US Ambassador to Kenya, Meg Whitman, recently toured the Kenya Vehicle Manufacturers (KVM) high-volume E-Bus assembly line operated by BasiGo Limited in Thika.
During her visit, it was announced that BasiGo has secured a significant $10 million loan to expand its fleet of electric buses. The funding is expected to boost the company’s electric bus production from 24 to 168 units by 2025.
The loan, facilitated by the U.S. International Development Finance Corporation (DFC), will enable BasiGo to ramp up its production capacity.
Currently producing five electric buses per month, the company plans to increase this number to 20 buses per month with the new funding.
This expansion is poised to enhance urban mobility options and support Kenya’s efforts to reduce greenhouse gas emissions.
Vibhuti Jain, the Regional Managing Director for Africa at DFC, emphasized the impact of the loan.
“This investment will significantly contribute to increasing the production capacity of BasiGo, helping them meet the growing demand for electric buses and support Kenya’s climate goals,” Jain said.
During her visit, Ambassador Whitman reaffirmed the commitment of the U.S. to continue its trade agreement negotiations with Kenya.
She highlighted the importance of such collaborations in promoting sustainable development and enhancing bilateral trade relations.
“The United States is dedicated to supporting Kenya’s growth and innovation, and this investment in electric mobility is a prime example of our commitment to a sustainable future,” Whitman stated.
Jit Bhattacharya, CEO and Co-Founder of BasiGo, expressed gratitude for the loan, noting its significance in advancing urban mobility and supporting Kenya’s climate action plans.
“This loan facility will play a crucial role in strengthening our capacity to provide clean and efficient transportation solutions.It aligns with Kenya’s National Climate Change Action Plan and will help us create new opportunities for transit company owners while contributing to environmental sustainability,” Bhattacharya said.
The collaboration between BasiGo and DFC marks a notable step towards expanding electric vehicle infrastructure in Kenya, promising a greener and more sustainable future for urban transportation.
As the country continues to embrace e-mobility, such investments are expected to drive significant progress in reducing carbon emissions and fostering economic growth.
