$7.5mn fundraise by Opibus aims to boost electric mobility in SSA

Opibus, an electric vehicle manufacturing company based in Sub-Saharan Africa, has recently secured a significant financial boost to further enhance its operations in the electric motorcycle and bus manufacturing sector. The company recently raised a total of $7.5 million, with $5 million in equity and $2.5 million in grants. Opibus CEO, Filip Gardler, expressed optimism about the future of the company, highlighting that this fundraising round is just the beginning of many more to come. Gardler emphasized that the funds will be strategically deployed to achieve the company's core vision, which is to create innovative, sustainable, and affordable electric vehicles that cater to the growing transportation needs in the region. One of the key themes discussed in the interview was the immense opportunity for electric mobility in South China and Africa. Gardler underscored the vast potential for growth and development in the region, emphasizing the importance of building a future-ready infrastructure for electric vehicles rather than relying on outdated methods. He stressed the significance of leveraging this opportunity to build an environmentally conscious transport network while avoiding the pitfalls of traditional fossil fuel-based infrastructure. Gardler also acknowledged the pressing issue of climate change and the urgent need to transition towards sustainable transportation solutions. He emphasized the role of private industry in driving climate change mitigation efforts and highlighted Opibus's commitment to providing eco-friendly transportation options that can significantly reduce carbon emissions in the region. The CEO noted that the company's fundraising announcement coincided with global discussions on climate change at COP26, underscoring the critical importance of private sector involvement in environmental conservation. Furthermore, Gardler addressed the challenge of limited access to electricity in many parts of Sub-Saharan Africa and its implications for the electric vehicle market. He pointed out that the region's abundant solar power resources present a unique opportunity to implement decentralized energy solutions, reducing dependence on traditional electricity grids and fuel deliveries. By harnessing solar energy and developing innovative grid systems, Opibus aims to provide sustainable transportation solutions that are accessible and reliable for communities across the region. In conclusion, Opibus's successful fundraising initiative not only signifies a significant milestone for the company but also highlights the growing momentum towards sustainable electric mobility in Sub-Saharan Africa. With a clear focus on innovation, affordability, and environmental sustainability, Opibus is poised to play a pivotal role in shaping the future of transportation in the region and contributing to global efforts to combat climate change.