Industry overview
The electric vehicle (EV) industry in East and West Africa is still in its early stages, but is gathering momentum. Growth is being driven by three key factors: supportive government regulation, the removal of fuel subsidies, which has led to higher petrol prices, and the increasing flow of blended finance and development capital into climate-friendly infrastructure.
A key catalyst is the rise of the Battery-as-a-Service (BaaS) model, where riders swap depleted batteries for charged ones at conveniently located stations rather than refuelling with petrol or waiting hours for plug-in charging. Most players apply this model to the two-wheeler market, retaining ownership of lithium batteries and running swap stations. Riders lease the motorcycle or battery and can swap units within minutes. This structure addresses two of the biggest barriers to EV adoption: the high upfront cost of batteries and the downtime required for charging.
BaaS is transforming the two-wheeler segment in
