Bolt partnered with Dongfeng Motor Group to deploy an electric-vehicle fleet on Bolt’s ride-hailing platform in South Africa, beginning in Cape Town. Dongfeng’s Box hatchback and 007 sedan will be offered to riders through Bolt, with Yugo Rides operating the vehicles. The rollout is driven by rising demand for Chinese electric vehicles and by economic pressure from higher fuel prices affecting ride-hailing drivers in emerging markets. Bolt plans a phased approach because of infrastructure constraints, especially the availability of charging stations. Bolt also positions South Africa as a major market, claiming more than 50% ride-hailing market share and describing the country as a strong strategic priority.
"Bolt Technology, the Estonian ride-hailing company that has spent roughly $180 million building a dominant position in South Africa, has struck a deal with China's Dongfeng Motor Group to roll out an electric-vehicle fleet in the country. The partnership will start in Cape Town, with Dongfeng's Box hatchback and its more premium 007 sedan available to riders through Bolt's platform. A fleet management company called Yugo Rides will operate the vehicles."
"The deal is a bet on two converging forces: rising global demand for Chinese electric vehicles and the economic pressure that elevated fuel prices, driven in part by the Iran conflict, are placing on ride-hailing drivers across emerging markets. Simo Kalajdzic, who manages Bolt's South African operations, said the company is taking a phased approach to the rollout because of infrastructure constraints, particularly the need for sufficient charging stations."
"Bolt claims more than 50% of the ride-hailing market in Africa's largest economy, a figure that, if accurate, would make South Africa one of the few markets globally where Uber is not the leading platform. The company has invested about $180 million in building out the local business and says South Africa consistently ranks among its top 10 markets worldwide. Kalajdzic described the country as a " strong strategic priority. ""
Read at TNW | Electric-Vehicle
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