Manufactured by SGX Mobility, the tricycles boast a top speed of 80km/h and a 12-hour range on a single charge
Bolt Introduces ₦3.2M Electric Tricycles in Lagos with 15% Driver Commission
Ride-hailing leader Bolt is launching electric tricycles in Lagos, advancing its electric vehicle (EV) strategy in West Africa. From May, Bolt will deploy 25 tricycles in collaboration with SGX Mobility, a local electric mobility firm, marking its first electric tricycle initiative in Nigeria.
Building on its existing tricycle services in cities like Jos and Uyo, Bolt is integrating electric tricycles into its Lagos app, allowing riders to select them as a transport option. Priced at ₦3.2 million ($1,996), the tricycles require a ₦208,000 ($130) down payment, with the balance spread over 18-24 months via weekly payments of ₦32,000 ($20) or monthly payments of ₦156,000 ($97). Daily battery swaps cost ₦6,500 ($4.06), about half the fuel cost of traditional petrol-powered tricycles.
“This isn’t just about vehicles; it’s about creating a sustainable ecosystem,” said Caroline Wanjihla, Bolt Africa’s spokesperson, at the launch event, as reported by TechCabal. “Our lease model enables drivers to own their tricycles within two years while cutting fuel and maintenance costs from the start.”
Bolt’s lease-to-own financing model aims to address concerns raised by drivers on platforms like Moove and LagRide, who have faced rigid repayment terms and vehicle repossessions. Bolt emphasizes affordability, flexible payments, and a reduced 15% commission rate compared to the 25% charged for other vehicles. “Our tricycles are cheaper, and the payment structure is driver-friendly,” said Zankyang Duniya, Bolt’s Operations Manager, during the press briefing.
Manufactured by SGX Mobility, the tricycles boast a top speed of 80km/h and a 12-hour range on a single charge. A battery swap station in Eagle Square, Surulere, ensures minimal downtime, supporting drivers’ daily earnings. The launch aligns with rising fuel costs, which have pushed local tricycle operators toward alternatives like compressed natural gas (CNG). However, CNG’s limited refueling infrastructure and conversion costs remain challenges, making Bolt’s EV model—with its promise of ownership and zero emissions—an attractive option.
Bolt is taking a measured approach, ready to adjust lease terms or redeploy assets if demand lags. Success in Lagos could see the model expand to other Nigerian cities and African markets like Ghana, Uganda, Tanzania, and Tunisia. With the right economic and infrastructural framework, Bolt believes Lagos is primed for an electric vehicle revolution. Read More
