Electric cars firm Roam gets Sh3.8bn financing

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Participants board ROAM Move Shuttle bus during its launch at Green Park Bus Terminus in Nairobi on October 18, 2023. PHOTO | BONFACE BOGITA | NMG
 

Swedish-Kenyan electric vehicle firm Roam has raised $14 million from equity investors besides a $10 million debt commitment from the US government, taking its latest fundraising to $24 million (Sh3.8 billion).

The company says the funds will be used to expand its production of locally designed and assembled electric motorcycles and buses.

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