£21.5m electrifying Africa’s bikes

Friday 30 August 2024

Breaking News: Ampersand Raises £16.3 Million to Electrify Africa’s Motorcycles

EV technology company Ampersand has secured a whopping $21.5 million (£16.3 million) in funding over the last year, dedicated to revolutionising Africa’s motorcycle industry by electrifying millions of motorcycles on the continent.

It’s no secret that motorcycles are a preferred mode of transportation in Africa, with over 100 million individuals relying on motorcycle taxis and delivery services daily. Additionally, organisations like Rider for Health heavily rely on motorcycles to provide essential healthcare services to remote areas.

Ampersand’s electric motorcycles boast a 45% reduction in operational costs compared to their petrol-powered counterparts and emit at least 75% fewer harmful emissions, making them an attractive and eco-friendly alternative.

Expressing his delight, Josh Whale, the CEO of Ampersand, stated, “The recent funding injection is a testament to the unwavering investor confidence in our business model as we strive to expand and introduce innovation within Africa’s e-mobility sector. With the ongoing trend of urbanisation, our mission to electrify transportation, slash carbon emissions, and promote clean economic growth has never been more critical.”

Whale further added, “This additional investment will drive the swift deployment of our EV energy technology and infrastructure to the masses, bringing us one step closer to realising our ambition of deploying five million electric motorcycles by the year 2033.”

Join the Net Zero Club News Network community now to uncover exclusive insights and updates on this remarkable initiative!

To access the complete article, simply log in or register with one of our membership tiers.