The Kenya Power and Lighting Company (KPLC) has announced plans to venture into the growing electric vehicle industry in the country. As the main electricity supplier KPLC is planning to set vehicles charging stations spread across different points starting with the capital, Nairobi. The electricity supplier has noted significant increase in the number of electric vehicles in the country and is taking a chance to enter this market.
KPLC is also considering this market as a way of diversifying its revenue streams. The company has been struggling with losses over the recent years and is actively seeking new way of increasing its profit. Therefore, the power supplier is planning to use its monopoly power in the market to be one of the major suppliers to the growing electric vehicle industry.
Kenyans have been slowly replacing the diesel and petrol dependent vehicles with electric ones although the popularity of the latter is still low. However, major global vehicle manufacturers including Toyota and Nissan have expressed plans to increase the production of electric vehicles over the coming years. Therefore, KPLC's plan is well timed with the local and global electric vehicle trends.