Estonian company Bolt is co-financing new premium electric cars in European cities to help drivers transition towards electric transport and offer users more low-emission mobility options. 

The project has kicked off in four countries — Estonia, Poland, Portugal, and Azerbaijan — where Bolt is supporting fleet companies in adding Teslas and other premium electric vehicles to their fleets.

The initiative will expand to 10 cities in 2024 and scale up in 2025. In 2024, Bolt is co-financing an initial fleet of 350 Tesla vehicles in partnership with local fleet owners.

This initiative is based on a comprehensive driver survey, which showed that only 20% of non-electric vehicle ride-hailing drivers intend to switch to an electric vehicle in the next two years. The main obstacles to this transition were found to be the high purchase cost of electric vehicles and the cost and availability of public fast charging. The company´s co-financing programs aim to address some of these obstacles.

Bolt commits to achieving carbon net-zero status by 2040

Bolt is committed to investing in low-emission mobility options and making it easier for drivers and riders to switch to electric vehicles. The company’s long-term environmental commitment is to become a carbon net-zero company by 2040.

This announcement follows the company’s expansion of partnerships with public charging network developers in France, Kenya, Spain, Malta, Portugal, the UK, the Netherlands, and across the Baltics.

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