A growing group of partners has backed the establishment of Untapped Global’s Climate Action Initiative, an investment firm that specializes in emerging countries. Africa-based companies can get asset financing through Untapped’s “Smart Asset Financing” investment strategy.
Untapped asserts that since 2021 it has built a network of mobility partners that oversee over 30,000 vehicles in a dozen nations, including the majority of the continent’s largest economies including Nigeria, Kenya, and South Africa.
To hasten the uptake of electric mobility in Africa, the collaboration will combine three crucial elements: a reputable network of car leasing businesses with the capacity to deploy and manage tens of thousands of automobiles profitably across numerous markets; validation and expansion of significant pioneering developments in electric mobility; and, Financing to shift up-front capital costs of EV to affordable ongoing payments that make the out-of-pocket cost of EV lower than that of petrol vehicles.
The company aims to achieve 25% electric vehicle adoption across its mobility partners by 2025, deploying over 10,000 EVs, and displacing an estimated 240 metric tonnes of CO2 per year.