KarryGo, RTEAN, ALT Bank sign partnership to deploy 10,000 electric tricycles

To transform Nigeria’s transportation landscape, KarryGo Transport Technology Company, Qoray Mobility, and the Road Transport Employers Association of Nigeria (RTEAN) have partnered to deploy 10,000 units of Qoray Teak electric tricycles over the next 12 months.

The landmark partnership agreement, executed in Abuja, aimed to reduce dependence on fossil fuels, decrease carbon emissions, and provide a cleaner, safer, and more sustainable last-mile transportation solution for millions of Nigerians highlighting the need for energy security and clean mobility to support the growth of an agile economy.

Over the next 12 months, 10,000 Qoray electric tricycles, accompanied by advanced charging and swap infrastructure and seamless payment solutions, will be deployed nationwide, providing much-needed relief to transport operators and passengers.

This ambitious initiative aligns with the Federal Government’s energy transition plan and demonstrates the partners’ deep commitment to sustainable development. Notably, The Alternative Bank’s financing of this project underscores their endorsement of innovative, viable solutions that drive positive change, further solidifying the partners’ collective efforts to transform Nigeria’s transportation landscape for a greener, more sustainable future.

Co-founder of KarryGo Transport Technology Company, Damola Akindolire, said that the transportation industry is a critical component of the Nigerian economy and the operations of the sector have been impacted by the rising cost of petrol.

“Therefore, our partnership with a key stakeholder such as RTEAN and its members who control over 70 per cent of the transport sector is a major landmark deal and marks the beginning of the energy transition and provision of mobility technology for the Nigerian transport sector,” Akindolire said.

Also speaking on the development, CTO and Co-founder of Karrygo Transport Technology Company, Ayomide Daniels, emphasised the lack of mobility technology infrastructure required to take the transportation sector from potential to realisation for the betterment of the economy, saying that “we are playing a key role in this space by building and deploying technologies built on the premise of blockchain, clean energy, Internet of Things to facilitate the payments and movement of people and goods across the country in record time and securely, and in doing so also helping respective government agencies with critical data needed for the improvements of the transportation sector and the security of passengers and goods across the country.”

“This partnership aligns with RTEAN’s vision to improve members’ welfare, reduce operational costs, and support the Federal Government’s clean energy initiatives,” added Alhaji Musa Maitakobi, President of RTEAN.

“We’re thrilled to deploy this practical, sustainable mobility solution in an ecosystem that provides the electric vehicles, charging, swap, payment, and performance assets, to reposition Nigeria’s last mile transportation system for new levels of social impact and environmental and economic efficiencies. This partnership reinforces our commitment to deepening the footprint of electric vehicles and infrastructure in Africa,” said Olabanjo Alimi, Managing Director, Qoray Mobility.