👨🏿🚀TechCabal Daily – ARC-ing for an EV market
In today's edition: ARC Ride expands to South Africa || Egypt’s biggest banks are taking more profits || South Africa frees unused mobile spectrum || Kenya recorded 11.12 billion cyber threats
ARC Ride, a Nairobi-based electric motorcycle startup, is expanding its operations to South Africa. The company aims to sell its Panther motorcycles to commercial fleets in Gauteng and the Western Cape. The expansion comes as South Africa aims to reduce fuel costs for riders by providing an alternative workhorse on the roads.
ARC Ride operates a battery-swapping model, which has gained popularity in Kenya. The swapping stations allow riders to exchange depleted batteries for fully charged ones within a minute. The company owns the batteries, eliminating the need for riders to purchase them. In Kenya, battery swaps cost around KES 185 ($1.40), while standard swaps can be as high as KES 270 ($2.10) depending on the usage.
Kenya has seen a rapid growth in electric motorcycle adoption due to the high cost of fuel and the need for last-mile delivery solutions. With South Africa's commercial motorcycles still in the early stages of development, ARC Ride believes there is a significant opportunity to introduce its battery-swapping model to the South African market. The startup plans to take advantage of the growing demand for last-mile delivery and the rising cost of fuel for commercial motorcycles.
Written by urgent.news from TechCabal's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
