e-mobility startup M Auto raises undisclosed funding to launch in Togo & Benin

WEST AFRICA – M Auto, a ‘mobility as a service’ startup has raised undisclosed funding from Africa Transformation and Industrialisation Fund (ATIF), to launch in Togo and Benin.

 The move will see it as the largest electric vehicle startup in Africa with 500 e-bikes on the ground and 3 000 bikes ready for market.

M Auto’s mission is to provide access to innovative and sustainable electric mobility solutions to improve the quality of life of all African users.

The start-up believes that Africans deserve quality, affordable technology in order to be their own bosses.

The platform uses a lease-to-own model for its green (zero carbon emissions), affordable (less than US$2/day), digitally enabled (IoT enabled system), e-bikes, and offers an unparalleled mileage range via swappable charging battery stations.

Benin and Togo have the biggest demand for commercial two-wheelers and progressive government policy for domestic manufacturing in the energy transition,” said Yasmeen Jawaharali, co-founder of M Auto.

M Auto has been welcomed to build manufacturing capacity in the industrial zone that will boost home-grown innovation and sustainable development in the long-term.”

M Auto has begun building its own factories in Togo and Benin that will manufacture exclusive and specially designed for the African market e-bikes and batteries allowing to create more jobs and ensuring that the process is by Africans for Africans.

Benin and Togo are just the starts; Jawaharali’s ambition is to quickly expand into neighboring markets and further afield after the foothold is established.

M Auto is backed by the Africa Transformation and Industrialisation Fund (ATIF), an Africa-focused investment fund.

Shegun Adjadi Bakari, a partner at ATIF who has over 15 years of experience in Finance and Project Finance in both the European and African markets, believes that net-zero cannot be achieved without Africa.

He maintains that through the adoption of a clean energy transition that results in job creation, Africans can be lifted out of poverty.

Solutions to real-world problems and opportunities for people to step up the income ladder are the only way to get Africa to net-zero,” he explains.

The investment in M Auto is fully aligned with ATIF’s vision and mission to accelerate Africa’s industrial transformation and ecological transition while creating jobs and lifting people out of poverty.”

Launching in Togo and Benin is the next stage of M Auto’s growth and first international expansion, having successfully proved the technology, financing, and charging infrastructure model works. Long-term plans include expanding into the rest of Africa.

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