Bolt is betting that South Africa’s next ride will be a Chinese electric car
TL;DR
Bolt has partnered with China’s Dongfeng Motor Group to roll out electric vehicles on its ride-hailing platform in South Africa, starting in Cape Town. The Estonian company claims more than 50% market share in the country after investing roughly $180 million. The deal pairs Dongfeng’s Box hatchback and 007 sedan with Bolt’s driver network as rising fuel prices make EVs increasingly attractive for ride-hailing economics.
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...
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