Your next keke could be electric; here’s how Qore will achieve it

by MMC
0 comment

Qore, a Sterling Bank-backed company, promotes eco-friendly transportation in Nigeria by converting gasoline-powered vehicles into electric vehicles.

Nigeria’s transport sector is the biggest contributor to greenhouse gas emissions. But Qore, a renewable energy-based mobility company supported by Sterling Bank, wants to reduce emissions by converting light electric vehicles (motorcycles, tricycles and minibuses) into electric vehicles. These lightweight electric vehicles can travel up to 60km on a single charge, equivalent to 12 trips from Maryland to Ikeja General Hospital or 12 times on the Admiralty Highway.

“It simply requires us to remove the existing oil tanks and then replace them with batteries and electric motors,” said Akin Akingbogun, head of the Mobility team at Qore. In Nigeria, motorcycles, tricycles and minibuses are mainly used for passenger transport and deliveries. Qore recently launched a self-service public charging station in Lagos. It offers battery swaps for its light electric vehicles; users can exchange their depleted batteries for pre-charged batteries at Qore stations and pay for recharging and battery usage.

Lightweight electric vehicles can travel up to 60 km on a single charge. Image source: Qore Mobilité

Qore is testing prototypes and will deploy 100 tricycles in Kano next month. “We tried to look at all the basic physical clues, like range, temperature and other relevant information,” Akingbogun told TechCabal.

Although electric vehicles are cheaper to maintain than gasoline cars, they are expensive to convert. Olabanjo Alimi, group head of renewable energy and transportation at Sterling Bank, could not share cost estimates for these conversions. “Giving a figure for the conversion price of each vehicle would be misleading.” Qore’s approach is to focus on a group of customers rather than individual customers. “The more of these numbers we have, the better we can mix them and have more reasonable costs. “Alimi said.

Tricycles and minibuses are easily converted to electric vehicles, according to Qore's mobility manager.  Image source: Qore Mobilité
Tricycles and minibuses are easily converted to electric vehicles, according to Qore’s mobility manager. Image source: Qore Mobilité

Charging stations need electricity, and in a country where electricity supply is unreliable, Qore’s workaround is to use a combination of renewable energy and grid electricity supply . “We are having conversations with the (electricity) distribution companies that allow us to buy a volume of electricity as a primary source, and then we use renewable energy as much as possible as a backup source,” he said. declared.

Qore recently launched a new electric vehicle (EV) charging station in Lagos.  The facility can refuel two electric vehicles at once.  Image source: Qore Mobilité
Qore recently launched a new electric vehicle (EV) charging station in Lagos. The facility can refuel two electric vehicles at once. Image source: Qore Mobilité

Qore’s financing model

While the electric vehicle market on the continent is estimated to reach Worth $21.4 billion by 2027, short-term progress will be slow. For companies like Qore, it’s all about playing for the long term. “Anyone entering the electric vehicle market right now knows that it’s not something you start making money with in the first few days,” Alimi told TechCabal. Qore currently makes money by converting internal combustion engines into electric vehicles, as well as revenue from users paying to recharge their batteries.

Qore is currently financing two-wheelers and three-wheelers for public transport and is considering adding public cars and buses to its operations. “We can finance across all market segments. Getting up to private users or public transit buses is a little tricky because the amount of energy required to use these buses is enormous,” Alimi said.

Get the best African tech newsletters delivered to your inbox

You may also like

Leave a Comment

The news website dedicated to showcasing Africa news is a valuable platform that offers a diverse and comprehensive look into the continent’s latest developments. Covering everything from politics and economics to culture and wildlife conservation

u00a92022 All Right Reserved. Designed and Developed by PenciDesign