M Auto, e-Mobility Startup Secures Funding to Expand its Electric Motorcycle Fleet and Factory in Togo, Benin
M Auto, a’mobility as a service’ startup, has raised an undisclosed amount of money from Africa Transformation and Industrialisation Fund (ATIF), an Africa-focused investment fund, to launch in Togo and Benin, making it Africa’s largest electric vehicle startup with 500 e-bikes on the ground and 3 000 ready for market.
M Auto’s objective is to give all African users with access to innovative and sustainable electric transportation solutions that will improve their quality of life. For its green (zero carbon emissions), inexpensive (less than 2 dollars/day), digitally connected (IoT enabled system), and digitally enabled (IoT enabled system) e-bikes, the firm uses a lease-to-own model and delivers an unequaled mileage range via swappable charging battery stations.
“In the energy transition, Benin and Togo have the highest demand for commercial two-wheelers and the most proactive government policies for domestic manufacture.” “M Auto has been welcomed to establish production capacity in the industrial zone, which will encourage home-grown innovation and long-term development,” says Yasmeen Jawaharali, co-founder.
with innovative techniques that increase earning potential through the ownership of productive assets on the African continent. In Africa, its cost-effective and convenient mobility solutions encourage inclusion and environmental sustainability.
M Auto has commenced construction of its own factories in Togo and Benin, which will produce exclusive and specially designed e-bikes and batteries for the African market, allowing more employment to be created and ensuring that the process is run by Africans for Africans. Jawaharali’s objective is to quickly grow into neighboring markets and further beyond after a foothold is established in Benin and Togo.
According to Shegun Adjadi Bakari, an ATIF partner, “the investment in M Auto is entirely aligned with ATIF’s vision and goal to accelerate Africa’s industrial revolution and ecological transition while creating jobs and bringing people out of poverty.”
