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NEV Electric designs and manufactures electric vehicles specifically for African road conditions. The company employs localized manufacturing, sourcing over 85% of components regionally, with a facility producing 500 vehicles monthly. Its vehicles integrate proprietary fast-charging, adaptive suspension, optional solar integration, and smart connectivity, constructed with sustainable materials.
Founded by Mosope Olaosebikan, NEV Electric emerged from the insight that Africa required bespoke sustainable transportation. The company aims to lead an electric vehicle transformation, fostering growth through localized production and a comprehensive EV ecosystem. Olaosebikan’s vision prioritizes regional mobility independence.
NEV Electric serves individual commuters and commercial enterprises with efficient electric fleet solutions. The company provides flexible EV financing and an expansive fast-charging network throughout Nigeria, including solar-powered hubs. Its long-term vision is to propel Africa into a new era, advancing the continent with clean, affordable, and resilient electric mobility.
NEV has 1 tracked investment across 1 company. The latest tracked deal is $4.0M Series A in Explain Everything in December 2016.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Dec 1, 2016 | Explain Everything | $4.0M Series A | European Bank For Reconstruction And Development | Climacticvc, Credo Ventures, Episode 1 Ventures, Julien Coustaury, Roger Blott, Future Shape, Marc Benioff, RTA |