African Tech Firm Unveils Cheaper Electric Vehicles

Green Revolution and AI Company and the world’s first black owned electric vehicle manufacturer, Agilitee  has introduced its entry-level car as it drums up for what it calls the largest product launch that Africa has ever seen.

The company is launching 3 new full electric cars, 5 new full electric bikes of which three of them are 3 wheelers. 

Billionaire Founder of Agilitee, Mandla Lamba introduced on his social media platforms what is now the most affordable electric vehicle in Africa. The car is called Agilitee At Last and it retails at $9000. 

More information on the car will be released at the 2022 Agilitee Launch where this vehicle, other EVs and 200 AI products will be launched.

The car has been developed with a very good ground clearance that will even allow villagers to enjoy riding it in the village without fear of damaging it. 

The Billionaire Founder being a village boy himself shared with this publication that it is very exciting that finally there’s a car that even the lowest income earners can afford.

“The car is called At Last because finally even security guards, domestic workers and cleaners can now own a car, At Last God answered the prayers of the masses of our people at a time where the world is experiencing a skyrocketing hyperinflation that has made the cost of living unbearably high,” Lamba said. 

The rise on petrol prices when salaries have not increased to match the hyperinflation has made many people park their combustion engine vehicles at home and use public transportation.

 Agilitee wants to ensure that people get to move around easy and cheap. It costs less than $5 to fully charge Agilitee At Last. 

Recently the Electric Vehicles manufacturer, Agilitee announced an integrated system to charge cars in apartments and townhouses as a back to raging power cuts that is affecting the region.

The charging system help new properties and already developed real estates to convert their parking bays into EV Charging Facilities and Back Up electricity for their estates.

This initiative comes after South Africa’s Eskom struggling to generate sufficient power due to neglected maintenance, and high indebtedness of the state-owned power utility resulting into extensive power cuts.

The company has also came up with a fastest EV Charger in the whole world that can fully charge an electric car within 5 to 15 minutes depending on the motor.

Data from Statista indicates that South Africa is the most advanced e-mobility market in Africa with about 1,000 electric vehicles (EVs) in January 2022 or about 0.008% of its national automobile fleet.

Agilitee is currently preparing   an Initial Public Offering(IPO) on the Johannesburg Stock Exchange.

The IPO is advised by AcaciaCap Advisors who have done multiple of such transactions including doing the second listing on the Johannesburg Stock Exchange for 2022. 

To this day, the company provides a comprehensive range of integrated corporate finance and listing related advisory services to a wide spectrum of entrepreneurial businesses across various industries.

AcaciaCap Advisors was established based on 20 years of a professional and highly experienced team.

The IPO values Agilitee at $20 billion and Lamba owns 77.5% of the company after giving away 10% of his shares to previously disadvantaged people in Africa.

The billionaire decided to give away 10% worth $2 billion, as of today he has donated $250, 000 000 worth of shares and created a little over 1000 millionaires. 

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