ELECTRIC BUSES

KCB Bank customers can now access financing options to purchase electric Public Service Vehicles (PSV) following a deal the bank has secured with e-mobility startup and financing company BasiGo Ltd.

The customers will enjoy funding of up to 90 per cent for an extended period of 36 months, a move that aims to support the reduction in greenhouse gas emissions and enhance the customers’ response to climate change through adaptation and mitigation measures.

Moreover, customers will be privileged to access embedded tracking and fleet management gadgets that will be already installed on the electric buses in addition to insurance financing for their vehicles.

On the other hand, BasiGo will provide servicing, charging, and maintenance of the batteries.

Speaking during the signing of the agreement, BasiGo Chief Executive Officer (CEO) and Co-Founder Jit Bhattacharya noted that the agreement with KCB is game-changing as it will make access to electric buses by PSV owners in the country affordable.

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“This deal will allow bus owners to secure asset financing for an electric bus exactly in line with how they have been purchasing diesel buses. With KCB’s pioneering support for this technology and BasiGo’s Pay-As-You-Drive (PAYD) financing, we have made electric buses more affordable and more convenient for owners to purchase and operate than a diesel bus,” said Bhattacharya.

The electric buses are available for purchase on a blended sale or operating mode where one can purchase a bus at a cost of Sh5million with BasiGo retaining the ownership of the battery within the bus.

BasiGo offers PAYD subscriptions at Sh20 per kilometer driven even as it mitigates the risks to PSV operators by guaranteeing battery performance and providing charging and maintenance for the bus throughout its life.

KCB Bank Director of Corporate Banking Esther Waititu noted that the deal is in line with the bank’s vision of leveraging partnerships that provide value to its customers.

“Entrenching sustainability in our operations means that we always consider our economic, social and environmental impact before we make any decision on partnerships and collaborations. We are delighted to partner with BasiGo as this reflects our commitment to supporting key customers to derive value from their long-standing loyalty,” said Waititu.

The deal also includes KCB SAHL Banking customers who under the Shariah-compliant banking model, will be able to purchase the electric buses from BasiGo at affordable rates.

The agreement is timely as it comes at a time many organizations are switching to green energy and sustainable practices by adopting the UN Sustainable Development Goals (SDGs) as a guide to help in reducing human-caused emissions of carbon dioxide by about 45 per cent by 2030.

SOURCE: Capital business

Swedish-Kenyan technology company Roam has launched an electric bus targeting public transport as the race for e-mobility hots up.

Dubbed Rome Rapid, the mass transit bus has a capacity of 90 passengers with room for both seating and standing commuters.

The company said in a statement that they were looking to create a mobility solution that is inclusive, modern, efficient and sustainable.

Roam joins Kenyan electric vehicle start-up BasiGo which has launched Sh5 million passenger electric bus as demand for environmentally friendly transport rises.

“The focus for the bus has been to design a robust vehicle with best in class carrying capacity, range and comfort to enable mass adoption of clean transport across the continent,” said Dennis Wakaba, Roam project coordinator.

The bus is equipped with a 384-kWh battery pack that allows for a range of 360 km It also has the ability to fully charge in less than 2 hours through DC charging ports, giving operators full flexibility to decide their charging and operating schedule.

Kenya has seen a growing demand for environmentally friendly transport with startups and local companies investing in the infrastructure and manufacturing of vehicles locally.

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E-mobility is a critical plank in the global push to reduce pollution with clean-powered vehicles that will significantly cut the reliance on diesel and super.

Car and General (C&G) also in January announced that it will start selling electric vehicles and tuk-tuks as part of a plan to diversify into the ‘green’ mobility business that is expected to grow amid a push to address climate change and pollution.

Electricity generator KenGen and supplier Kenya Power are currently angling to set up charging hubs of electric mobility units.KenGen has already set up one station in Nairobi and is now importing cars to test the hubs.

Kenya Power on the other hand announced on Tuesday that it would test its stations in Nairobi and Nakuru from next month. The utility firm has in the past said that it has enough electricity to charge 50,000 buses and two million motorcycles during off-peak hours.

SOURCE: Business daily

KCB partner with BasiGo To Finance the Purchase Of Electric Buses

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Swedish technology company launches electric buses in Kenya