Kenya’s EV Innovator, ARC Ride, Secures $10 Million from Mirova to Electrify Mobility
Kenya’s burgeoning electric vehicle (EV) sector has received a significant boost with ARC Ride, a leading Kenyan electric mobility company, announcing a $10 million investment from Mirova, a Paris-based sustainability investment manager. This landmark funding marks Mirova’s inaugural electric vehicle investment across the African continent, signaling a growing international confidence in Africa’s potential for sustainable transport solutions. The injection of capital is set to accelerate ARC Ride’s ambitious plans to revolutionize urban transport, particularly for the vital motorcycle taxi industry in Kenya, contributing to cleaner, more efficient urban environments.
Catalyzing Sustainable Transport Through Strategic Expansion
This investment underscores a powerful trend of global capital recognizing and supporting African tech and green energy initiatives. It promises to transform the daily lives of countless riders while simultaneously contributing to cleaner air and a reduced carbon footprint in Kenyan cities, paving the way for a more sustainable future for urban mobility in Africa.
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