Persistent has provided cash to the Ghanaian e-mobility business SolarTaxi to expand its product line.
SolarTaxi is an electric two-wheel (e-2Ws) and four-wheel (e-4Ws) vehicle manufacturer and distributor that Jorge Appiah founded in 2018. These cars are used for delivery and transportation services.
The company also has operations in Kumasi, Takoradi, and Tamale. Notable clients in Ghana include e-commerce firms like Jumia and Bolt, employing SolarTaxi’s e-2Ws to transport customer orders throughout Accra.
Although the firm wants to create and install solar charging stations as the industry expands, SolarTaxi’s electric vehicles are made for home charging. Meanwhile, the SolarCampus app will soon be released, enabling university students to access e-transportation services and make purchases that will be delivered by e-bike.
Persistent a leader and investor in the off-grid energy and e-mobility sectors in Sub-Saharan Africa with 20 early-stage investments in pay-as-you-go (PAYG) solar distributors, commercial and industrial solar (C&I), mini-grid developers, technology enablers, and e-mobility companies, has provided funding for all of these initiatives. The fourth electric vehicle investment made by Persistent is SolarTaxi. With the help of its funding and venture building, Solar Taxi will be able to access working cash to fulfil large orders and contracts for its electric cars.
“Our journey throughout the years has the characteristics of resilience and hard work, right from when we assembled our first prototype vehicle to when we received our seed funding from our key partner, Mastercard Foundation. We later had to prove the business concept of our model by scaling our business activities in four different locations in Ghana,” Appiah said.
“Our growth so far has been due to the support we received from our partners, customers, investors and our hardworking staff. As we look to create our own path to success, we intend to scale our business activities by setting up an assembling plant for our bike and car operations in Ghana. In light of that, we are delighted to welcome Persistent to the SolarTaxi family, as they believe in us and in our vision and have committed their resources to this effect. This latest funding from Persistent demonstrates their conviction in our business model and team, and it gives SolarTaxi the much-needed support to deliver on our plans for the future.”
