UK-based e-mobility startup, OX Delivers, secures a $1.5 million grant from Energy Catalyst for its electric OX4 trucks in Rwanda. The funds, received through Innovate UK, will aid OX Delivers in producing its next-gen OX4 trucks, set to begin in March 2024, and expanding its transport-as-a-service model in emerging markets.
The company, founded in 2020, plans to assemble the trucks locally, focusing on rural communities in Africa. OX Delivers aims to create a “charge points” network for low-carbon energy, emphasizing affordability for rural areas. With a $1-per-kilogram-per-kilometer pricing model, OX Delivers caters to around 4000 customers, including smallholder farmers and traders.
Simon Davis, OX Delivers CEO, notes that the funding validates their clean energy solution for the Global South. The grant will also aid in electrifying existing depots and introduce a vehicle control unit, enhancing software for the electric trucks. OX Delivers previously secured $10 million from investors and grants from USAID, the UK government, and Advanced Propulsion Centre UK.
The company plays a role in Rwanda’s growing electric vehicle market, with 900 locally produced electric vehicles registered in 2022. OX Delivers aims to enter the wider Global South market, projecting EV revenue of $85.6 million by 2024 and a market volume of $162.2 million by 2028.
The OX ecosystem, combining goods shipment with financial and marketing services, focuses on creating a self-reinforcing cycle of economic growth and social impact. The OX4, an electric truck designed specifically for emerging markets, promises efficiency and affordability, contributing to the transformation of transport services in the Global South.
