Spiro buys thousands of batteries to up production

June 10, 2025

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Electric motorcycle company Spiro has made an order for LFP electric motorcycle batteries worth $11.6 million from Chinese manufacturer CBAK Energy Technology. The order consists mainly of CBAK's advanced Model 32140 large LFP cylindrical batteries, and the Nasdaq-listed company expects follow-up orders that could total up to $55 million.    

  • A brand-new pack of 3.2V 15Ah Model 32140 large LFP cylindrical batteries costs about $107 on AliExpress. For $11.6 million, using that price as an example, it means the company is purchasing at least 108,000 battery packs, underlining the scale of the order.  

  • The advent of electric motorcycles is a major draw for riders due to low operational costs. Companies such as Spiro, which is now in seven African countries, are racing to meet demand. 

  • Our take: The choice of batteries, which impacts key indicators like capacity, range, performance and cost, could determine who wins Africa’s electric motorcycles race… Read more (2 min)

The financing cost for electric vehicles has been fairly stable over the past month, according to a monthly survey by Mobility Rising. The survey collects data on EV loans from three separate lenders in Kenya, South Africa and Nigeria. It shows that EV loans remained unchanged in Kenya and Nigeria, while one lender reduced their rates in South Africa.   

  • The majority of loans are short-term, with tenures ranging between 12 and 60 months. Given generally high interests, buyers are incentivised to repay loans swiftly. 

  • Nigeria has the highest benchmark lending rate. This is followed by Kenya, with the second costliest loans, while South Africa continues to have the cheapest cost of financing out of the three main African markets. 

  • Our take: Inflation is trending downwards in a number of African markets, which could lead to lower borrowing costs in the next few months… Read more (2 min)

Africa’s EV transition will reflect the continent’s reliance on second-hand fuel vehicles, which currently make up 90% of all imported cars. Eng. Chiagoziem Ezechi, an independent EV consultant, argues that as China opens the floodgates to affordable used EVs, Africa must act quickly to avoid turning these vehicles into stranded assets with degraded batteries.

  • In a guest article, Mr Ezechi emphasises the need for local battery servicing infrastructure, tailored incentives for used EVs, and cost models that compare second-hand EVs with petrol cars, not new vehicles.

  • He cautions that without targeted regulation and investment, EV adoption will remain limited to fleet pilots rather than reaching the mass market.

  • Click here to read more of Mr Ezechi’s perspective… (3 min)

Japanese delegation from Marubeni Corporation tours MAX operations in Nigeria 

Events

🗓️ Attend Ghana’s Automotive Summit (June 17)

🗓️ Register for Transport Evolution Forum and Expo in South Africa (June 17)

🗓️ Plan for South Africa Auto Week (Oct 1)

Jobs

👩🏻‍💻 Join Ampersand as a Backend Software Engineer (Rwanda)

👨‍💻 Apply for the Machine Learning Engineer’s role at Ampersand (Rwanda)

👨‍✈️ Manage fleet operations at MAX (Ghana)

Various 

🚍 BasiGo doubles its monthly assembly output to 20 buses

🏍 Roam launches its Gen 2 electric motorcycle

🚎 Ethiopia pushes discussions on implementing an electric BRT

Seen on LinkedIn 

Craig Atkinson, Founder of Green Riders, says, “The delivery industry in South Africa faces unique challenges. Unlike many foreign nationals who grow up with motorbikes. Transport here is mostly taxis, walking, or bicycles. High licensing barriers make entry difficult.”