Transsion Swoops In On Africa’s Renewables Boom Amid Smartphone Slump
Africa’s top smartphone maker is quietly building a presence in the continent’s renewable energy sector, moving beyond phones into solar power and electric vehicles as its core handset business slows.
Transsion Holdings, the Chinese company behind the Tecno, Infinix and Itel brands, controls about 50% of Africa’s smartphone market. But that dominance is under pressure. In the first half of 2025, the company’s Africa revenue fell 4.45% to CNY 9.65 B (~USD 1.3 B), while handset revenue dropped 18.41% year-on-year.
The company is now pivoting to “new energy” mobility and renewable energy products. Through its Itel and Oraimo brands, Transsion has launched a variety of home solar energy systems designed for African households with unreliable electricity. Its solar products, which are quickly gaining ground in the Nigerian market, provide an economical power solution for regions where many households still rely on generators and burning wood, coal or kerosene for lighting.
In electric vehicles, Transsion introduced its TankVolt brand of electric two-wheelers and tuk-tuks in Uganda in 2023 and has since expanded to Nigeria, Kenya, Tanzania and Ethiopia. It later launched Revoo, another electric motorcycle brand, which entered the Nigerian market in 2025. The company now ranks among Africa’s top three EV brands by units sold.
Transsion is applying the same playbook that made it Africa’s smartphone leader, leveraging affordable products tailored to local needs, backed by extensive distribution networks and after-sales support. It is also offering financing options through partnerships with financial institutions.
On Monday, Transsion deepened its renewable energy bet through NewTrails Capital, a Chinese growth-stage fund, in which it owns a stake. NewTrails completed a USD 55 M investment in Spiro, considered Africa’s largest electric vehicle and battery-swapping company. The deal closed Spiro’s latest equity round at USD 270 M, one of the largest single fundraising closes in African clean technology.
NewTrails Capital operates in Shanghai, Shenzhen and Nigeria. It views Spiro as an “infrastructure-like business” and sees the company’s battery-swapping network as part of a broader energy transition across African markets.
Spiro has deployed more than 100,000 electric motorcycles and established over 2,500 battery-swapping stations across seven African markets, including Kenya, Rwanda, Uganda, Nigeria and Cameroon. The company has raised about USD 557 M in total disclosed funding.
Transsion’s push into renewables comes as competition in smartphones intensifies. Chinese rivals including Xiaomi and Honor have eroded its lead, particularly in low-end smartphones. The company is seeking a main-board listing in Hong Kong to fund its expansion into electric vehicles, home appliances and renewable energy.
Africa’s electric two-wheeler market is poised for growth. Annual sales of motorbikes are projected to rise from 1.9 million units in 2023 to 2.3 million by 2030. The continent’s EV market is estimated to reach USD 28 B by 2030.
Transsion is betting that the distribution networks and local market knowledge that built its phone empire can now power its next act in renewable energy and electric mobility.
