Watu Credit score Companions With ARC Journey to Improve Variety of EV Battery Swap Stations in Nairobi

Watu says it has been on the forefront of asset financing for two- and three-wheeler autos. To this point, the corporate has financed the acquisition of over 100 electrical belongings in Kenya. Watu’s e-motorbike financing mannequin permits prospects to accumulate an electrical bike for as little as Ksh 450 day by day (US$3 per day).

Watu Credit score Restricted, an asset financing firm, has introduced a strategic partnership with battery-as-a-service supplier ARC Journey. Nairobi-based ARC Journey designs, builds, and assembles electrical 2-wheelers and 3-wheelers, in addition to a proprietary battery swapping and administration platform. ARC Journey is ramping up the rollout of its electrical scooters and bikes in addition to the set up of its battery swap stations in Nairobi, bolstered by its partnership with international auto components Tier 1 firm Musashi Seimitsu Trade Co., Ltd. The collaboration goals to fabricate 1,000 electrical autos and set up over 300 battery swap stations in Nairobi by the top of 2024.

ARC Journey says its electrical motorbikes are being developed in Kenya by in depth analysis to make sure they meet native wants. The bikes will be operated with very low upkeep, as they want no oil, chains, gears, and no gas to function. This then presents nearly as good proposition for riders within the final mile supply house to contemplate switching from ICE autos to electrical ones.

One in every of ARC Journey’s flagship merchandise is the Corbett, a sensible and sturdy multi-functional bike, designed for items and meals supply or private commuting. Listed below are some specs of the Corbett:

• 60 km vary
• 60 km/h high velocity
• 200 kg payload
• 3 kW hub motor
• Swappable battery
• Synchro disc brakes
• Mud & Water Resistance IP67
• 14″ alloy wheels
• 4-point adjustable rear wheel
• Anti-dive, 4-point adjustable entrance suspension

ARC Journey desires riders to “unleash their fashion,” and the Corbett has 5 hanging colours riders can select from, together with electrical blue, fiery crimson, vibrant yellow, modern black, and charming olive inexperienced. It has a 1.44kWh LFP battery, and riders can swap their battery packs at considered one of ARC Journey’s good automated swap stations in Nairobi in beneath 2 minutes.

Watu’s assist of the nascent electrical mobility sector in East Africa is a welcome improvement.

“At Watu, we strongly consider that EV is the long run. In recognition of the truth that producing the subsequent EV for the African market is an costly enterprise, we began investing in ARC Journey to assist them of their analysis and innovation and supply of bikes attentive to the African market to the bottom,” says Erick Massawe, Kenya Nation Supervisor at Watu.

Watu provides that it has constantly been dedicating assets to the event of ARC Journey with an purpose to additional develop the electrical bike sector in Kenya. Along with supporting the manufacturing of EVs, Watu is facilitating the setup of battery-swapping stations in Nairobi.

“For many of our riders who use their bikes for enterprise, what they care about is with the ability to run a extra environment friendly enterprise by spending much less on gas and likewise having an EV that they will use with out worrying that the battery will run dry in the midst of nowhere. We’re serving to ARC Journey arrange extra battery-swapping stations throughout Nairobi. Presently, ARC Journey has put up seventy-six battery-swapping stations throughout Nairobi and its environs, with a goal of getting at the very least 100 stations by the top of this yr. That is central to creating more and more boda boda riders make the swap to EVs,” notes Eric Massawe.

The 76 swap websites are in varied areas alongside Eastlands, Ngong Street, Githurai, Westlands, Kiambu Street, Kebete, Mombasa Street, and Thika Superhighway. The battery swap stations serve at the very least 50 riders per day, and these numbers have been going up because the variety of swap stations improve.

ARC Journey, represented by George Songe, mentioned, “We’re increasing our community of automated swapping stations to make sure that electrical boda prospects can conveniently exchange their batteries when the necessity arises. Clients can exchange batteries in beneath a minute for as little as Ksh 350 per day, for limitless swaps.”

To make them safe and accessible, the swap stations are arrange by partnerships with meals chain retailers akin to Dominos and Artcaffe and gas advertising and marketing corporations akin to Ola Power. A number of extra partnerships within the pipeline shall be introduced earlier than the top of 2023.

Erick added that Watu determined to be concerned within the EV improvement course of as a result of they’ve been uncovered to the challenges that have to be addressed to allow EV adoption throughout the continent.

The Kenyan authorities has prioritized the adoption of e-motorbikes into the boda boda sector, and Watu’s funding aligns with the efforts to enhance entry to charging infrastructure in Kenya. It can additional contribute to assembly Kenya’s aim of making certain that at the very least 5% of all not too long ago imported autos are totally electrical by 2025, as acknowledged within the Nationwide Local weather Change Motion Plan.

Andrii Volokha, Common Supervisor for East Africa at Watu, commented, “We wish to provide financing options that not solely make entry to e-motorbikes inexpensive to our prospects and accessible nationwide. This funding will enhance their penetration and uptake as we play our half to contribute to a simply transition.”

There are nicely over 30 e-mobility startups in Kenya. Quite a lot of them have been operating some pilots over a number of phases during the last 4 or so years. Quite a lot of them are actually beginning to transfer into business roll-outs. On this part, probably the most vital issues is monetary assist for each the electrical mobility startups and the offtakers (prospects). The startups want numerous capital to scale up manufacturing, and the riders want financing to decrease the obstacles to entry into the world of electrical mobility. It’s nice to see asset financing firms akin to Watu come on board and strongly assist the transition to e-mobility in East Africa. I’ve truly seen considered one of these ARC Journey Swap stations in motion in Nairobi, and it was a fairly cool expertise.

There may be nonetheless numerous work to be carried out on all fronts within the electrical mobility ecosystem in Kenya to actually ramp up the sector and begin displacing an excellent chunk of ICE bikes, together with on the tech and financing aspect of issues. Gamers within the sector proceed to work and iterate and are making some good progress. There’s a good basis for the electrical mobility sector in Kenya, and now the laborious work begins to actually take it to the subsequent degree.

Photographs courtesy of Watu and ARC Journey