Bolt to expand EV option in South Africa – TechCrunch

Bolt, an Estonian on-demand transport company, is planning to launch electric taxi options for South Africa within four months of introducing ebike food delivery services.
Bolts' plan is in line with the introduction of a green category that allows riders to hail an electric or hybrid vehicle. This is part of the company's expansion to eco-friendly modes of transportation.

Paddy Partridge, Bolts regional director Africa and Middle East for Bolts, stated that we are planning to launch a green taxi category to South Africa within the next few months. We also plan to expand green categories to other African markets.

It already offers a green option for Kenyans, and also provides e-bike food delivery. It plans to also launch e-mobility options in East Africa for food delivery to other markets, such as Uganda and Tanzania.

Markus Villig founded the tech company in 2013. It has 45 offices in 45 countries, including seven in Africa. The services include ride-hailing and scooter, bike, and car rentals. Food delivery and grocery delivery are also available.

We see great potential in East Africa on the motorbike side and particularly for delivery. Partridge stated that we plan to increase our investments in this area as it eliminates the problems associated with fluctuating fuel prices. This is currently the largest operating expense for our couriers.

UNEP reports that there are huge opportunities for electric mobility, but most countries don't have the infrastructure necessary to make them a reality.

Many African countries are still hindered by a lack of infrastructure for charging, low power connectivity and expensive e-vehicles.

According to the SSA Nature Sustainability report, 12% of sub-Saharan Africa's total emissions are due to fossil-fuel vehicles. A transition to electric power could bring benefits to these countries.

Bolt has made arrangements with banks in Africa to enable its drivers to access credit for electric vehicles. It is also exploring other options, such as leasing companies or alternatives.

Many electric cars and bikes are expensive to buy, as well as the import duties. This discourages owners from purchasing them. He said that we are currently exploring vehicle financing partnerships for electric bikes and cars in Kenya and South Africa, which would make it easier for drivers access to electric vehicles and ultimately own them.

In the face of increasing competition from Uber and other companies like it, the company plans to expand its offerings across Africa.

Bolt recently launched a food delivery service in Nigeria and expanded its reach in South Africa with the introduction of the service in Johannesburg.

This follows a recent funding round of $696 million (600M), which the tech company said would go towards growing Bolt Market's new grocery delivery service and expanding other delivery and transport services.

Tekne Capital and Sequoia Capital were among the investors who participated in the round of funding that increased the company's valuation to 4 billion. International Finance Corporation invested $24 million (20), in the company at the start of the year.

Bolt Drive is one of the many services it plans to expand. It is a car rental service that was launched in early 2012 and offers a variety of options including a compact, mid-size, premium, SUV, van, and electric models. It is currently available in Tallin, Estonia. Plans are to expand the service in other European and African markets. Bolt Drive is a new addition to the range of micro-mobility scooters and ebikes that Bolt Drive has introduced to help people access more affordable, environmentally-friendly transport options. The e-mobility service can be found in more than 100 European cities.

For the benefit of all our customers, we continue to expand our operations. Partridge stated that our core business is to provide affordable, reliable and safe transportation services for everyone. We are thrilled to make traveling easier in many cities across Europe.