Agilitee, Africa's first electric vehicle manufacturer and Greentech Company, has signed a deal with Guangzhou Thunder International Investment Company Limited for the supply of electric scooters to Africa.
In the deal, Guangzhou Thunder International Investment Company Limited will supply 40,000 electric scooters to the South Africa-based company.
Agilitee will supply the electric scooters to countries it operates in, including Kenya, Nigeria, Malawi, Zimbabwe, Ghana, and Lesotho.
Guangzhou Thunder International Investment has supplied the scooters for over four years.
Dr. Mandla Lamba, Agilitee's chief executive officer, said the scooter buyers will have a payment period of up to 36 months.
"Our partners understand that our people in Africa need help. Our partners have agreed to provide repayment terms from 12 to 36 months," he said.
A shipment of the 350 semi-assembled scooters by Guangzhou Thunder International Investment Co to South Africa is expected in a week.
Guangzhou Thunder International Investment has also signed a deal to form Explore Group Africa, which will be headquartered in South Africa.
The transaction will lead to Guangzhou Thunder International Investment building a plant in South Africa to manufacture and assemble scooters for its subsidiary company, which will be supplied to the African market.
Under the deal, Agilitee will own a minority interest of 35 per cent, and Guangzhou Thunder International Investment Co. will own the remaining majority of the interest of 65 per cent.
