boltthe leading European mobility app, has announced its strategy in Spain for the coming years. The company was founded in 2013 and currently operates in more than 45 countries worldwide, with a strong presence in Europe and Africa. Bolt is now focusing on its consolidation as the leading mobility platform in Europe and its international expansion in Latin America and Asia, where it has managed in record time to position itself as a market leader in some countries such as Paraguay. As far as Spain is concerned, despite the regulatory restrictions: The company achieved sales growth of 30%.
The successive court decisions at European and national levels predict a promising and strategic year 2024 for the mobility sector in Spain, especially due to the legal certainty in favor of the coexistence of different models and multimodality. This will undoubtedly bring important benefits and growth opportunities to these companies. In the words of Daniel Georges, Director of VTCs and Taxis at Bolt in Spain, “In 2024 there will be legal certainty in many regions and autonomous communities where we have previously encountered difficulties, which we hope will lead to growth and improvement of the service.” Doubling the business volume, both in travel and billing.” According to the manager, their expansion is accompanied by consolidation in the markets in which they previously operated and in which they are already positioned second player.
Bolt has leadership status in many countries, allowing it to remain profitable and adapt to regulatory changes in each market. Spain is among the countries where regulatory changes have had the greatest impact on the sector, and its expansion plan will be determined by both market conditions and possible future legislation. Against this background, the company remains optimistic. Nuno Inácio, General Director for Southern Europe, has assured that the main action plan in Spain includes investments 100 million euros over the next three years. This number is used to improve the relationship with the partnerFleet electrification and, among other things, increasing the quality standards of the services offered by the company.
Fleet and driver loyalty
The company entered Spain in 2020, a vulnerable year for the mobility sector. In this regard, Bolt pointed out that more than 80% of VTC license holders are SMEs and self-employed compared to large fleets, which is why they had to sell due to the economic consequences of the pandemic. Since then, The company's goal is to fill this gap in the industry and establish itself as a reference for small fleets. This allows them to earn a cheap income to continue their business.
The entire expansion strategy at the utility level is focused on making people's lives easier Partner, and Bolt has now become the platform of choice for them. According to managers, it is not enough to earn more, it is necessary that they have tools that allow them to run their business effectively. That's why they created Bolt VIP, a fleet loyalty program that allows them to reduce costs and maintain more efficient and higher quality fleets through discounts and agreements with brands. An example is the agreement with Repsol on fuel offers. The program already covers 40% of fleets and self-employed people (measured by license volume) within this loyalty program, which continues to grow with ambitious expansion plans.