Loxea, a leading player in Kenya’s vehicle leasing and fleet management industry, has launched the Build Your Dream (BYD) range of Electric Vehicles (EVs).
The company’s strategy of launching electric vehicles is aimed at driving sustainable growth while transforming the country’s transportation landscape and to diversify from its core leasing and fleet management business into the rapidly growing electric mobility sector.
During the launch that was held on Monday at Loxea Showroom in Nairobi, the company announced that it will offer 100 percent electric vehicles for leasing.
Speaking at the event, the Cabinet Secretary for Investments, Trade and Industry, Salim Mvurya, hailed Loxea’s for introducing the vehicles, terming the move as a timely contribution to Kenya’s sustainable development goals.
“The government has prioritized the adoption of e-mobility to achieve a number of targets, not only to comply with the existent carbon emission reduction commitments of 32 percent reduction by 2030, but also to lower Kenya’s reliance on oil imports,” said Mvurya.
He said in the 2023 Budget Policy Statement, the government committed to provide financial and tax incentives for Public Service Vehicles and commercial transporters to convert to electric vehicles of which there has been a notable response by the sector.
The CS further noted the three government policies which include incentives for green energy adaption, development of supportive infrastructure (charging points for the cars) and a regulatory framework will be beneficial following the launch of the vehicles, besides easing the ways of doing business.
Loxea Kenya Managing Director, Jennifer Kinyoe said that the electric vehicles are the new mobility solution for Kenya as it aims at reducing Kenya’s carbon footprint since the vehicles are convenient and good for the environment.
“The transport sector is a significant contributor to greenhouse gas emissions, and transitioning to electric vehicles is a critical step towards achieving climate goals,” she said.
Kinyoe revealed that the introduction of EVs offer both environmental and economic benefits because they produce zero tailpipe emissions, contribute to reduced air pollution, lower fuel costs, and reduce vehicle maintenance expenses.
“With Kenya increasingly focusing on renewable energy production, EVs are positioned to leverage the country’s green energy transition,” she added.
Kinyoe mentioned that electric vehicles offer significant environmental benefits by reducing carbon emissions and air pollutants, contributing to cleaner and a healthier environment.
“Kenya is currently pursuing investments in renewable energy sources such as geothermal, hydro, and solar, witnessing an increase in the adoption of EVs,” she stated.
In his remarks, CFAO Mobility Group Chief Executive Officer, Arvinder Reel said that EVs have the potential to lower transportation costs for businesses thus reducing the country’s reliance on fossil fuel, as well as addresses the fight against climate change.
“We recognize the critical role that EVs will play in addressing some of the most pressing environmental challenges. EVs are not only environmentally friendly but also cost-effective in the long term,” he added.
Arvinder noted that with the rising fuel costs, electric vehicles will offer lower operational expenses due to reduced fuel consumption and maintenance, thereby lowering the cost of transportation, and decreasing reliance on fossil fuels.
He said the three cutting-edge Build your Dream Electric Vehicles models namely the BYD Atto 3, BYD Seal, and BYD Dolphin, are of high-performance standards and zero emissions, and are designed to meet the diverse needs of the Kenyan market.
Loxea aims to position itself as the partner of choice for organizations seeking scalable and modern fleet solutions. Its mission is to empower businesses by managing the complexities of fleet logistics, allowing them to focus on their core operations.
By Patience Mabonga and Moses Mwaura
