99 Announces R$2 Billion Investment in Brazilian Delivery Fleet,Backed by Lula Administration
SÃO PAULO – 99,the Brazilian ride-hailing and delivery platform,announced a R$2 billion (approximately $390 million USD) investment package in partnership with the Lula administration,focused on expanding access to electric mobility for delivery drivers across Brazil. The initiative aims to provide credit lines totaling R$6 billion to platform motorcyclists for the acquisition and rental of motorcycles and electric bicycles.
The investment will facilitate access to electric mobility technologies nationwide, increasing earnings for delivery workers, according to company executives. 99 has already established similar partnerships in Mexico and Colombia.
The company is partnering with Galgo, Riba, and Vammo platforms to offer financing and rental options for electric models. The program is currently available in São Paulo and Belém – the host city of COP30 – with plans to benefit up to 600,000 deliverers by 2030.
Beyond financial support, 99 is also developing an electric motorcycle in partnership with Chinese brand Yadea, with a plant already inaugurated in Manaus. The Keeness model is priced at $29,000.The company is also launching an AI agent designed to streamline food ordering.
this declaration comes amid a growing “war of apps” as food delivery platforms compete for market share in Brazil, with billions of dollars at stake. Meituan, a Chinese delivery giant, is also preparing to enter the Brazilian market.