Bolt Banks $235M Ahead of IPO
Welcome to the Micromobility Newsletter, your weekly digest of important events and industry news in the world of personal transportation.
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What You Need to Know Today
Estonian-based Uber rival Bolt , which offers bike- and scooter-share in addition to ride-hail, has received a $235 million ?credit facility in preparation for an upcoming IPO.
Chinese e-bike brand?DYU has secured $14 million in funding ?for product development and supply chain improvements. Retail partnerships with brick-and-mortar stores like Costco and Sam’s Club account for 90% of DYU’s revenue.
Nissan partners with the Spanish e-moped and minicar maker Silence ?to distribute the new S04 Nanocar. Owners of the S04 Nanocar can take advantage of Silence’s growing battery-swapping network in Europe.
Asian micromobility operator Beam Mobility ?says it hit EBITDA profitability ?in 2023 with a 36% increase in gross revenue from 2022, hitting a record USD $53 million.
Inspired by the success of BMW Motorrad, MINI chief executive is?considering ?developing an electric motorbike:?“I think this is interesting because it’s urban mobility... If we were to do something I would look into the family first and I think this is something I find interesting.”
In India, FAME-II two-wheeler subsidy ended on March 31. The program’s absence was felt immediately, with a nearly?50% MoM decline in electric two-wheeler sales in April .
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Ola Electric is seeing healthy growth, reporting a?54% YoY increase in registrations ?to 34,000 in 2023. As of the end of Q1 2024, the electric moped maker claims to have 52% of the Indian market share.
German electric moped manufacturer?Emco has acquired its bankrupt rival Unu .
Germany’s Nextbike will operate as an independent entity ?after being sold by Tier-Dott to a private equity firm.
Nepalese energy venture?Nebula Energy and Gogoro collaborate ?to bring battery-swapping to Nepal.
After experiencing a surge in cycling during pandemic,?Belgium invests $450 million into bike highways ?to provide safe infrastructure and keep cycling momentum high.
The city of Toronto’s micromobility strategy recommends?low-speed vehicles (LSVs) , rather than shared e-scooters, to address its urban mobility and climate issues.
A new California law (AB 361) will allow cities to use cameras mounted on government vehicles to?ticket drivers parked in bike lanes , but San Diego is reluctant to implement it because it may conflict with a new surveillance ordinance.
Bike-share programs in the US see?greater ridership with e-bikes ?which provide more accessibility of a wider demographic of the population.
LiveWire’s Q1 sales increased 86% YoY in 2024 , which was surprisingly good news as the Harley-Davidson electric brand had struggled to?reach profitability ?in its first quarters of operation.
Scotland is set to embrace the e-scooter revolution ?at last, with the Transport Secretary calling legalization “inevitable.”
A?recent study ?from British Columbia finds that 93% of e-bike rebate recipients were new to e-biking, and 60% were new to cycling in general.
By?one estimate , the number of U.S. cycling shops that specialize in electric bikes nearly doubled in the last year.
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Head of Strategy and Development, Virtas Partners | Seasoned Consultant | Accounting Advisory Expert | Growth-Oriented Leader
6 个月Looks like Uber’s competition is receiving a significant boost that can narrow the gap. I’ll be interested to see how this develops for Bolt. Thanks so much for sharing, Horace!