Stima, a battery swapping technology specialist, has partnered with Kenyan car financing firm Mogo, which is a part of Eleving Group, and ride hailing firm Bolt to boost distribution of electric motorcycles in Kenya.
In the deal, Stima will contribute motorcycles and battery swapping framework while Mogo, which has more than 50,000 active lease-to-own deals with motorcycle riders, will support lease-to-own plans for riders who will adopt Stima-powered electric motorcycles.
On its end, Bolt will promote electric motorcycles to its fleet of 4,000 riders currently using Bolt Food delivery App, with the aim of fully transitioning its food delivery fleet to electric.
The three entities seek to foster climate-friendly mobility to provide the Kenyan market with combine lease-to-own asset finance, battery swapping technology and ride hailing.
“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,” said Stima Co-Founder and CEO Jason Gras.
“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,” said Eleving Group CEO Modestas Sudnius.
He added: “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 in 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.”
On his part, Bolt Food Country Manager Edgar Kitur lauded the initiative saying it underpins the ride-hailing firm’s commitment to enable couriers adopt sustainable transport modes.
“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,” said Kitur.
Kitur added that through Mogo, Bolt riders will easily access financing, which will in turn mitigate the challenge posed by the initial cost of acquiring the introduced e-bikes.
“The e-motorcycles will add to our existing greener transport options on our platform, including electric tuk-tuks and e-bicycles,” he added.