Tolulope Olulokun is the founder/CEO of ThinkBikes, the first electric bicycle company in Nigeria located in Ibadan. At the Nigeria Climate Innovation
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Nigeria’s First Electric Bicycle Manufacturer Aims To Bring Easy Mobility To Rural, Urban Areas
ECOSCOPE
By Paul Omorogbe On
Jul 7, 2022
Olukokun and his bicycle
Tolulope Olulokun is the founder/CEO of ThinkBikes, the first electric bicycle company in Nigeria located in Ibadan. At the Nigeria Climate Innovation Centre in Lagos, he met
PAUL OMOROGBE and explained what his electric bicycle innovation is all about and the problems it solves.
What is ThinkBikes electric bicycle?
ThinkBikes is the first electric bicycle manufacturing company in Nigeria and one of the few in Africa. We are not talking about retrofitting. Retrofitting means you remove the engine and put in an electric motor. I have done about two electric vehicle conversions of my own. We are manufacturing from scratch. We get raw materials like steel and cut to size. We have our own design. We source some parts locally, but the motor is from China. About 60 to 65 per cent of our parts are sourced locally. And we are the first in Nigeria and part of the few in Africa.
This bicycle is our flagship product. It is a cargo bicycle. It is a bicycle, as we all know, but it is electrically propelled. It assists you to propel. A lot of people confuse electric bikes for electric motorcycles. They are different. Bicycles maintain a pedal. But you are not pedaling with your strength. A motor is assisting you. So you can have 300 kg at the back of the bicycle and you don’t feel it because the motor is assisting you. You have the option to throttle, but throttling will limit your range.
What is the range?
For now it is profiled for 50 km. But we are still road testing and expecting feedback from our clients. On our paperwork, we have 50 km and this will pull 300kg conveniently.
Target users
We had quite a lot of users in mind. But this one here is for waste recyclers. We also had FMCG distributors in mind. We have farmers; we have logistics people; we had quite a lot of people in mind.
How long have you been in business?
The company has been in existence since 2019. We incorporated officially in 2020. Our first product was in December last year. The second prototype came out in February. This is the third generation of our bicycle which we are now selling.
Production plans
We have our production facility where we can produce five of these per day. We are not into full commercialization yet. We are at pilot phase. We are getting feedback from our customers. That’s the level we are right now.
Challenges
The challenge has always been funding because a lot of people don’t see hardware as a scalable business. But in a country like Nigeria, we need manufacturing to put a lot of people to work. If it is about software development and software companies alone, the people they can employ are people who are well skilled. What of the people who are at the bottom of the pyramid? We complain that unemployment is much. But with manufacturing companies, even if it is to assemble things, or carry materials here and there, it is work. We have people we can engage. For me, it is about employment opportunities that we can create, and the impact you can create for small businesses and people. It costs too much to transfer goods from one place to another, especially in rural communities where the roads are bad. Our bikes can go there. Look at the heights, it will go off-road. Many vehicles cannot go there.
Cost
Currently, the cost is about 750,000 naira without VAT. That can change once we scale up.
Prospects
We are trying to talk to some investors. We need investment to scale up business.