Estonia’s Bolt to invest €100mn in rental services in 2021

Estonia’s Bolt to invest €100mn in rental services in 2021
By bne IntelliNews November 12, 2020

Maverick Estonian transport company Bolt announced it will expand its light-duty electric vehicle rental service to 100 European cities and bring 130,000 electric scooters and bicycles to the streets in 2021. The total investment will be over €100mn.

The investment will be directed to expanding the rental business, product development and the production of Bolt's own scooters, the company said.

This year, Bolt launched scooter rental services in 15 countries and 45 cities. In addition to scooters, electric bicycles were also brought to the streets in France, Spain, Portugal and the Czech Republic.

In May of this year, Bolt introduced an electric scooter model designed and manufactured by the company itself. The new model is 100% recyclable, meets ISO standards and has a lifespan of up to five years.

Last year, Bolt published a long-term green strategy to reduce the company's ecological footprint. In addition, Bolt announced in September this year that it would make the scooter business climate-friendly by the end of 2020.