Swap Station, others, to deploy electric vehicle accessories in Lagos, environs

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By Tosin Kolade

Swap Station Mobility Ltd. has signed a partnership agreement with Glovo and Siltech World to deploy electric vehicle accessories across the country.

The accessories include motorbikes, smart swappable batteries, and a network of quick interchange stations across Lagos State.

It may be recalled that the company, signed partnership agreements with  GlovoApp Nigeria Ltd. (Glovo) and Siltech World.

The partnership will provide Glovo couriers with two-wheel electric motorbikes that offer lower cost, clean mobility alternative to the internal combustion engine (ICE).

The Electric Vehicles (EVs) are provided on a lease-to-own model whilst also offering riders a unique “pay as you ride” or “weekly subscription” to access SSM’s battery swap and charging facilities.

It will also give technical support and cover for insurance, licensing, and routine maintenance services.

This is part of efforts to increase adoption to build out a network of solar powered automated quick interchange battery stations along major demand routes and logistics bases starting in Lagos and surrounding states over the next 24 months.

Blackaion Capital and FundCo Capital Managers who are the co-sponsors of Swap Station Mobility, believe the operational cost of battery swapping per kilometre (km) will remain substantially lower than the fuel cost per km for the ICE counterpart.

“This is the main value driver which has been catalysed by the Federal Government’s near elimination of fuel subsidies.

“The products are designed to exceed the performance of petrol alternatives whilst significantly improving CO2 emissions, local air quality, and cost efficiency for users over the life of the asset,” said Obiora Okoye, Director at Swap Station and Partner at Blackaion Capital.

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Okwu Njoku, who sits on the Board, said “We are very excited about signing with Glovo who operates one of the most prolific food delivery platforms in Nigeria.

“Our EVs and swappable batteries are in-country, and Siltech World, one of our key technology and technical partners, supported us with the procurement, testing, and certification of the EVs, and so, we are now ready to start operations.

“We plan to spend the next few months securing additional swap locations, building our technology platform, and expanding our team.”

Abiodun Oni, Chief Executive Officer (CEO) of FundCo Capital Managers, and former Regional Sales Director, Energy, for Tesla, stated, “e-mobility is critical to our sustainable infrastructure investment strategy, and this agreement with our partners enables us to kick start that process”.

On his part, Head of Operations at Glovo, Ify Adah stated, “ By 2030, our goal is to have about half of our orders delivered by non-combustion vehicles.

“So, we are very excited and look forward to working with Swap Station, and supporting our couriers with cleaner and more cost-effective transport solutions.”

The News Agency of Nigeria (NAN) reports that the company is an integrated EV financing and battery charging infrastructure development company that has built a business-to-business-to-consumer (B2B2C) platform.

It provides access to electric two-wheel and three-wheel vehicles, swap station infrastructure, swappable batteries, and a hub for repairs and maintenance services to fleet owners, businesses, and users operating in the logistics and last mile connectivity in Nigeria. (NAN) www.nannews.ng

Edited by Deji Abdulwahab

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