OX Delivers gets $1.5 million in grant for the company’s electric OX4 trucks in Rwanda. E-mobility transport form that is based in the UK intends to build the OX4 truck in March 2024 and then deliver it for assembly in local markets all over.
A 20-person design, engineering, as well as production team, is currently finalizing the OX4 truck at the firm’s headquarters located in the United Kingdom. OX Delivers additionally is currently looking to expand to the south globally, kicking things off with Africa.
OX Delivers Gets $1.5 Million
OX Delivers, established in 2020 and headquartered in Leamington Spa, UK, is a technology-driven transport service startup focused on offering on-demand transport in emerging markets. Its mission includes providing motorized transportation to businesses lacking access to it, serving approximately 4,000 customers presently.
Customers of OX Delivers pay around $1 for the space they require on a kilogram-per-kilometer basis through a dedicated application or toll-free number.
What the Startup Intends To Do With the Grant
With the grant, the startup intends to offer affordable transport to rural communities and establish a network of “charge points” for low-carbon energy, emphasizing its advantages. According to CEO Simon Davis, the transport-as-a-service model of OX Delivers has been validated as a clean energy solution in the Global South, not solely due to the funding.
OX Delivers plans to enhance its operations and contribute to the electrification of its existing depots (2) by introducing the all-electric OX4 truck. Additionally, the company has introduced a vehicle control unit, advancing the development of sophisticated software for the electric truck.
OX Delivers Has Secured Approximately $10 Million from Investors
Besides the Energy Catalyst funding, OX Delivers has secured approximately $10 million from investors and received funding from organizations like USAID and the UK government through initiatives like Innovate UK and the Advanced Propulsion Centre.
In 2022, the Advanced Propulsion Centre UK awarded OX Delivers a grant of £8,500,000 ($10,722,707), and Innovate UK awarded the organization a grant of £800,000 (over $1 million) in 2021.
Rwanda’s Electric Vehicle Market
Playing a role in Rwanda’s electric vehicle market, with 900 locally produced electric vehicles registered in 2022, OX Delivers seeks to enter the market of the Global South, including Africa. It is anticipated that EV revenue in the region will reach $85.6 million in 2024, with a market volume of $162.2 million by 2028, as global manufacturers have begun entering Africa’s electric vehicle market.
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