Ride-hailing company Bolt has launched its first fleet of electric tricycles in Lagos, marking a major step in its plans to scale electric vehicle adoption across West Africa.
Beginning in May, 25 electric tricycles—developed in partnership with Lagos-based mobility firm SGX Mobility—will be deployed across the city.
The rollout expands on Bolt’s existing tricycle operations in Nigerian cities like Jos and Uyo, but this is the company’s first foray into electric-powered “keke” services. Lagos riders can now select the EV tricycles directly via the Bolt app.
Each tricycle is priced at ₦3.2 million ($1,996), with drivers expected to make a ₦208,000 ($130) down payment. The rest will be paid through a flexible lease-to-own arrangement spread over 18 to 24 months. Drivers can choose to make weekly payments of ₦32,000 ($20) or monthly installments of ₦156,000 ($97). Daily battery swaps will cost around ₦6,500 ($4.06)—about half the daily expense of petrol.
“This launch is about building an ecosystem, not just introducing vehicles,” said Caroline Wanjihla, Bolt Africa’s spokesperson, at the official unveiling on Wednesday. “We’re betting on driver economics. EV tricycles have lower running costs. And with our lease model, drivers can own their vehicles in two years, while saving on fuel and maintenance from day one.”
The company’s lease-to-own financing model comes at a time when similar arrangements from competitors like Moove and LagRide have drawn criticism over rigid repayment schedules and high default rates. Bolt claims its model is different, offering lower upfront costs, more predictable payments, and a reduced commission rate of 15%, compared to the industry standard of 25%.
“With LagRide and Moove, we’re looking at more expensive vehicles,” noted Bolt Operations Manager Zankyang Duniya. “The tricycles are much cheaper, and the payment is flexible.”
Each electric tricycle can reach speeds of up to 80km/h and run for 12 hours on a single charge. The system operates on a battery swap model, with drivers able to quickly replace depleted batteries at a dedicated station in Eagle Square, Surulere. The swap infrastructure is aimed at reducing downtime and ensuring consistent daily income for drivers.
The move comes amid rising fuel prices that have forced many tricycle operators to seek alternatives. Some have turned to compressed natural gas (CNG) conversions, but the high cost of retrofitting and patchy refueling infrastructure have limited widespread adoption. Bolt’s EV model offers a cleaner, ownership-oriented alternative with lower operating costs.
While Bolt is taking a cautious approach in the early stages, it says it is ready to adjust leasing terms, redeploy vehicles, or slow the rollout if demand lags. But if the Lagos pilot proves successful, the company plans to scale the model to other Nigerian cities and expand into Ghana, Uganda, Tanzania, and Tunisia.
With the right mix of affordability and infrastructure, Bolt is betting that Lagos—and Africa at large—is ready for a new era of electric mobility.
