This saves more money for more motorcycle riders and more end users, and at the same time drives emobility forward at the pace that Kenya’s economy, environment and the continued habitability of our planet all demand: A more scalable, win-win all round,” said founder and CEO of Ampersand Josh Whale.
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