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Bolt returns to Spain with its own VTC service to add more competition to the duopoly of Uber and Cabify

Bolt landed in Madrid final Might with his shared electrical scooters, however now the Estonian-based firm has gone one step additional and declares that begins its own VTC service in Madrid. After a number of years the place Uber and Cabify have been the solely corporations which have competed with the taxi, collectively with the Free Now provide, they’re now joined by an organization that already operates in 40 nations and 200 cities.

In the similar method that Uber or Cabify already provide, Bolt will provide all its providers by means of a cellular software, from the place customers can reserve and pay for the automobile for the journey, with a preset value.

Much less commissions to strive to appeal to drivers

In complete, Bolt’s touchdown in Spain it will likely be with about 50 VTC automobiles, as described by The Info. At the second there aren’t any plans to increase exterior of Madrid. To get more drivers, from Bolt promise higher charges: up to 50% lower than the competition, as defined from Bolt.

For customers, the pricing coverage to stand out out of your rivals will probably be based mostly on introductory gives with up to 70% throughout the first 5 journeys.

Bolt App

Bolt App

This worth battle will strive to provoke a response in Uber and Cabify. “Our goal is to promote an orderly coexistence of taxis and VTC, understanding these means of transport as a complement for higher city mobility”, explains Daniel José Georges, Bolt’s Director of Operations.

The low mobility scenario brought on by the pandemic has generated a possibility for brand spanking new actors. VTC licenses are restricted by the completely different municipalities.

What each political party thinks about the conflict between the taxi, Uber and VTC licenses

In early 2020, Bolt secured a € 50 million spherical of funding to increase throughout Europe. Not solely in the shared scooter section, however as a generic mobility resolution.

In Engadget | The top of the VTC as we all know it: communities and municipalities might restrict them inside a interval of 4 years

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