- MAUTO, the largest electric vehicle start-up in Africa, announced the first US $5 million transaction in the voluntary carbon offset market.
- The funding agreement with Aera, Africa’s leading carbon credit trader, and myclimate, a Swiss non-profit climate protection organisation will be spread over the next three years.
MAUTO, the largest electric vehicle start-up in Africa, announced the first US $5 million transaction in the voluntary carbon offset market.
The funding agreement with Aera, Africa’s leading carbon credit trader, and myclimate, a Swiss non-profit climate protection organisation will be spread over the next three years. The signing of the deal at a time when COP27 is still happening in Egypt will be a major step for Africa to meet its commitments to a sustainable energy transition. The deal is also considered the largest in Africa in terms of carbon credits for electric mobility.
The company’s target is to deploy over 2 million electric motorbikes in Africa by 2030 with a commitment to cut down emissions generated by MAUTO. MAUTO has been growing its presence in Africa. It has a presence in Benin and Togo with 2,700 electric motorbikes on the road. During the course of the current year, the company plans to roll out its vehicles in Rwanda. The target of the company is to be operational at least in ten countries across Africa by 2030 offering ecological and urban mobility to people by reducing traffic pollution, a major public health concern for urban populations.
The $5 million deal, apart from increasing the deployment of electric two-wheelers in Africa, will also address the challenge of electrification. Photovoltaic charging stations will be installed as the roll-out progresses. The company also has plans to build its own carbon-neutral assembly plants to be ready by 2024.
Also read;
https://trendsnafrica.com/egypt-to-regulate-automobile-sector/
