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Emerging Growth Stocks in India Strategic Market Insights ✌️【Risk Avoidance】✌️ Real-time updates of global stock indices and futures trends to help you plan precise investments. Spiro’s goal is not only “to reduce pollution sources, but to eliminate them,” Samain tells 【 - Free Real-Time Trading Opportunities 】. Once an old bike has been traded in, the parts will be recycled and repurposed, he explains, adding that the company has held “crushing events” in both Benin and Togo, where motorized vehicles are publicly flattened before the material is reused.

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Emerging Growth Stocks in India Strategic Market Insights ✌️【Risk Avoidance】✌️ Real-time global stock, futures, and forex data to help you master market dynamics. A2022 reportfrom the FIA Foundation, an international transport and road safety charity, found that while the purchase price of electric motorcycles is currently greater than that of petrol-powered motorcycles, the operating costs are cheaper. It says that in many African countries, one liter of petrol will power a bike for about the same distance as one kilowatt-hour of electricity but will cost five to 10 times more.

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But for battery-swapping to work, there needs to be “reliable and accessible charging infrastructure,” says Samain. “Before distributing the first bike, we build a network of swapping stations, and they aren’t placed randomly: we carefully study the terrain and position our swapping stations in both urban and rural areas, ensuring extensive coverage.”

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Kenya’s president William Ruto, speaking in the coastal city of Mombasa at the launch of the initiative, said: “It creates jobs and transfers knowledge, technology and skills to our market in a very sustainable way.”

Emerging Growth Stocks in India Strategic Market Insights ✌️【Risk Avoidance】✌️ Real-time global stock, futures, and forex data to help you quickly assess market trends and achieve stable returns. According to theFIA Foundation, there were 27 million motorbikes registered in sub-Saharan Africa in 2022, rising from just 5 million in 2010, with around 80% of them used in the motorcycle taxi industry. The demand for two-wheelers is expected to grow even further, witha report from management consulting firm McKinseyestimating that electric and petrol motorbikes will make up over 45% of sub-Saharan Africa’s overall vehicle fleet by 2040.

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Emerging Growth Stocks in India Strategic Market Insights ✌️【Risk Avoidance】✌️ Real-time global stock trend and futures data to help you plan investment strategies for long-term returns. Spiro, formerly known as M-Auto, is just one of the startups fueling this transition. Swedish-Kenyan startup Roam (formerly Opibus), which converts old vehicles to run off electric motors, opened East Africa’slargest electric motorcycle assembly plantearlier this year, while Ampersand has a fleet of around1,000 bikesas well as a small network of battery-swap stations across Kenya and Rwanda. Last week, US company Uber alsolaunched an electric motorbike service in Kenya, promising to roll out 3,000 bikes within six months.

But the scale of Spiro’s Kenya expansion dwarfs all existing fleets. “We’re surpassing the symbolic but significant milestone of one million electric bikes signed with a government,” says Samain. The startup has its foot on the accelerator, and by 2030, he wants it to be operating in at least 10 African countries.

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