E-mobility company, Agilitee, has announced its entry into the Malawian market through a strategic partnership with Innobuild Motors Limited, a subsidiary of Innobuild Group.
“Innobuild Malawi is delighted to announce the signing of a groundbreaking agreement with Africa’s leading EV Manufacturer, Agilitee, to enter the Electric Vehicles (EV) space. We are proud to play a significant and fundamental part in uplifting the welfare of foals through the provision of creative services and products,” said Innobuild in a statement.
The two companies have promised to use their partnership to foster extensive benefits, including cost-efficient transportation, reduced pollution, and the creation of new job opportunities in Malawi once production commences.
“Today’s announcement is a significant development for Agilitee as we change and simplify the way we travel to better serve Africa and drive growth in a way that protects the environment and sustains the longevity of Mother Earth. As leaders of EVs in Africa, we are always looking for opportunities to expand our reach so that our innovations can change more lives daily,” Agilitee, Head of Partnerships, Fredrick Muteti also said.
The Agilitee and Innobuild partnership will birth Agilitee Malawi Limited and through Agilitee Malawi, Agilitee will build a $100 million Industrial Park that will manufacture and assemble Agilitee Evs and those of Agilitee partners from Asia and the United States of America. The park will have a plant that can produce 200,000 electric vehicles per year.
Agilitee recently announced that it plans to roll out 50 000 electric scooters in Africa by the end of 2024, and Malawi is one of the countries earmarked for this rollout. This would mean that the electric scooters that Malawi will roll out this year will be locally assembled, which means a great deal of job creation for Malawians.
Agilitee’s move to Malawi is expected to help bolster the Malawian economy and put Malawi at the forefront of electric vehicle manufacturing in Africa.
Agilitee will be introducing its new models in Malawi, Agilitee LoadMo, Agilitee Loadfast, and Agilitee Loadbug which means Agilitee’s first vehicles which are Agilitee LoadeX, Agilitee RTF, and the Agilitee Wild Grace will not be in the list of Agilitee vehicles on the Malawian roads.
Africa’s first electric vehicle manufacturer had a great year last year, and it looks like it is ready to take the world by storm.
Founded by South African billionaire Mandla Lamba in 2018, Agilitee is also expanding into the Indonesian market in the first quarter of 2024 and this will be the third country in Asia where Agilitee has decided to build its presence.
Agilitee became a public company in South Africa in 2022, after which the founder donated over 150 million of his founders’ shares to almost 2000 families who are known as Agilitians. The over 150 million shares represent a little over 15% of Agilitee’s total issued share capital of 1 billion shares.
The entry of Agilitee Africa into Malawi signifies a significant step towards promoting environmental sustainability and reducing carbon emissions in the region. Agilitee Africa’s entry into Malawi marks a pivotal moment in the country’s pursuit of sustainable development and technological advancement. The company’s presence is likely to stimulate economic growth by creating job opportunities, supporting local suppliers, and fostering a culture of innovation and sustainability.
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