Spiro, the fast-growing electric mobility company based in Africa, has just secured a historic US $100 million funding round – marking the continent’s largest-ever investment in two-wheel electric transport. And if you haven’t been paying attention to the battery-swapping boom across Africa, now might be a good time to start.
We’ve seen battery-swapping take off around the world, with leaders like Gogoro in Asia, Swobbee in Europe, and Vammo in South America, all demonstrating the effectiveness of swappable battery networks for major two-wheeler markets. But don’t count Africa out, either. Spiro has spent the last few years building up its own homegrown battery swapping network for its locally-built electric motorcycles, and is now set to jump-start that impressive growth with a mega funding round.
The impressive fundraising round was led by The Fund for Export Development in Africa (FEDA), the impact investment arm of Afreximbank, which contributed US $75 million. The funding will allow Spiro to dramatically scale its fleet of electric motorcycles and expand its already impressive network of battery-swapping stations across the continent.
Swapping gas for watts
Spiro’s model is simple but powerful: affordable electric motorcycles backed by a vast battery-swapping network that eliminates the wait time and charging infrastructure hurdles that typically slow down EV adoption. With over 60,000 electric motorcycles already on the road, more than 1,200 battery swap stations, and 800 million kilometers of low-carbon travel already under its belt, Spiro is building what it claims is Africa’s largest clean two-wheeler ecosystem – and it’s growing fast.
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In fact, the company expects to deploy over 100,000 vehicles by the end of 2025, representing a 400% increase year over year. It’s a lofty goal, but Spiro’s rapid growth over the last few years demonstrates that it’s still attainable.
“Africa is at an inflection point in personal mobility. Riders are rapidly shifting from internal combustion motorcycles to Spiro’s more affordable and accessible battery-swapping ecosystem and motorcycles. For the first time, riders are embracing sustainable transportation because it performs better, costs less to operate, and offers greater profitability than traditional gas-powered vehicles,” said Kaushik Burman, Spiro’s CEO. “This is just the beginning – we’re just getting started.”
I had the chance to speak with Kaushik last month, where he explained to me how a big part of Spiro’s success is helping motorcycle taxi riders – the majority of its customers – achieve a higher standard of living by becoming more profitable with electric motorcycles over gasoline-powered motorcycles. The bikes aren’t just cheaper to purchase, but significantly cheaper to operate, meaning riders can as much as double their daily take-home pay. With that kind of economics, it makes sense why Spiro is seeing such high demand for its motorcycles and battery-swapping network.
More than motorcycles
While Spiro’s bikes are the vehicle – literally – for this transition, the real secret sauce is the swapping network. Riders don’t need to charge at home or wait around for a plug. They just pull into a station, swap out a depleted battery for a fresh one, and get back on the road. It’s a system that’s already proven effective in other regions around the world, and Spiro is now proving it can work at scale in Africa too.
The investment here is also about more than just clean transportation. According to Professor Benedict Oramah, president of Afreximbank, it’s part of a broader push to boost intra-African trade, create local manufacturing jobs, and reduce dependence on imported, second-hand gas-powered vehicles.
“We are delighted to partner with Spiro on this transformative initiative,” said Oramah. “Together, we are laying the groundwork for a new era of intra-African trade and industrialization by stimulating local vehicle manufacturing, strengthening regional integration, and enhancing trade flows.”
Made in Africa, for Africa
Founded in 2022, Spiro is leaning into local production as part of its growth strategy. The company has assembly facilities operating in Uganda, Kenya, Nigeria, and Rwanda, with new pilot programs now underway in Tanzania and Cameroon.
This latest funding builds on more than $180 million already raised from backers like Equitane and Société Générale, further underscoring investors’ confidence in Spiro’s model.
“Spiro’s rapid expansion into new markets demonstrates the immense appetite for clean, affordable, and efficient transport across the continent,” said Gagan Gupta, Chairman of Equitane. “With FEDA’s support, Spiro is exceptionally well positioned to scale even faster.”
Electrek’s Take
While most electric motorcycle battery swapping headlines are dominated by Europe, the US, or China, this is a powerful reminder that Africa is carving out its own lane – and it’s doing it with a smarter, scalable approach that solves local problems in local ways. Battery swapping may not be the answer everywhere, but it’s proving to be a perfect solution in dense urban areas where fuel is expensive and charging access is limited.
And if Spiro hits that 100,000-vehicle goal next year? Well, don’t be surprised if Africa ends up leading the world in practical, everyday e-mobility adoption. After all, doesn’t a 100 kg electric vehicle make a lot more sense for a quick taxi trip than a 2,500 kg one?
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For those who don’t remember, the rollout of the previous refresh was terrible. Tesla took orders for almost a year, but it waited for almost another year to start deliveries due to problems ramping up production.
Now, it appears that deliveries in Europe will occur within 6 months of the refresh and within weeks of ordering for most people.
That said, the mid-cycle refresh has been considered mild and isn’t likely to have a significant impact on sales.
I wouldn’t expect more than a few thousand Model S/X sales in Europe per year.
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Uber gets it. The rideshare behemoth has observed the upward trend of EV adoption across its database of customers and drivers and is helping to support that transition. Beginning today, the “Uber Green” ride option is now called “Uber Electric,” visible to all app users worldwide. To celebrate the transition, Uber is offering discounted rides for those opting for electric vehicles, and drivers may also qualify for a $4,000 grant.
At this point, Uber is a household name in the rideshare and logistics industries. Hell, it’s even a verb at this point. You don’t get this far without innovation and foresight, something the $200 billion company has excelled at to constantly evolve and adapt.
I recall when Uber initially offered only black town cars. Now you can order an UberX, Uber XL, Uber Comfort, Uber Eats, Uber Pet, rent a car, order groceries… the list goes on. In terms of electric vehicle adoption, Uber has long shown interest in the technology and quickly understood that EVs are ideal for the gig economy that comprises its market.
We’ve seen Uber partner with several autonomous vehicle developers, many of which operate fleets of electric vehicles. In fact, we’ve covered so many partnerships between Uber and other exciting mobility companies that we can’t begin to name all of them.
Today, Uber has recognized the dwindling incentives available to US drivers interested in going electric and has tweaked its rideshare offerings to promote more sustainable options.
Source: Uber
Uber Green goes full-electric worldwide today
According to an email sent from Uber this morning, Uber Green has been renamed Uber Electric. Per the company, the new name “reflects record EV growth on our platform, making it easier for riders to choose zero-emissions rides.”
Uber elaborated that over 200,000 EVs are driving on its global network, and 1 in 4 of its customers say their first-ever EV ride was through the Uber app (I hope it wasn’t in the back seat of a Model Y, because that’s a rough ride).
Today’s transition builds upon Uber’s decision to make Uber Green (a mix of hybrids and EVs) fully electric in the US earlier this year. Those parameters now apply to the entire rideshare network. Pradeep Parameswaran, Global Head of Mobility at Uber, spoke:
Uber Electric is more than a new name, it represents the real progress we’ve made toward electrifying our platform globally over the past five years. Thousands of drivers are leading the charge, choosing electric and helping cities improve air quality. We’ll keep supporting drivers by removing barriers to EV adoption and working with cities to improve access to charging.
To celebrate the transition to Uber Electric, the company is offering customers 20% off (up to $8) their next EV ride when they use promo code GOELECTRIC20 (valid for 7 days).
Additionally, Uber has recognized the expired federal grant of $4,000 for used EV purchases in the US and is keeping that incentive alive in certain states to entice drivers to continue to go fully-electric. The company’s “Go Electric” grants will offer eligible Uber drivers up to $4,000 toward new and used electric vehicle purchases, but only in the following regions:
California
Colorado
Massachussetts
New York City
Uber’s grant can be combined with other individual state incentives, making it easier than ever for drivers to go electric, depending on their state. Uber pointed out that US drivers nationwide can still receive $1,000 toward any new or used EV purchased through TrueCar.
Go electric! Opt for the EV option on your next ride and use that discount code!
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Tesla is recalling approximately 13,000 recent Model 3 and Model Y vehicles built earlier this year due to a battery pack defect that can result in power loss.
In August, Tesla started getting reports of power losses in new Model 3 and Model Y vehicles.
After reviewing 36 warranty claims and 26 field reports, the automaker identified a defect in some battery pack contactors that could potentially affect approximately 8,000 Model Ys and 5,000 Model 3s built in the US between March and August 2025.
Tesla wrote in the recall notice:
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The recall population includes certain Model Year (“MY”) 2025 Model 3 vehicles manufactured between March 8, 2025, and August 12, 2025, and MY 2026 Model Y vehicles manufactured between March 15, 2025, and August 15, 2025, that are equipped with a battery pack contactor manufactured with InTiCa solenoid.
If the battery pack contactor opens when the vehicle is in drive, it loses power and ability to apply torque, which may increase the risk of a collision – hence the safety recall.
The automaker identified Sistemas Mecatrónicos InTiCa S.A.P.I., a tier 2 supplier in Mexico, and SongChuan, a tier 1 supplier in Taiwan, as being involved in the recall.
Tesla confirmed that it is contacting all potentially affected owners and it will replace the affected contactor with “a certified contactor that does not contain InTica solenoid and that maintains coil termination connection” at no cost to owners.
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