Kenyan e-bike maker increases output as Iran war spurs demand [Los Angeles Times (CA)]
BYD CO LTD UNSP/ADR (BYDDY)
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Source: Los Angeles Times
The cost of gasoline and diesel has increased to nearly $6 per gallon since the Iran war. Roam Electric , a Kenyan e-motorcycle manufacturer, has seen demand double as consumers shift away from gasoline amid price surges driven by the war in the Middle East. Kenya's pump prices have risen 11% to $5.75 per gallon (198 Kenyan shillings per liter) in the capital, Nairobi, since the conflict began, briefly rising above 200 shillings. Demand for Roam's e-bikes has doubled over the period, prompting the company to accelerate its growth plans, Country Manager Habib Lukaya said in an interview. Roam now plans to double monthly production at its Nairobi factory to 600 bikes and reach 1,000 units by year-end. “When fuel hit 200 shillings, orders went even crazier,” Lukaya said. Surging demand for e-bikes in Kenya reflects a global shift since the war disrupted oil supply. In Southeast Asia, buyers are flocking to BYD Co. 's stores, while electric rickshaws are selling out in Pakistan
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