{"id":90712,"date":"2025-09-29T17:08:16","date_gmt":"2025-09-29T17:08:16","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/rc-ride-secures-10-million-for-battery-swapping-growth"},"modified":"2025-09-29T17:35:57","modified_gmt":"2025-09-29T17:35:57","slug":"rc-ride-secures-10-million-for-battery-swapping-growth","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/rc-ride-secures-10-million-for-battery-swapping-growth","title":{"rendered":"Rc Ride Secures $10 Million for Battery-Swapping Growth"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>Kenyan e-mobility startup Arc Ride has secured $10 million in debt financing from Mirova, a Paris-based sustainable investment manager, to expand its battery-swapping network for electric motorcycles. This marks the first time Mirova\u2019s $282 million Gigaton Fund has invested in Africa\u2019s electric vehicle sector, highlighting the growing demand for two-wheelers on the continent.<\/p>\n

For Mirova, which manages \u20ac33 billion in assets, this deal is more than just another investment. It represents a strategic entry into a market expected to grow by over 10% annually through 2029, with boda bodas\u2014motorcycle taxis that are the lifeblood of Nairobi\u2019s transport system\u2014playing a central role. The financing is structured as a five-year senior secured loan, and Arc Ride plans to deploy 600 battery-swapping cabinets and 25,000 batteries across Kenya.<\/p>\n

Arc Ride\u2019s CEO, Joseph Hurst-Croft, described the partnership as a \u201cmajor milestone\u201d in the company\u2019s mission to make electric vehicles more accessible and sustainable. This development follows a $5 million funding round in May 2025, aimed at expanding the company\u2019s electric motorbike fleet in Kenya.<\/p>\n

The company\u2019s Battery-as-a-Service (BaaS) model enables riders to swap a depleted battery for a fully charged one in minutes, reducing fuel costs and addressing the range anxiety often associated with electric vehicle adoption.<\/p>\n

For Kenya\u2019s boda boda riders, many of whom are gig workers facing fluctuating fuel prices, this could be a transformative shift. Transitioning to electric motorcycles eliminates fuel costs and reduces upfront ownership expenses, while also providing environmental benefits. Each electric motorcycle is estimated to cut about two tonnes of CO2 emissions annually compared to its petrol counterpart.<\/p>\n

Mirova explained that the deal is structured using blended finance to mitigate investment risk and attract further private capital in the future. The firm\u2019s local presence in Nairobi also played a key role in sourcing and structuring the investment. \u201cArc Ride is redefining urban mobility in Africa,\u201d said Rim Azirar, Deputy Head of Emerging Market Energy Transition at Mirova.<\/p>\n

For More News And Analysis About South-Africa<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. Kenyan e-mobility startup Arc Ride has secured $10 million in debt financing from Mirova, a Paris-based sustainable investment manager, to expand its battery-swapping network for electric motorcycles. This marks the first time Mirova\u2019s $282 million Gigaton Fund has invested in Africa\u2019s electric vehicle sector, highlighting the growing demand for two-wheelers on the […]<\/p>\n","protected":false},"author":84,"featured_media":90711,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[275],"class_list":["post-90712","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-south-africa-2"],"yoast_head":"\nRc Ride Secures $10 Million for Battery-Swapping Growth - South Africa<\/title>\n<meta name=\"description\" content=\"Kenyan e-mobility startup Arc Ride has secured $10 million in debt financing from Mirova, a Paris-based sustainable inve ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rc-ride-secures-10-million-for-battery-swapping-growth\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rc Ride Secures $10 Million for Battery-Swapping Growth\" \/>\n<meta property=\"og:description\" content=\"Kenyan e-mobility startup Arc Ride has secured $10 million in debt financing from Mirova, a Paris-based sustainable inve ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rc-ride-secures-10-million-for-battery-swapping-growth\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2025-09-29T17:08:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-09-29T17:35:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2025\/09\/sm_1759154588.448656.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rc-ride-secures-10-million-for-battery-swapping-growth#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rc-ride-secures-10-million-for-battery-swapping-growth\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Rc Ride Secures $10 Million for Battery-Swapping Growth\",\"datePublished\":\"2025-09-29T17:08:16+00:00\",\"dateModified\":\"2025-09-29T17:35:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rc-ride-secures-10-million-for-battery-swapping-growth\"},\"wordCount\":340,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rc-ride-secures-10-million-for-battery-swapping-growth#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2025\/09\/sm_1759154588.448656.jpg\",\"keywords\":[\"South-Africa\"],\"articleSection\":[\"all news\",\"miscellaneous\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rc-ride-secures-10-million-for-battery-swapping-growth#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rc-ride-secures-10-million-for-battery-swapping-growth\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rc-ride-secures-10-million-for-battery-swapping-growth\",\"name\":\"Rc Ride Secures $10 Million for Battery-Swapping Growth - 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