Ride-hailing giant Bolt is making waves in Lagos with its latest endeavor—introducing electric tricycles to the city’s bustling streets. This innovative move comes as Bolt aims to expand its electric vehicle (EV) footprint across West Africa, marking a significant step towards sustainable mobility solutions.
The company has teamed up with SGX Mobility, a reputable electric mobility firm based in Lagos, to develop and deploy 25 state-of-the-art electric tricycles. While Bolt already offers traditional keke rides in Nigerian cities like Jos and Uyo, this launch marks the first introduction of electric tricycles in the country, setting a new standard for eco-friendly transportation options.
“This launch is about building an ecosystem, not just introducing vehicles,”
Caroline Wanjihla, spokesperson for Bolt Africa, emphasized the broader goal behind this initiative during a recent launch event. The focus is on creating a sustainable ecosystem that benefits both drivers and the environment. By opting for EV tricycles, drivers can enjoy lower running costs while contributing to reduced carbon emissions—a win-win situation for all.
Behind the Scenes: Driver Economics and Lease Models
Under this new scheme, each electric tricycle comes with a price tag of ₦3.2 million ($1,996). To facilitate ownership for drivers, a down payment of ₦208,000 ($130) is required upfront, with the remaining amount spread over 18 to 24 months. Weekly lease payments are set at ₦32,000 ($20), or alternatively ₦156,000 ($97) per month—providing flexibility tailored to driver needs.
“EV tricycles have lower running costs…drivers can own their vehicles in two years.”
The innovative lease-to-own financing model introduced by Bolt aims to address common challenges faced by drivers on similar platforms. By offering more favorable terms such as lower entry costs and predictable weekly payments alongside a reduced commission rate of 15%, Bolt strives to create a sustainable framework that empowers drivers economically.
Technical Specifications and Operational Efficiency
The newly launched electric tricycles boast impressive performance metrics—they can reach top speeds of 80km/h and operate continuously for up to 12 hours on a full charge. Ayo Mustapha from SGX highlighted that these tricycles operate on a battery swap system located at Eagle Square in Surulere. This streamlined process ensures minimal downtime for drivers while enhancing daily earnings predictability—a key factor driving adoption among local cycle workers.
“Drivers will be able to quickly exchange batteries…designed to minimize downtime.”
Amid Rising Fuel Costs: Embracing Sustainability
Against the backdrop of escalating fuel prices, many local cycle workers have been exploring alternative energy sources like compressed natural gas (CNG). However, challenges such as limited refueling infrastructure access and conversion costs have hindered widespread adoption of CNG-powered vehicles among low-income drivers.
In light of these challenges emerges Bolt’s EV push—a promising solution offering not only ownership opportunities but also zero greenhouse gas emissions benefits. As conversations around sustainable transportation gain momentum globally, Bolt’s strategic move aligns with evolving market dynamics and growing environmental consciousness within Nigeria’s urban landscape.
Future Outlook: Scaling Up Sustainability Across Africa
Looking ahead, Bolt plans to monitor how drivers and riders acclimate to the new electric vehicles before considering further expansion. If initial responses prove positive, there are intentions to extend this model beyond Lagos into other Nigerian cities such as Ghana,
Uganda,
Tanzania,
and Tunisia—underscoring ambitions towards pan-African sustainability efforts through EV adoption.
With Lagos serving as an initial litmus test demonstrating readiness for electric vehicles given favorable economics and supportive infrastructure prospects,
Bolt remains optimistic about paving the way towards greener urban transport solutions across various African markets—an exciting journey poised at the intersection of innovation,
sustainability,
and socio-economic impact within dynamic metropolitan landscapes.
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