A New Era of Electrification
Spiro, a pioneering electric vehicle (EV) company, has announced its expansion into Ogun State, Nigeria. This strategic move aims to revolutionize the country’s transportation landscape through cutting-edge electrification technology.
Expansion Plans: Reaching New Locales
Building on its success in other regions, Spiro is set to extend its operations across various local governments within Ogun State. This expansion is the culmination of a proposal initiated six months ago and has since received robust support from Governor Dapo Abiodun.
Enhancing the Riding Experience
Specializing in two-wheeler EVs, Spiro is renowned for its state-of-the-art State of Charge (SoC) technology. This innovative system allows riders to access a network of swapping stations, offering both fast and slow charging options, including convenient remote (home) charging solutions. These advancements are designed to elevate the riding experience and promote eco-friendly transportation.
Expanding Across Africa
Spiro’s presence is already established in several sub-Saharan African countries, including Togo, Benin, Uganda, Kenya, and Ghana, where it has deployed over 18,000 electric motorbikes. The company now aims to expand its services in eight districts across Nigeria, with key areas of focus including Abeokuta, Lagos, Abuja, and Oyo states.
Evolution and Advocacy
Founded in 2019 as M Auto Electric, Spiro has a rich history of contributing to the auto-rickshaw industry and advocating for gender inclusion in transportation for over eight years. This legacy underscores the company’s commitment to innovation and social impact.
SoC Billing System: Transparent and Fair Charging
One of Spiro’s hallmark features is its SoC billing system, which ensures a fair and transparent charging model. Unlike traditional methods, this system calculates costs based on the precise amount of charge added to the battery, ensuring customers pay only for what they consume.
Building Infrastructure in Abeokuta
The first phase of Spiro’s deployment in Abeokuta has seen the establishment of three battery swap stations located at MKO Abiola stadium, Pansheke skating ground, and Oke Sokori. Each station offers services for charging 24 batteries, creating a network capacity of 72 chargeable batteries across these locations.
Collaborating for Clean Energy
To further its mission of sustainable energy, Spiro has formed strategic alliances with Max, Dot, and Onocon, organizations that share a commitment to advancing clean, green energy technologies for eco-friendly transportation.
Fueling Expansion with Afreximbank Support
In May 2024, Spiro secured $50 million in debt financing from Afreximbank, a prominent pan-African financial institution. This substantial funding is intended to accelerate Spiro’s growth into additional African markets, including Cameroon and Morocco.
Addressing Greenhouse Gas Emissions
The shift towards electric vehicles, championed by Spiro, addresses Nigeria’s 7% annual increase in greenhouse gas emissions. Embracing EV technology is expected to improve air quality in urban areas, reduce the country’s reliance on imported fuel, and contribute to global climate change mitigation by decarbonizing the transport sector.
