What's Happening?
Waya Electric, a new player in Kenya's e-mobility sector, is ramping up operations for its B2B-focused electric motorcycles. The company aims to address the needs of heavy-duty, rural, and B2B contexts by offering performance-oriented products with high
torque and range capabilities. Waya Electric started with converting used motorcycles and has expanded to bespoke product jobs for cargo tricycles and passenger tuk tuks. The company is working on battery swapping technologies and an energy-as-a-service model to diversify its product offering and scale operations.
Why It's Important?
Waya Electric's expansion is significant for the electrification of Kenya's motorcycle taxi industry, which presents a large addressable market. By offering tailored solutions for specific applications, Waya Electric can enhance operational efficiency and reduce costs for businesses. The company's focus on interoperability and partnerships supports the growth of the e-mobility sector, contributing to environmental sustainability and economic development in Kenya.
What's Next?
Waya Electric plans to continue building its differentiated offering and grow traction in the market. The company is working on a blend of debt and equity raises to support its expansion. As the industry matures, Waya Electric anticipates greater value chain specialization and collaborative approaches to achieve mass adoption of electric motorcycles.
