The Brazilian company that sells Lev electric scooters is now officially certified as a fully green business, which will allow it to borrow cheaply up to 58 million reals (about US$10.9 million) to expand its distribution network, O Globo reports.
The Brazilian newspaper says the company intends to borrow from Brazilian bank Itaú BBA to increase the number of Lev dealers to 110 by 2024, with at least one in every Brazilian state, from 19 now.
A study by the Federal University of Rio de Janeiro mobility laboratory found that the use of Lev scooters is already cutting carbon emissions by the amount that it would take 93,900 trees to absorb, the report says.
It says brothers Rodrigo and Bruno Affonso designed the six models of Lev scooter, and that the vehicles are made in China for sale in Brazil.
The brothers founded their business in 2010, after one of them was inspired to venture into electric scooters by a period spent in China, O Globo says.