Kenya electric mobility market expands through financing and battery-swapping

Kenya’s electric mobility sector is experiencing significant growth driven by new financing milestones and infrastructure developments. Fintech company M-KOPA has reached a milestone of financing over 10,000 electric motorcycles in the country. M-KOPA riders reportedly save an average of KSh530 ($4.10) daily due to lower maintenance and energy costs. The company is now expanding its pay-as-you-go financing model to include electric tuk-tuks to tap into the larger commercial transport market.

Simultaneously, the entry of Sun Mobility, an Indian battery-swapping provider, is attracting international manufacturers to the Kenyan market. At least 10 electric vehicle manufacturers from China, India, and Italy—including firms such as Afrina Neopower, BGauss, and Piaggio—are planning to enter Kenya to utilize the common battery-swap network. This infrastructure allows manufacturers to deploy electric motorcycles and three-wheelers without the need to develop proprietary battery systems. Sun Mobility has already established 35 swap stations across Nairobi and Mombasa.