Bolt users in Lagos can now book electric tricycles through the app, marking a first for Nigeria’s ride-hailing industry.
This new service was introduced at an event showcasing Bolt’s electric tricycle fleet.
The initiative is in partnership with SGX Mobility, a company specializing in electric vehicle design and production.
Under this collaboration, Bolt will provide the electric tricycles to drivers, while SGX Mobility is responsible for their manufacturing.
Bolt’s Regional Director of Rides Operations for Africa and International Markets, Caroline Wanjihia, explained that this move aims to reduce costs for drivers.
The platform will also offer a lease-to-own model, allowing drivers to own their tricycles after two years of payments.
Financial institutions will assist drivers in financing the vehicles, according to Dele Awofala, an executive at SGX Mobility.
However, challenges with lease-to-own schemes in Nigeria have been reported in the past, with drivers facing difficulties in meeting payment obligations.
Awofala argued that electric tricycles would be more affordable compared to other vehicles offered by similar platforms.
The down payment for the electric tricycles will be ₦280,000, although the full cost of the tricycles has not been revealed.
While electric vehicles generally have higher upfront costs due to expensive batteries, SGX Mobility plans to install battery-swapping stations across Lagos.
The cost of battery swaps will be significantly lower than the current petrol price.
Despite these cost-saving measures, the success of the service depends on the availability of these stations and the overall infrastructure in Lagos.
This is not the first time Bolt has attempted to launch a tricycle service in Nigeria. The company introduced a similar service in Uyo in 2020, though it remains unclear how successful that service has been.
As of now, Bolt has not disclosed the specific locations or pricing for the electric tricycles in Lagos.
