Kenya's ARC Ride has secured a $10 million debt financing commitment from Mirova, an affiliate of Natixis Investment Managers. This funding will be used to deploy 600 battery-swapping cabinets and 25,000 batteries across Kenya, significantly boosting the country's electric vehicle infrastructure.

• This financing follows a $5 million investment from British International Investment (BII) just four months prior, demonstrating strong investor confidence in ARC Ride's Battery-as-a-Service (BaaS) model.
• Mirova, focused on sustainable investing, will fund battery-swapping infrastructure at scale, while BII supported the deployment of 5,000 electric two-wheelers and battery-swapping stations across East Africa.
• Joseph Hurst-Croft, CEO at ARC Ride, stated that this partnership with Mirova is a "major milestone" for making electric mobility accessible and sustainable across Africa.
• ARC Ride currently operates over 170 battery-swapping stations in Nairobi, becoming a benchmark for standardized battery-swapping in Africa.