Bolt launches car-sharing service in Europe amid competitors from Uber
Like ZipCar and Drivy, Bolt Drive will enable clients to lease a automotive on demand for a short interval by way of the Bolt app, which may also be used to hail a taxi, lease bikes and e-scooters, in addition to to order meals.
Bolt stated it’ll make investments 20 million euros ($24 million) in launching Bolt Drive in Europe this yr, beginning with a pilot within the Estonian capital of Tallinn the place it’s headquartered. A spokesperson for the corporate stated Bolt Drive will launch in a number of different European markets this yr if the Tallinn pilot is profitable.
The pilot will characteristic 500 autos together with fashions such because the Toyota Yaris, Volkswagen Golf and Skoda Scala, in addition to larger vehicles just like the Toyota CHR, Volkswagen Troc and Skoda Kamiq. There will even be electrical vehicles just like the Volkswagen ID.3 and premium vehicles just like the Volkswagen Arteon.
Prices will range relying on the automotive that’s rented. However a Toyota Yaris, for instance, will value 0.07 euros per minute (with an hourly cap of three.90 euros) and 0.15 euros per km. Which means the worth of renting a Toyota Yaris for 2 hours and driving it 10 km can be 9.30 euros. Customers do not need to pay for parking or gas.
Markus Villig, CEO and founding father of Bolt, stated in a press release that he desires individuals to surrender their very own private vehicles. “For individuals to modify from possession to on-demand transport, we have to provide a extra handy, inexpensive and environmentally sustainable possibility for each distance,” stated Villig, who grew to become the youngest founding father of a billion-dollar firm in Europe in 2019.
“We’re already doing this for brief and medium distance journeys. Bolt Drive now covers the remainder of the use circumstances, whether or not it is a journey to a shopping center or a weekend getaway.”
Bolt, which claims to have greater than 50 million customers throughout 40 international locations in Europe and Africa, is valued at round $2 billion. It raised 150 million euros final December in what was its largest funding spherical up to now, and 20 million euros from the World Financial institution’s Worldwide Finance Company (IFC) final month.