Bolt launches car-sharing service in Europe in competition with Uber

Bolt CEO Markus Villig


Bolt, the most well-known Estonian company in the ride-haling business, announced on Tuesday that it has launched a car-sharing service in Europe with the aim of diversifying its revenue streams.

Like ZipCar and Drivey, Bolt Drive allows customers to rent a car for a short time on demand via the Bolt app, which can also be used to call a taxi. Bicycle rental And e-scooter, and Order food..

Bolt said he would invest 20 million euros ($ 24 million) to launch Bolt Drive in Europe this year, starting with a pilot in Tallinn, the capital of Estonia, where it is headquartered. A spokesperson for the company said that if Tallinn’s pilot succeeds, BoltDrive will be launched in several other European markets this year.

The pilot will feature 500 vehicles, including models such as the Toyota Yaris, Volkswagen Golf and Skoda Skala, as well as large vehicles such as the Toyota CHR, Volkswagen Trok and Skoda Kamiku. There are also electric cars like Volkswagen ID.3 and premium cars like Volkswagen Arteon.

The cost depends on the car you rent. But, for example, Toyota Yaris costs € 0.07 per minute (up to € 3.90 per hour) and € 0.15 per km. So if you rent a Toyota Yaris for 2 hours and drive 10 km, it costs 9.30 euros. Users do not have to pay for parking or fuel.

In a statement, Bolt CEO and founder Markus Villig said he wanted people to give up their car. “In order for people to switch from ownership to on-demand transportation, they need to offer more convenient, affordable and environmentally sustainable options over all distances,” says Villig. .. Became the youngest founder of a billion-dollar company in Europe in 2019..

“We’re already doing this on short and medium haul trips. Bolt Drive now covers the rest of the use cases, whether it’s a trip to a shopping center or a weekend vacation. . “

Bolt claims to have more than 50 million users in 40 countries in Europe and Africa and is worth about $ 2 billion. It raised € 150 million in the largest round of funding to date in December last year and € 20 million last month from the World Bank’s International Finance Corporation (IFC).

Bolt launches car-sharing service in Europe in competition with Uber

Source link Bolt launches car-sharing service in Europe in competition with Uber

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