Launch Base Africa published on 22 June 2026 an article titled "NewTrails Capital, Backed by Africa's Leading Smartphone Manufacturer, Invests $55M in EV Startup Spiro."
China's Transsion Holdings, Africa's biggest smartphone seller, currently commands nearly half of the continent's market. Through its stake in a Chinese growth-stage fund called NewTrails Capital, Transsion is investing $55 million in Spiro, Africa's largest electric vehicle and battery-swapping company. For Spiro, the relationship opens doors to Chinese suppliers that could be decisive as it scales.
