In a groundbreaking collaboration, Bolt, the foremost on-demand mobility service in Africa, has joined forces with M-KOPA, a prominent African fintech platform, to roll out a fleet of electric motorcycles across Kenya.
This innovative venture is set to elevate driver income and support international endeavors in addressing climate change, with plans to introduce over 5,000 electric bikes within the next three years.
Fostering Economic and Environmental Transformation
Through the collaboration between Bolt and M-KOPA, both new and existing drivers will have the opportunity to lease electric motorbikes from ROAM and Ampersand at rates below prevailing market prices.
This strategic alliance is a cornerstone of Bolt’s overarching mission to reduce operational expenses for drivers and advance eco-friendly urban transportation solutions.
It seamlessly aligns with Kenya’s recent implementation of the National E-mobility Policy, which advocates for local production and assembly of electric vehicles (EVs).
Electric motorcycles offer drivers a cost-efficient alternative, empowering them to boost earnings while minimizing costs.
Renowned for their zero tailpipe emissions and reduced maintenance requirements compared to traditional motorbikes, these vehicles emerge as a compelling choice both environmentally and economically.
Empowering Drivers Financially with Technology
Central to this partnership is the pivotal role played by M-KOPA. The company has already financed approximately two-thirds of the electric bikes currently traversing Kenyan roads.
By integrating its fintech platform into this endeavor, M-KOPA enables drivers to procure electric motorbikes at significantly discounted rates, resulting in nearly 40% savings in total ownership costs compared to conventional petrol bikes.
Thanks to Bolt’s subsidy, drivers can now obtain an electric motorbike at a price on par with, or even lower than, their petrol counterparts.
The substantial reduction in energy and maintenance expenditures could potentially slash vehicle operating costs by up to 75%, making a substantial impact on drivers’ daily earnings.
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Dedication to Sustainable Progress
Caroline Wanjihia, Regional Director of Ride-Hailing Operations for Africa & International Markets at Bolt, conveyed her excitement about the launch of the electric bike fleet, emphasizing its positive impact.
“This represents a pivotal moment in Bolt’s endeavor to offer sustainable and economically feasible transportation solutions in Kenya,” she remarked.
By embracing electric vehicles, Bolt aims not only to diminish its environmental impact but also to bolster driver earnings and enhance overall economic resilience within the communities it serves.
David Damberger, Managing Director of M-KOPA Mobility, underscored the transformative potential of this collaboration.
“Teaming up with Bolt marks a significant stride toward redefining mobility in Kenya through accessible financing options for electric motorbikes, particularly for those underserved by traditional banking,” he remarked.
Looking Ahead: Future Plans and Expansion
The initial deployment of electric bikes will concentrate on Nairobi, with extensive expansion blueprints in place.
Bolt’s endeavor receives robust backing from its ongoing investments in renewable energy and sustainability initiatives.
Since 2019, the company has championed various eco-conscious programs, such as the Bolt Green ride category, featuring hybrid and electric vehicles aimed at curbing emissions on the platform.
This collaboration among Bolt, M-KOPA, and leading electric motorbike manufacturers ROAM and Ampersand establishes a pioneering model for Kenya’s ride-hailing and delivery sector.
It epitomizes a scalable, mutually beneficial solution fostering economic growth, environmental preservation, and the sustainability of our planet.
As Kenya progresses on its journey toward sustainable development, this joint initiative by Bolt and M-KOPA stands as a testament to innovation and empowerment, heralding a greener, more prosperous future for all.
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