Ride-hailing giant Bolt has introduced electric tricycles to its Lagos market, marking the first time a major mobility service in Nigeria has deployed electric three-wheelers as part of its fleet.
The move is part of a broader strategy to cut operating costs for drivers and promote sustainable transport in one of Africa’s largest urban centers.
Unveiled at a launch event in Lagos, the initiative is in partnership with SGX Mobility, a company focused on the design and manufacturing of electric vehicles. Under the collaboration, SGX Mobility will handle vehicle production, while Bolt will deploy the electric tricycles to drivers through a lease-to-own model.
Bolt says the offering will help drivers reduce fuel expenses, bypass upfront vehicle purchase costs, and eventually own the tricycles after two years. SGX Mobility has secured financing partnerships to ease the entry burden, with drivers required to make an initial payment of ₦280,000 (about $185).
While lease-to-own models have struggled in Nigeria in the past, with platforms like LagRide and Moove facing pushback over high repayment terms and maintenance costs, SGX Mobility claims its electric tricycles are more cost-effective. The company declined to disclose the full unit cost but emphasized that lower maintenance and the deployment of battery-swapping infrastructure will keep running costs down.
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Battery swapping stations are central to the strategy. SGX Mobility plans to install them across Lagos, promising that swapping will cost less than half the current fuel price, which hovers around ₦462.50 per liter. With battery packs accounting for over 60% of electric vehicle costs, the success of this model will depend heavily on infrastructure rollout and operational efficiency.
Bolt previously piloted a tricycle service in Uyo in 2020. While little has been reported about that deployment, the company confirmed it remains active. For the Lagos launch, Bolt has not yet disclosed the operational zones, trip pricing, or estimated range of the electric tricycles.
