Roam, Mogo sign electric motorcycle financing deal

motorcycle battery

Rider Ezra Kipkemboi inspects the battery system of an electric motorcycle, during the launch of Africa's first electric service station for the electric motorcycles, the Roam hub, on May 26, 2023 in Nairobi. 

Photo credit: File | AFP

Swedish-Kenyan electric mobility firm Roam has inked a deal with Mogo to finance its Air motorcycle in a bid to accelerate the adoption of e-bikes in the country.

The partnership is set to support boda boda riders' access to the Roam Air motorcycle through various financing options from Mogo, an asset financier in East Africa.

"We're thrilled to partner with Mogo to tap into the expanding market of boda boda riders eager to transition to electric motorcycles amidst soaring petrol prices," said Mikael Gånge, co-founder of Roam.

Under the deal, the e-bike customers will be required to make a deposit of Sh25,000 and then pay Sh707 daily for the next 24 months. Alternatively, they can make a deposit and Sh820 daily for 18 months.

Mr Gånge said the e-bikes that will purchased under this deal will have a 12-month warranty depending on the part of the bike that's worn out.

The electric bike, which sells at Sh292,000 in cash, he said would be released to the customer immediately after the buyer makes a deposit of Sh,25000 and agrees to settle the balance on the timelines provided.

"Battery swapping is available and riders can charge their own batteries at home at Roam hubs," he said.

The partnership comes less than a year after Roam opened its 50,000-capacity electric motorcycle plant in Kenya.

At the time of the launch, about 20,000 motorcycles had already been assembled.

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