Connect with us

Hi, what are you looking for?


Bolt adds car-sharing service as next expansion path

Bolt Technology OU, which competes with Uber Technologies Inc in Europe and Africa, will roll out a new car-sharing project in the Estonian capital, according to founder and chief executive officer Markus Villig.

If the pilot in Tallinn proves successful, Bolt will quickly expand it to other cities as it’s done with the two-year-old food delivery service, which now operates in 20 countries, Villig said in an interview. The company will lease 500 cars for the initial stage, he said.

Car-sharing has been gaining momentum for the past past decade, with peer-to-peer services or fleets of vehicles linked via digital applications available in most major cities. The growing mobility industry is attracting billions of dollars in funding with bets on disrupting the traditional car-rental business model and on changes in ownership attitudes.

Bolt, which operates in about 40 countries in Europe and Africa, says it’s the first mobility platform in Europe to offer car-sharing, ride-hailing and micromobility with scooters and electric bikes in one app.

The latest addition, called Bolt Drive, will allow customers to unlock cars with the app and the company is betting it will prompt some drivers to give up car ownership.

“We are coming to the market with steeply lower prices than everyone else,” Villig said. This is a “price point where it truly makes sense for people to swap over for a car. “

After a $20 million fund raising round from the World Bank in March, Bolt is now valued at more than $2 billion. The company, whose previous investors included Daimler AG and China’s Didi Chuxing Inc., may raise additional funds over the next 18 months, subject to plans for expansion and negotiations with investors, Villig said.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


Samsung has failed to convince the North Gauteng High Court that its Galaxy S7 smartphone is not a “telephone for cellular networks”. Samsung brought the case...


The South African Reserve Bank has seized R19.669 million from the Nedbank account of Sahara Computers. Sahara Computers was owned and operated by the...

Internet & Data

YouTube recently announced that it is experimenting with temporarily removing the dislike button to prevent “dislike mobs” from negatively influencing content and channels. In the last...


Despite consumers often complaining about the low storage on entry-level iPhone models, Apple’s smartphones offer more storage than Android devices on average. This is...


Hon Hai Precision Industry Co. warned that component shortages could persist till 2022 and affect under a tenth of its shipments, amplifying concerns that a global...

Internet & Data

Cell C has launched new Home Connecta Flexi prepaid LTE plans with prices starting at R59 for 5GB anytime data and 5GB after-hours data....


Former South African Airways (SAA) CEO Vuyani Jarana has lost a 2018 bet that his turnaround plan will make the airline profitable in three years. Free...


South Africans now have more affordable 5G smartphones to choose from, with prices starting as low as R5,494. According to research firm Gartner, global...