In a significant milestone for the electric vehicle (EV) industry in East Africa, Kenyan EV startup BasiGo has announced a $3 million (Ksh.397 million) investment from CFAO, the parent company of Toyota’s official distributor in Kenya.
This strategic investment will bolster BasiGo’s efforts to accelerate the adoption of electric mobility solutions in Kenya and Rwanda.
Founded in 2021 by Jit Bhattacharya (CEO) and Jonathan Green (CFO), BasiGo is pioneering a pay-as-you-drive model for electric buses in the public transport sector. The company launched its first electric bus in 2022 and has since gained momentum in the region.
“CFAO Kenya is committed to carbon neutrality with a dedication to enhancing production, distribution, and efficient utilization of clean energy. With a $3 million investment split between CFAO Kenya and Mobility54, we’re accelerating the scale-up of BasiGo’s electric bus offering in Kenya and Rwanda,” CFAO stated.
“Together, we’re investing in electric buses, driving innovation, and paving the way towards carbon neutrality in Africa. Our joint investment in electric buses is not just a step towards greener cities but a commitment to shaping a cleaner, brighter future for the children of Africa,” the company concluded.
This investment comes on the heels of BasiGo’s recent milestones, including the completion of its first locally assembled E9 Kubwa E-Buses in February and a $5 million (Ksh.660 million) investment from British International Investment (BII) in December 2023 to deliver 100 buses in Kenya.
Additionally, in November 2022, BasiGo secured $6.6 million (Ksh.804 million) from Mobility54, a venture capital arm of Toyota Tsusho, to begin the commercial delivery of locally manufactured electric buses and charging infrastructure.
With its ambitious plans to deploy at least 1000 electric buses in Kenya, Uganda, and Tanzania by the end of 2025, BasiGo is poised to play a pivotal role in the region’s transition towards sustainable transportation solutions.
As the demand for eco-friendly alternatives continues to grow, investments like CFAO’s support BasiGo’s vision of providing accessible and affordable electric mobility options, ultimately contributing to the reduction of carbon emissions and environmental impact in East Africa.
