Kenya's electric vehicle (EV) market is in its early stages, with EVs comprising only 1.7% of new vehicle sales compared to internal combustion engine (ICE) vehicles. Despite this, EVs are driving market innovation, with new business models like Energy-as-a-Service (EaaS) emerging. These models aim to provide charging infrastructure and services, catering to diverse customer needs and potentially broadening the EV market's reach.
EVs are a new technology that are still expensive and unaffordable to many customers. The EV sector players, including assemblers, importers, energy-as-a-service providers, asset financiers, and infrastructure developers, are developing innovative business models to bridge the affordability barrier.
EVs, especially those that require large batteries like cars, buses, and trucks, cost about KES1.2 million ($9,300) and above while two-wheelers like motorbikes cost $1,350 to $1,500. Batteries alone can account for up to 40-60% of the total EV cost. This high price tag makes it difficult for many customers
