NopeaRide, an electric vehicle (EV) taxi brand, is winding up its operations in Kenya after four years.
The company said this was due to its majority shareholder and financier, EkoRent Oy declaring insolvency in Finland.
“Following the announcement that our majority shareholder, EkoRent Oy, has declared insolvency in Finland, we are sad to announce that InfraCo Africa Limited, the minority shareholder, has now filed for the liquidation of EkoRent Africa Limited in the High Court of Kenya,” NopeaRide said in a statement.
“This is due to the fact that EkoRent Oy was the principal financier of EkoRent Africa Limited and all the technical knowledge on the running of the business lay with EkoRent Oy.”
NopeaRide was launched in the Kenyan market in 2018 with only three electric vehicles and two charges before growing its fleet and charging network the following year.
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