Project Background

• Resource Background

  The Republic of Kenya is located in eastern Africa, abbreviated as Kenya. The equator runs through the central part and the Great Rift Valley runs north-south. It borders Somalia to the east, Tanzania to the south, Uganda to the west, Ethiopia and South Sudan to the north, and the Indian Ocean to the southeast, with a coastline of 536 kilometers. There are many plateaus within the territory, with an average elevation of 1500 meters. The land area is 583000 square kilometers. The coastal areas are plain areas, while the rest are mostly plateaus with an average elevation of 1500 meters.

  

• Construction of Charging Stations

  The Kenyan government has issued a new energy charging station construction plan, which is one of the few countries in Africa that clearly supports the development of new energy vehicles

  In the latest "Guidelines for Electric Vehicle Charging and Battery Replacement Infrastructure" released by the Kenya Energy and Oil Regulatory Authority, it is stated that the government will build 1000 electric vehicle charging stations, 700 charging stations in urban areas, and 300 stations along the highway. The main internal driving force behind this is that a large portion of the Kenyan government's foreign exchange is used to purchase oil, so President Luto's administration is more willing to develop the local new energy vehicle industry. In addition, the Luto government has been discussing the formulation of new energy tax rates, which are expected to be implemented in the near future.

  

• The huge fuel to electricity ratio has a particularly significant advantage in the travel market

  Kenya's oil prices have further increased, with car oil prices reaching 211 Kenyan shillings, and the advantage of the fuel to electricity ratio will become more apparent

  On September 15th, the Kenya Energy and Oil Authority raised the prices of gasoline and diesel by 21.32 and 33.13 shillings per liter, respectively. The prices of cars and diesel after the increase were 211.64 and 200.99 shillings, respectively.

  

• Kenya's power system KPLC will have a special advantage in electricity prices specifically for new energy charging piles

  KPLC will apply for a dedicated electricity meter for charging stations, and the original electricity price of 28 Kenshin shillings/kWh will be reduced to 17 Kenshin shillings/kWh. After midnight, the charging fee may be reduced to 8 Kenshin shillings/kWh.

  

Car Background

• Current situation of Kenya's automotive market: a huge and rapidly growing second-hand car market

  Kenya has a huge second-hand car stock market, and the annual growth rate of second-hand car transactions remains at 19.8%. At the same time, an average of 100000 second-hand cars are imported each year, and the vast majority of car models on the market are gasoline powered. There are huge market opportunities for micro cars that focus on the ride hailing market and minibus models for mass transportation.

  

Project Logic

• Kenya's ride hailing services mainly consist of micro and small cars such as Yaris, Vizi, Alto, etc. Among them, second-hand cars account for the vast majority, with high operating costs for drivers and poor passenger experience. Under the premise of similar purchase costs, using domestic "battery swapping mode" three box new energy vehicles to reduce the maintenance of mainstream models in this market. At the same time, introducing the overall operation system of domestic ride hailing services will have the opportunity to build a huge commercial system in Kenya.

  

Project Status

Goal Programming

• Goal Programming

  Helping RIDENCE LIMITED become the largest comprehensive operator of new energy vehicles in Kenya