Uber Peer Bolt Launches Car-Sharing Project In Tallinn: Bloomberg

  • Uber Technologies Inc UBER ride-hailing peer, Bolt Technology OU, will initially launch a car-sharing project, Bolt Drive, in the Estonian capital, Tallinn, at steeply lower prices compared to the competition, Bloomberg reports
  • It will follow by subsequent expansion to other cities akin to its food delivery service.
  • Bolt operates in roughly 40 countries in Europe and Africa. The company is the pioneer mobility platform in Europe to offer car-sharing, ride-hailing, and micro-mobility with scooters and electric bikes in one app.
  • The initiative will let customers unlock cars with the app. The company estimates the initiative to influence various drivers to renounce car ownership.
  • Bolt is presently valued at $2 billion after March’s $20 million fundraising round from the World Bank.
  • Bolt’s previous backers include Daimler AG DMLRY DDAIF and China’s Didi Chuxing Inc. The company may raise funds over the next one and a half years, subject to expansion plans and investor negotiations.
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