Leading ride hailing platform, Bolt is se to expand its electric vehicle (EV) footprint across West Africa with the rollout of electric tricycles in Lagos. Starting from May, 25 electric tricycles—developed through a partnership with Lagos-based SGX Mobility—will hit the streets of Lagos.
Starting in May, the company will deploy 25 tricycles developed in partnership with SGX Mobility, a Lagos-based electric mobility company.
Speaking during the press briefing, the Operations Manager at Bolt, Zankyang Duniya said, “With Lagride and Moove, we are looking at more expensive vehicles. The tricycles are much cheaper, and the payment is flexible. We are also tweaking the model to allow for 15% commission as opposed to 25% charged on vehicles”.
The launch builds on Bolt’s existing tricycle business in Nigeria, where it already offers keke rides in cities like Jos and Uyo. But this is its first electric version in the country. Riders in Lagos can now choose electric tricycles as a ride option directly in the Bolt app.
Each electric tricycle will cost ₦3.2 million ($1,996), with drivers required to make a ₦208,000 ($130) down payment and spread the rest over 18 to 24 months. Lease payments come in at ₦32,000 ($20) weekly or ₦156,000 ($97) monthly.
Daily battery swaps cost around ₦6,500 ($4.06)—roughly half the daily fuel cost of a petrol-powered keke.
Bolt is also operating a lease-to-own financing model that has recently come under scrutiny. Drivers on platforms like Moove and LagRide have long complained of inflexible repayment terms, mounting defaults, and vehicle repossessions. Many ended up working long hours just to break even.
The management says its lease-to-own model is built differently with lower entry costs, predictable weekly payments, and a lower commission rate.
