Image: Bolt
The start-up is co-financing Tesla vehicles with local fleet owners to improve their adoption across multiple European cities.
Bolt, the Estonian mobility start-up with operations in Ireland, has announced plans to bring new Tesla fleets to multiple European cities to boost the use of EVs.
The company said it already has Tesla fleets in Tallinn, Lisbon and Warsaw, with plans to expand this service to Amsterdam, Madrid, Berlin, Brussels and other European cities over the next couple of years.
“Bolt is committed to adding more electric vehicles to our platform across Europe as part of a longer-term investment in transitioning to zero-emission vehicles,” said Bolt senior VP of rides Paddy Partridge.
To achieve this goal, Bolt said it will co-finance Tesla vehicles in partnership with local fleet owners. The plan is to co-finance 350 vehicles in 2024 and scale up the programme significantly in 2025.
Bolt said it conducted a driver survey that suggests only 20pc of non-EV ride-hailing drivers across all platforms plan to switch to an EV in the next two years. This survey suggests the cost of EVs is one of the main barriers for a switch, as well as the price and availability of public fast charging.
“Our surveys indicate that the transition remains difficult for both self-employed drivers and fleet operators, as EVs are still up to 30pc more expensive than comparable ICE [internal combustion engine] vehicles,” Partridge said. “Our partnership with fleet companies marks the first step towards accelerating the adoption in key regions. The feedback from Warsaw and Lisbon, the initial cities launched, shows keen interest from fleet owners and we are confident in scaling up further through 2025.”
Launched in 2013 and with more than 150m customers globally, Bolt has been expanding its services across Europe and in Ireland. In May, Bolt secured €220m in a revolving credit facility to improve its financial standing ahead of a planned IPO (initial public offering).
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