Roam Electric, Mogo Auto and BasiGo have each received $10 million in debt from the US government to support the design and development of electric motorcycles and buses as well as charging stations for motorcycles and buses throughout Kenya.
The $30 million was part of the more than $250 million new DFC financing package, announced as part of President Ruto’s State Visit to Washington, D.C., includes several multimillion-dollar commitments for critical projects in Kenya, such as financing new, affordable student rental housing in Nairobi, bolstering digital connectivity throughout the country, and advancing e-mobility and renewable energy, building on longstanding DFC support.
Roam Electric recently inaugurated its premier electric motorcycle showroom in Nairobi through a collaboration with electric mobility retailer Ridewell featuring the Roam Air, accessories, a wide selection of after-sales parts, and gear tailored for electric motorcycle enthusiasts. Equipped with a removable battery, the Roam Air offers a range between 75km and 100km, emphasizing convenience and sustainability.
The firm’s electric busses dubbed Rome Rapid, have a capacity to carry 90 passengers with room for both seating and standing commuters. The bus comes with a 384-kWh battery pack that allows for a range of 360 km and has the ability to fully charge in less than 2 hours through DC charging ports hence giving operators full flexibility to decide their charging and operating schedule.
Last year, the firm unveiled a new 50,000 motorcycle production facility to house it’s East African headquarters, electric motorcycle production lines as well as development/battery labs. The new facility, dubbed the Roam Park, will allow for an expanded production and have an annual capacity of 50,000 motorcycles while staying a carbon-neutral assembly, which are the goals in the coming years.
Roam had earlier partnered with M-KOPA in 2022 to sell electric motorcycles on credit in a move to decrease the barrier to entry for potential buyers by providing more manageable payment plans. Roam recently expanded these partnership with M-KOPA and Bolt and M-KOPA to allow new and existing drivers an opportunity to lease ROAM and Ampersand electric motorbikes at a discounted prices. The 5,000 electric motorcycle deal offers a cost-effective alternative for drivers, enabling them to maximise their earnings while minimising expenses.
Formerly known as Opibus, Roam in February 2024, raised $24 million Series A funding in equity and debt led by Equator Africa and includes investments from At One Ventures, TES Ventures, Renew Capital, The World We Want, and One Small Planet, among other prominent private and institutional investors. Through the International Development Finance Corporation (DFC), the U.S. Government promised Roam an up to US$10 million debt facility which has now been fulfilled.
