Bolt's Sh100 million investment in Kenya's electric mobility competition

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【Summary】Taxi-hailing company Bolt plans to invest Sh100 million in Kenya to introduce electric mobility solutions. The company currently has 40 electric-powered bicycles being used for deliveries in Nairobi and aims to offer electric-powered vehicles for hailing within the next year. Bolt will collaborate with electric car manufacturers and banks to make the transition to electric vehicles more affordable and accessible.

FutureCar Staff Sep 06, 2023 9:22 AM PT

Bolt's Sh100 million investment in Kenya's electric mobility competition

Taxi-hailing company, Bolt, plans to invest at least Sh100 million in the Kenyan market to promote electric mobility solutions. The company currently has 40 electricity-powered bicycles being used for deliveries in Nairobi. Bolt's co-founder, Martin Villig, stated that the company aims to offer the option of hailing electric-powered vehicles through their app within the next 12 months. This move is in line with the ongoing plans for an e-mobility framework in Kenya, as well as the company's goal to reduce its carbon footprint.

Villig mentioned that Bolt will initially focus on transitioning to electric two and three-wheelers, which are more affordable, before expanding to electric cars. The company plans to work with electric car manufacturers and banks to identify affordable and reliable models for drivers and enable financing. Villig believes that electric two and three-wheelers will become more visible in the next two or three years.

During a visit to Bolt Headquarters, a Kenyan delegation explored e-mobility solutions, including e-scooters. However, concerns were raised about Kenya's infrastructure readiness to support widespread adoption of electric vehicles. Bolt acknowledges the need for charging stations and battery swapping opportunities for the successful implementation of e-mobility solutions.

Bolt has also partnered with the National Transport and Safety Authority (NTSA) to ensure driver safety and weed out rogue elements within its platform. The company is committed to addressing concerns and improving safety standards.

In August, the Transport Cabinet Secretary, Kipchumba Murkomen, established a task force to generate a report that will guide Kenya's roadmap on e-mobility. The report will include proposals on economic interventions, such as tax incentives, to encourage the uptake of e-mobility solutions.

The global transition to clean transport is essential in combating pollution and climate change. Bolt's investment in electric mobility in Kenya is a significant step towards a more sustainable transportation system.

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