Smart Charging for Green Rides will improve the electric three-wheeler charging ecosystem in Bangladesh through pay-as-you-go (PayGo) technology for lithium-ion batteries, renewable energy generation and accessible financing.
P4G has provided this partnership with US $100,000 in catalytic grant funding.
The majority of Bangladesh’s electric three-wheelers currently rely on heavy, expensive lead-acid batteries. This partnership will roll out smaller lithium-ion batteries compatible with existing electric three-wheelers, but with a longer lifetime, translating to a 45% lower cost per day. The batteries will be sold to garage owners, who loan them to electric vehicle (EV) drivers who will be able to pay on a per use basis, rather than be locked into a constant cycle of debt. Using mobile money, EV drivers will top up their account and be able to unlock the battery for a specific period of time or distance with tracking systems to control use.
This model aims to increase driver income by 25% by providing access to better batteries and better financing. The partnership will also enable garage owners to increase their income through more effective loan tracking for higher rates of repayment and expanded EV adoption.
Ultimately, the partnership anticipates that greater uptake of electric three-wheelers will reduce CO2 emissions and air pollution in Bangladesh, helping the country meet decarbonization goals while improving quality of life.