The Ecosystem

Compared with the traditional bus operation business, the e-bus line involves a variety of new companies. For the first PoC in Nigeria and future rollout, we designed a new multi-company structure.

Electricity Based Companies

Bus Line Operating Company

• Role: Hold e-buses, establish and operate e-bus routes, provide e-bus services to citizens, and maintain e-bus and other ralated assets.

• Capex: E-buses, and construction.

• Revenue: Tickets, subsidy, carbon income, site rental revenue from charging companies, and 3rd party service fee.

• Expenses: Payroll, land rental cost, charging fee, battery as a service fee, interest, and depreciation.

Charging Company (On/Off Grid):

• Role: The station is typically positioned in a bus hub (often at the end/start stop), provide charging services. If it is off grid, it will generate electricity through the self-owned solar farm.

• Capex: Charging posts, construction.

  • Local transformer (if on grid).

  • PV panels, mounts, and energy storage (if off grid).

• Revenue: Charging service fee, 3rd party service fee.

  • If it is on grid, the charging service fee also include the temporal charging service for other bus lines. If it is off grid, the charging service fee only includes the exclusive charging service for certain bus lines at night.

• Expenses: Equipment maintenance, operating labor cost, site rental cost, interest, and depreciation.

  • Electricity cost (if on grid)

Battery as a Service:

• Role: Provide distributed battery management system design, recurring rental service, technical consulting, and maintenance.

• Capex: Batteries EMS and operating platform.

• Revenue: Battery as a service fee.

• Expenses: Maintenance fee, interest, and depreciation.

Gasoline Based Companies Comparison

Bus Line Operating Company

• Capex: Relatively low compared with E-bus operating companies.

• Revenue: No subsidies, no carbon income.

• Expenses: Higher fuel cost, higher rental cost for the inability to integrate with gas station.

Gas Station Company

• Capex: Higher equipment cost and higher construction cost.

• Revenue: Gasoline sold and 3rd party service fee.

• Expenses: Higher rental cost for the larger site required and the need to be well positioned, high license fee, high compliance and inspection fees.