Bangladesh's Battery-Powered Rickshaws Are Changing

Nicole Mao and Yuwei Zhu, two Harvard graduates from China, started a battery manufacturing business in Bangladesh during the COVID-19 pandemic. Their startup, Tiger New Energy, developed a battery-swapping network for electric rickshaws, helping drivers save time and money. The network is rapidly expanding and is expected to have 1,000 stations by next year. Their lithium batteries, which offer better mileage and longevity than lead-acid batteries, have gained popularity. Instead of buying expensive batteries, drivers can swap them at automatic stations, making the process quick and easy. The startup has received initial investment from ADB Ventures and WaveMaker Partners.