Bolt reveals the reason for launching electric tricycles

• Ride-hailing institution Bolt has launched electrical tricycles successful Lagos arsenic it seeks to turn its concern successful West Africa
• Bolt disclosed that starting successful May 2025, it volition deploy 25 tricycles, which are developed successful confederation with Mobility, a Lagos-based company
• The institution said the electrical tricycles volition outgo N3.2 million, with drivers asked to instrumentality a 15% commission

Legit.ng’s Pascal Oparada has reported connected tech, energy, stocks, concern and the economy for implicit a decade.

Ride-hailing institution Bolt is rolling retired electrical tricycles successful Lagos arsenic it expands its electrical conveyance concern successful West Africa.

The institution said that opening successful May 2025, it volition deploy 25 tricycles developed successful collaboration with a Lagos-based mobility firm.

Bolt offers its tricycle riders 15% committee arsenic it unveils caller vehicles. Credit: Bolt
Source: Original

Bolt operates keke rides successful different cities

The determination expands the ride-hailing company’s concern successful Nigeria, arsenic it already offers tricycle rides successful cities similar Jos and Uyo.

However, this is the company’s archetypal electrical mentation successful Nigeria, wherever riders can take electrical tricycles arsenic an enactment successful the Bolt app.

According to reporting by TechCabal, each tricycle volition outgo N3.2 million, astir $1,1996, with drivers asked to marque a down outgo of N208,000 and dispersed the remainder implicit 18 to 24 months.

Reports accidental lease payments travel successful astatine N32,000 play oregon N156,000 monthly.

Bolt keke riders TO wage for regular artillery swaps

Daily artillery swaps volition outgo astir N6,500, astir fractional of the substance costs for petrol-powered tricycles.

Bolt’s Africa spokesperson, Caroline Wanjihla, said the motorboat is astir gathering an ecosystem and not conscionable introducing vehicles.

She disclosed that the institution is betting connected drivers arsenic EV tricycles person little moving costs, stating that with Bolt’s lease model, drivers tin ain their vehicles for 2 years portion redeeming connected substance and attraction costs.

The institution besides operates a lease-to-own financing exemplary that has travel nether the limelight precocious arsenic drivers connected different platforms, specified arsenic Moove and LagRide, person complained of inflexible repayment terms, which person led to defaults and conveyance repossessions.

Reports accidental that galore ended up moving agelong hours to interruption even. However, Bolt said its exemplary is built otherwise with little introduction costs, predictable play payments, and a little committee rate.

Drivers to gain 15% commission

Bolt’s Operations Manager, Zankiyang Duniya, said the company’s tricycle models are overmuch cheaper, and the outgo plans are flexible, arsenic it is tweaking the exemplary to let for 15% committee comparative to 25% charged connected vehicles.

The tricycles tin tally to 80km/h and past for 12 hours connected a azygous afloat charge, Ayo Mustapha, SGX’s Corporate Finance Manager, said.

They besides run connected a artillery swap model, wherever drivers tin rapidly speech batteries astatine a swap presumption astatine Eagle Square successful Surulere.

Bolt’s electrical tricycle motorboat besides comes erstwhile section operators are seeking alternatives to gasoline-powered tricycles owed to a spike successful substance prices.

Findings amusement that immoderate operators person turned to compressed earthy state (CNG), converting their vehicles to cheaper substance to mitigate precocious petrol costs.

Bolt operates a lease-to-own model

Experts person said that entree to reliable refuelling kits remains a important challenge; however, conversion costs are inactive a large hurdle for astir low-income drivers.

Bolt is reportedly taking a dilatory attack to observe however drivers and riders accommodate to the caller vehicles.

Bolt offers electrical tricycles to drivers astatine N3.2 cardinal astatine 15% commission. Credit: PIUS EKPEI UTOM/Stringer
Source: Getty Images

It plans to widen the exemplary to different Nigerian cities and into further African markets specified arsenic Ghana, Uganda, Tanzania, and Tunisia.

FG opens portal for Nigerians to get CNG-powered tricycle

Legit.ng earlier reported that the Nigerian authorities has launched a portal that allows youths to entree compressed earthy state (CNG)- powered tricycles, popularly known arsenic Keke.

The Minister of State for Youth Development, Ayodele Olawande, disclosed this connected Monday, October 7, 2024.

Activating the portal follows the Nigerian government's motorboat of 2,000 CNG tricycles connected October 1, 2024.

PAY ATTENTION: Сheck retired quality that is picked exactly for YOU ➡️ find the “Recommended for you” artifact connected the location leafage and enjoy!

Source: Legit.ng