Monday, December 5, 2022

STIMA, Mogo and Bolt form partnership to spread Electric Motorcycles in Kenya

Battery swapping technology specialist STIMA has partnered with Kenyan vehicle financier Mogo, a part of Elevating Group, and the ride-hailing company Bolt to increase the spread of electric motorcycles in Kenya on a large scale. STIMA will contribute motorcycles and battery-swapping infrastructure to the partnership while Mogo, which already has more than 50,000 active lease-to-own agreements with motorcycle riders, will support lease-to-own plans for riders adopting STIMA-powered electric motorcycles. Bolt will promote electric motorcycles to the fleet of 4,000 riders currently using the Bolt food delivery App, with the objective of transitioning its food delivery fleet to electric.

The partnership unites three entities with shared values of climate-friendly mobility and which together provide the Kenyan market with a complete transport solution through lease-to-own asset finance, battery-swapping technology, and ride-hailing.

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Jason Gras, Co-Founder, and CEO of STIMA says: “The partnership with Mogo and Bolt contributes to the far-reaching goal of STIMA: to spread the adoption of e-mobility in Kenya and East Africa. By harnessing STIMA’s battery swapping technology, Mogo’s tier one asset  financing, and Bolt’s legacy in ride-hailing, this partnership will put more electric motorcycles  on the road.”

Modestas Sudnius, the CEO of Elevating Group, adds: “The future of mobility will be electric.  The first steps in educating people about climate-friendly and sustainable decisions must be taken already today, and it is a part of the Group’s mid-term, and long-term strategy. We want to be present in Kenya with innovative products and productive lending. For us, this project contributes to fulfilling our strategic goals in the field of ESG, where we have committed to increasing the number of emission-free vehicles in our portfolio and reducing the carbon footprint arising from it. For our clients, this project will save money on fuel and maintenance costs. For society, in the long run, it will improve the ecological aspects in the  cities, such as air quality and reduced noise levels.”

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“Bolt Food is delighted to be partnering with STIMA on this initiative as it underpins our commitment to helping couriers earn more whilst encouraging sustainable modes of transportation. Through STIMA, couriers will purchase electric motorcycle bikes, allowing them to save on costs as they are less cost intensive in terms of consumption and maintenance. Through Mogo, they will get ready access to financing, which mitigates the challenge posed by the initial cost of acquisition of the e-bikes. The e-motorcycles will add to our existing greener transport options on our platform, including electric tuk-tuks and e-bicycles. Bolt Food is committed to providing viable economic opportunities to all its courier  partners and enhancing customer experience through affordable, reliable, and sustainable  services,” said Edgar K Kitur, Country Manager, Bolt Food

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