BasiGo raises $6.6 million to start EV assembly in Kenya

Kenya-based mobility startup, BasiGo, has announced the close of $6.6 million in financing led by Mobility54, Trucks VC, and Novastar Ventures.

• This funding will enable the startup to kickstart the commercial delivery of locally manufactured electric buses and charging infrastructure through the company’s unique Pay-As-You-Drive financing model.
• After completing a six months pilot program in Nairobi, Kenya, the EV startup plans to deliver 15 of the 100 buses, manufactured using parts from China’s EV maker BYD Automotive.
• One of the biggest obstacles to electric bus adoption in emerging markets is the high upfront cost. BasiGo’s Pay-As-You-Drive model allows owners to purchase an electric bus for a similar upfront cost to a diesel bus.
• Operators then pay BasiGo a KES 20 ($0.17) per kilometre subscription fee which includes leasing of the E-Bus battery, charging at BasiGo charge stations, and comprehensive service and maintenance provided by BasiGo.
• In a statement, the startup said, buses delivered in 2023 will be locally assembled in Kenya, and aims to have over 1,000 electric buses deployed in Kenya by the end of 2025.