MAUTO, the African leader in two-wheeled electric vehicles dedicated to low-carbon mobility, has announced the closing of its first $5 million transaction in the voluntary carbon offset market. The signing of the agreement marks the largest electric vehicle carbon credit in Africa during the 27th United Nations Climate Change Conference (COP27) in Egypt.
Ambitious Plans By 2030
A financing agreement with Aera, Africa’s leading carbon credit trader, and myclimate, a non-profit Swiss climate protection group working to increase transparency in carbon footprint measurements, will be extended over the next three years. It will help immediately deliver on the continent’s commitment to a sustainable energy transition.
The contract includes reducing emissions from MAUTO, which plans to deploy more than 2 million electric motorcycles in Africa by 2030. MAUTO has been on the roads of Benin and Togo for four months with 2,700 electric motorcycles. The brand will launch in Rwanda by the end of the year.
Powered by 72V lithium batteries, the vehicles can reach speeds of up to 90 km/h and will help promote sustainable mobility in the two West African countries. It should be operational in more than a dozen African countries by 2030. The company aims to build an assembly plant in West Africa and employ more than 3,000 people.
Effective ways of financing the ecological transition in Africa need to be affordable and sustainable. This is true even though no population will accept it without strong support. Hergun Adjadi Bakari, the CEO of MAUTO and a partner at the African Transformation and Industrialization Fund (ATIF), stated this. MAUTO’s aim with this project is to show the world that it can swiftly execute its green transition plan across Africa. By removing transportation-related air pollution concerns, this project significantly improves urban citizens’ health. Additionally, this shows MAUTO’s power to change everyday life in African cities as it helps secure a healthier environment.
Aera Group President Fabrice Le Saché said that he was honored to be the continent’s carbon-finance pioneer for Africa’s largest electric motorbike program. He stated that by selling carbon credits, Aera Group increased the cost of leasing electric motorbikes. This would help MAUTO raise additional funds to speed up their rollout in Africa.
Aims To Address The Electrification Challenge
Besides accelerating the deployment of electric bicycles in Africa, this project will also address the challenge of electrifying. Substantial funding will be used to install photovoltaic charging stations as the roll-out progresses. This will enable electric vehicles to charge from the renewable power generated by their photovoltaic panels.
MAUTO hopes to create a carbon-neutral assembly plants by 2024 that are affordable, ecological and street-dependent transportation. They’ve been operational since 2019.