Why African EV startups are struggling
17 Feb 2023

In 2021, Nigerian mobility startup Metro Africa Xpress (MAX) became Africa’s most-funded startup in the electric vehicle (EV) space when it raised $31 million in a series B round to expand into Ghana and Egypt.
The company set a goal to provide vehicle-financing loans to more than 100,000 drivers over two years and build EV infrastructure in its new markets.
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