Top EV Companies in Nigeria Powering the Green Transport Revolution

Nigeria’s electric vehicle ecosystem has seen rapid growth in recent years, with local and multinational companies investing in EV assembly, manufacturing, financing and last-mile mobility. From electric motorbikes to cars and buses, the EV landscape is expanding — driven by sustainability goals, climate imperatives and forward-thinking entrepreneurs.

1. Spiro (under Equitane Group)

Overview: Spiro is one of Africa’s most influential EV companies and a major player in Nigeria’s electric mobility scene. It’s backed by Equitane Group (a Dubai-based investment entity) and is headquartered in Dubai with operational HQ in Nairobi, Kenya. The company’s CEO is Kaushik Burman.

Products & Services: Spiro focuses on electric motorbikes and a battery-swapping ecosystem — allowing riders to quickly replace depleted batteries rather than wait to charge them. It also provides home and fast charging options plus smart support services.

Nigeria Presence:

• Nigeria Office: Spiro operates in Lagos and other major cities, with mobility services across the country.
• Manufacturing Hub: The company is building large-scale EV assembly/manufacturing capabilities in Ogun State with plans to produce up to 100,000 e-bikes annually, beginning early 2025.
• Local Growth: Spiro officially launched operations in Ogun State in July/August 2024 and continues to expand battery towers and swap stations.
• Mission: Drive sustainable urban mobility, reduce emissions, and empower local riders with affordable EV products.

Key Strengths: Spiro operates in multiple African countries and has deployed tens of thousands of electric bikes — making it one of the continent’s largest EV players.

2. MAX (Metro Africa Xpress)

Overview: MAX is a Nigerian mobility brand reimagining EV adoption through vehicle financing, subscription and flexible payment models. It’s best known for its ride-hailing, EV financing solutions, and helping drivers acquire EVs with installment plans rather than full upfront payment.

Leadership:

• CEO & Co-Founder: Adetayo Bamiduro — a Nigerian tech entrepreneur with experience in finance and mobility innovation.

What They Do: MAX enables drivers — especially informal transport workers — to own or lease electric motorcycles and three-wheelers using flexible terms. Its platform also integrates training, insurance, and digital services to empower riders.

Installment & Financing: MAX’s business model offers electric motos and trikes on rent-to-own or installment plans, widening access to EVs for those who cannot pay large sums upfront. It also supports battery and charging infrastructure coupled with fleet tech.

Head Office: The company’s operations are based out of Lagos, Nigeria. It also services other West and Central African cities as part of a broader expansion strategy.

3. BYD — Build Your Dreams in Nigeria

Overview: BYD is a global EV and battery technology giant headquartered in Shenzhen, China. It’s one of the world’s largest electric-vehicle manufacturers — known for models like the BYD ATTO 3 and Dolphin — and is now active in Nigeria’s EV market.

Entry into Nigeria: BYD officially entered the Nigerian EV market on 28 March 2025 through a partnership with LOXEA Nigeria (a subsidiary of CFAO Mobility), which serves as the main distributor and service provider for BYD EVs in the country.

Role in Nigeria:

• Providing multiple BYD electric models, charging infrastructure and after-sales service.
• LOXEA’s upcoming Victoria Island showroom in Lagos will showcase and support BYD vehicles locally.

Note: BYD does not currently have its own manufacturing plant in Nigeria, but this launch represents an early step in building local EV sales and infrastructure.

4. Innoson Vehicle Manufacturing (IVM)

Overview: Innoson Vehicle Manufacturing Co. Ltd. is Nigeria’s first indigenous automobile maker, founded in 2007 by Innocent Chukwuma Nwala and headquartered in Nnewi, Anambra State.

Electric Models: In September 2024, Innoson unveiled its first electric vehicle models — including the IVM Link, IVM EX02, and IVM EX01 — signalling a major move into EV production.

Operations & Facilities:

• Main manufacturing and assembly are at Nnewi.
• The company has additional showrooms and sales outlets in Lagos, Abuja, and Enugu.

Leadership:

• Founded and led by Innocent Chukwuma Nwala, a veteran Nigerian industrialist.

Innoson continues to expand its product lineup, producing both electric and conventional vehicles for Nigerian and regional markets.

5. Saglev Electromobility — EV Brand of the Year (2025)

Overview: Saglev Electromobility has been recognised as Nigeria’s 2025 EV Brand of the Year and operates a dedicated assembly plant in Ikorodu, Lagos, producing a range of electric sedans, SUVs and commercial models with ranges around ** ~300 km**.

Role in the Market: The company highlights the shift toward EVs in passenger, corporate and government fleets — helping position Nigeria as an EV assembly hub in West Africa.

6. Jet Motor Company (Jet EV)

Overview: Jet Motor Company, based along Lekki-Epe Expressway, Lagos, is one of Nigeria’s pioneers in commercial EV manufacturing, known especially for electric buses, vans, and personnel carriers.

EV Models & Market:

• Produces electric buses, pickup vans, special-purpose electric vehicles, and corporate fleet EVs.
• Has supplied EV fleets to governments and logistics partners such as GIG Logistics.

Nigeria’s EV industry is diversifying fast, spanning micro-mobility (electric bikes), cars, commercial buses, financing and battery infrastructure. Each company listed here plays a special role — from manufacturing to financing to assembly — accelerating the country’s transition to cleaner, greener transport.