Spiro set to launch EV assembly plant in Nigeria next year
Joseph Olaoluwa
Spiro, a major electric mobility operator in Africa, is set to launch its first electric vehicle (EV) assembly plant in Ogun State, Nigeria, by the end of March 2025.
This move will strengthen Spiro’s position in West Africa’s EV market and reduce reliance on imported vehicles and batteries.
“The plant will be operational in the first quarter of 2025 and will enable us to ramp up production to 100,000 bikes,” said Rahul Gaur, its director for West Africa. “This includes localising the manufacturing of three-wheelers and batteries.”
This development comes six months after Spiro’s entry into the Ogun State market, with 22,000 electric motorbikes already deployed across sub-Saharan Africa.
The new plant will boost production from the current 1,000 units in 2024 and mark the company’s entry into the three-wheeler segment. Spiro will also develop public fast-charging infrastructure in Nigeria. Testing of three-wheelers is set to commence in January 2025 across various states.
Founded in 2019 by the Abu Dhabi-based investment firm Africa Transformation and Industrialization Fund, Spiro has deployed over 10,000 electric bikes across Benin, Togo, Rwanda, and Kenya.
Spiro’s business model revolves around battery swapping, offering riders access to swapping stations, fast and slow chargers, and home charging solutions. Strong government support has contributed to the company’s success, with partnerships secured with at least three African governments.
It has invested over half of its $143 million in funding to reach its current scale. Further expansion plans require significant investment, with an estimated $100 million needed to deploy an additional 10,000 bikes. The company is pursuing aggressive expansion plans, with operations set to commence in Tanzania, Ghana, and Cameroon in the coming months.
