Rideence Invests $2.46M in Mombasa EV Assembly

RIDEENCE AFRICA LIMITED has announced a $2.46 million partnership with Associated Vehicle Assemblers to begin local electric vehicle assembly in Mombasa, marking a strategic transition from vehicle operator to manufacturer. The initiative will see 152 electric vehicles assembled from CKD kits by February 2026, including electric taxis and high-roof matatus, strengthening Kenya’s position in the region’s growing electric mobility ecosystem.

The move builds on Rideence’s lease-to-drive model, which has already deployed over 180 fully built electric vehicles across Kenya, forming what the company describes as East Africa’s largest electric ride-hailing fleet. With significantly lower charging costs compared to fuel expenses, the model delivers tangible savings for drivers while supporting cleaner, more sustainable urban transport.

According to Rideence, the shift to local assembly follows more than $10.7 million invested in Kenya since 2023 and reflects a long-term vision to build a new-energy mobility enterprise rooted in the local market and serving the wider African continent. The partnership with@AVA enables technology transfer, local value addition, and increased manufacturing capacity within the country.

Beyond mobility, the investment is expected to have a strong employment impact. Rideence estimates the new phase will create at least 3,000 additional direct and indirect jobs across supply chains, charging infrastructure, and support services, aligning with Kenya’s broader goals around industrialisation, job creation, and the transition to cleaner transport solutions.