ARC Ride, an innovative e-mobility battery-as-a-service (BaaS) provider, has secured $5 million in funding from British International Investment (BII) to accelerate the adoption of electric two-wheelers in Kenya. As Kenya strives to reduce transport-related emissions and build a low-carbon future by 2030, ARC Ride’s affordable and reliable battery-swapping solutions address key challenges, such as limited charging infrastructure and high upfront costs. With over 170 charging stations already installed in Nairobi, this investment will expand clean mobility access, helping to cut emissions and improve air quality nationwide.
ARC Ride Secures $5 Million Financing to Boost E-Mobility in Kenya
ARC Ride, a leading provider of battery-as-a-service (BaaS) solutions for electric mobility, has raised $5 million in funding from British International Investment (BII). This investment will support the company’s mission to deliver affordable, reliable, and clean e-mobility options across Kenya.
E-Mobility: Key to Kenya’s Climate Ambitions
Electric mobility plays a vital role in Kenya’s plan to develop a low-carbon transport system by 2030. The transport sector currently accounts for 13% of the country’s greenhouse gas emissions. Electric vehicles (EVs), especially electric two-wheelers, are seen as crucial in cutting emissions and improving air quality nationwide.
Overcoming Challenges to EV Adoption
Despite its potential, EV adoption in Kenya has been slow due to limited charging infrastructure and a lack of suitable financing options. ARC Ride addresses these barriers by offering user-friendly BaaS solutions that reduce the upfront cost of electric two-wheelers and enable quick battery swaps. The company has already installed 170 charging stations in Nairobi, laying the groundwork for broader adoption.
Accelerating Expansion with BII Support
With BII’s $5 million financing, ARC Ride plans to roll out 5,000 electric two-wheelers and rapidly expand its battery-swapping network. By building Africa’s first and largest automated battery-swapping system for electric two-wheelers, ARC Ride is setting a new industry standard that will benefit both itself and other manufacturers, accelerating Kenya’s transition to clean transport.
Environmental Impact: Reducing Carbon Emissions
This initiative, by replacing petrol-powered motorbikes with electric alternatives, is expected to cut over 100,000 metric tonnes of CO2 emissions annually, contributing significantly to Kenya’s environmental goals.
Leadership Perspectives on the Partnership
Daniel Wilcox, Economic Counsellor at the British High Commission in Nairobi,
highlighted the broader economic and environmental benefits:
- “There is great potential for green manufacturing in Kenya to drive economic growth and job creation. This investment supports Kenya’s climate ambitions and will make Nairobi a healthier, more attractive city to live and work in.”
Seema Dhanani, Head of Office, Kenya and Coverage Director, East Africa at BII,
emphasized the importance of electrifying Boda Bodas:
- “In Kenya, Boda Bodas are a vital part of daily transportation. Electrifying them is essential for a sustainable future. We are proud to back ARC Ride’s innovative approach to accelerate this transition.”
Joseph Hurst, CEO of ARC Ride, added:
- “This partnership marks a major milestone in scaling our operations across Africa. Together, we will help drive millions of clean kilometers, boosting riders’ incomes while protecting the environment.”
FAQ’s
What is ARC Ride, and what services do they offer?
ARC Ride is an e-mobility battery-as-a-service (BaaS) provider in Kenya that offers affordable and reliable battery-swapping solutions for electric two-wheelers.
How much funding has ARC Ride secured, and from whom?
ARC Ride secured $5 million in financing from British International Investment (BII) to expand its electric mobility services.
Why is electric mobility important for Kenya?
Electric mobility helps Kenya reduce transport-related greenhouse gas emissions, supporting its goal of a low-carbon transport system by 2030.
What challenges does ARC Ride address in Kenya’s EV market?
ARC Ride tackles limited charging infrastructure and high upfront costs by providing widespread battery swapping stations and flexible financing options.
What impact will this funding have on ARC Ride’s expansion?
The investment will enable ARC Ride to roll out 5,000 electric two-wheelers and grow Africa’s largest automated battery-swapping network, accelerating EV adoption.
Conclusion
ARC Ride’s recent $5 million funding marks a significant step toward transforming Kenya’s transport landscape through clean, affordable electric mobility. By addressing key barriers like charging access and upfront costs, ARC Ride’s battery-swapping network is making electric two-wheelers more accessible and practical. Supported by BII, this initiative not only drives economic growth and job creation but also plays a crucial role in reducing carbon emissions, paving the way for a greener, healthier, and more sustainable future for Kenya.
