Energy firm eyes electric three-wheelers, chargers assembly

From the newsletter

VAULTe, an energy company, has partnered with Indian EV manufacturer EVNEXUS to establish assembly plants for electric three-wheelers and solar-powered battery swapping stations across Africa. Their initial operations will launch in Ivory Coast and Malawi, then move to Lesotho. The plan to have an East Africa hub, South-Eastern hub and a West African hub. 

• The company’s business model is notably distinct, focusing on countries that lag behind in e-mobility adoption. Malawi, for instance, has an electrification rate of less than 15%, making off-grid charging solutions a highly suitable approach. Currently, they have contracted over 180 swapping stations.

• Malawi is set to serve as a regional hub for five neighbouring countries, with a planned production capacity of 30 electric three-wheelers monthly. While the market competition in Malawi is currently low, suggesting an opportunity for success, the limited production scale raises concerns about whether it can effectively meet regional demand.

More details

• In partnership with Royal Motors-EPC, VAULTe is set to open its first G10 assembly facility in Malawi, fully financed through private investment. Over the next five years, the company plans to further localise production, with the goal of achieving 95% component manufacturing within Africa.

• Three models from VAULTe’s G10 Smart City Fleet are scheduled for shipment to Malawi in May, ahead of a grand launch event this summer. Abdul, VAULTe’s local partner in Malawi, will also lead the development of the company’s East African hub in Nairobi, Kenya.

• Each G10 Hub will include an assembly facility, a fleet management centre, and an electrification team. This integrated model ensures that each hub serves not only as a manufacturing base but also as a tailored service and operational centre for its respective region.

• VAULTe’s West African expansion will be anchored in Abidjan, Ivory Coast, which will serve as a regional hub for Guinea, Ghana, Togo, Benin, Burkina Faso, and Mali. The East African hub in Kenya will support operations in Ethiopia, Tanzania, Uganda, Somalia, and South Sudan.

• The company also plans to expand into Lesotho, where the electrification rate is just 47%, significantly below the continental average. The move into Lesotho—a country often overlooked in e-mobility investment—underscores VAULTe’s ambition to drive electric vehicle adoption in underrepresented and underserved markets.

• Malawi’s low electrification rate (14%) and weak logistics infrastructure make it a difficult choice as a central hub for regional EV expansion, despite low competition and contracted swapping stations. Serving countries like DRC, Tanzania, Zambia, and Mozambique from Malawi may result in high transport and coordination costs.

• A leaner model—manufacturing in Malawi while using distributors in neighbouring countries—could be more practical and is already working for firms like BasiGo, Spiro, and Kofa. This would allow VAULTe to focus on building a strong manufacturing base while benefiting from local market knowledge.

• Competing against experienced players like Mobility for Africa (Zimbabwe) and TRí (Tanzania) will require a clear value proposition, especially in markets where these firms have strong local trust and operational history. Without differentiation—such as price, performance, or service—VAULTe risks being overlooked.

• The strategy carries high risk due to infrastructure gaps and resource demands, but the reward could be a first-mover advantage if VAULTe executes with strong local partnerships and adaptive rollout. Careful phasing and realistic scaling will be critical to long-term success.

Our take

• The absence of established EV players in Malawi gives VAULTe a unique opportunity to shape the market from the ground up, setting standards and building loyalty early. This kind of first-mover advantage could be difficult for later entrants to overcome, especially if VAULTe embeds itself well in the local ecosystem.

• If VAULTe can tailor its operations to local realities—such as poor grid access and low income levels—it may not only survive but become a blueprint for EV deployment in similarly underserved regions. The key will be designing affordable, durable, and serviceable vehicles that meet real mobility needs rather than aspirational ones.

• Success will depend less on perfect infrastructure and more on adaptability, trust-building with local communities, and a visible commitment to long-term presence—not quick wins. Communities in these areas value reliability and relationships, so consistency and local engagement could matter more than scale.