Bolt gears up to invest €150 million to grow scooter and e-bike operations

The Estonian micro mobility app plans to operate 230,000 scooters and e-bikes by the end of the year
Bolt gears up to invest €150 million to grow scooter and e-bike operations

Estonia’s Bolt has said it will spend over €150 million in 2022 to further scale its scooter and e-bike operations as well as develop solutions to enhance user experience and safety. The mobility startup will expand its fleet to more than 230,000 scooters and e-bikes at the end of this year, across 250+ cities, up from 170 cities at this time last year.

The startup has witnessed a 500% increase in rides in March 2022 compared to the same time last year. 

Dimitri Pivovarov, vice president of rentals, Bolt, said: “Our mission is to help build cities for people, not cars, by providing more affordable and environmentally friendly shared mobility alternatives for all city trips. Scooters and e-bikes are a perfect alternative to cars for shorter inner city trips, so it's encouraging to see the customer demand for our scooters as we continue to expand across Europe.”

The overwhelming increase in scooter rides is a result of rapid expansion into new cities and countries. Bolt now has scooters in more than 170 European cities across 20 countries, up from around 60 cities in 15 countries twelve months ago, including extensive expansion in Germany. 

The company also intends to operate its e-bike and scooter fleets in more than 250 cities across Europe by the end of 2022. The company has already obtained licences to operate scooters in cities such as Oslo (Norway), Rijeka (Croatia), Turin (Italy) and Gothenburg (Sweden) this year.

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