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Bolt to invest €100 million in France in five years

Mobility company Bolt has announced that it will invest 100 million euros in France over the next five years.

Bolt founder Markus Villig announced the investment at French President Emmanuel Macron’s “Choose France” summit at the Palace of Versailles, which aims to attract foreign investors to France.

Bolt founder and CEO Markus Villig announced that France is the company’s second-largest market. Since the company was founded, Bolt operates in more than 30 cities in France and employs 50,000 drivers.

“France is our second largest market. As an Estonian company, we are committed to sustainable growth and innovation in Europe,” said Villig.

Bolt directs money into three key areas: financing low-emission vehicles, creating a driver centre in Saint Ouen, and financing driver training.

The majority of the investment will go to the acquisition of hybrid and electric cars. The investment will create a driver centre in France for Bolt partner drivers that offers assistance in becoming a Bolt driver, dealing with current issues, insurance assistance, and vehicle maintenance. Part of the investment will be allocated to the Bolt Academy, which aims to provide specialised driver training, such as safety training.

In addition, Bolt is exploring opportunities to diversify its service portfolio in France, considering bringing mobility solutions such as electric scooters and bicycles to the country.

Bolt’s services are currently available in more than 30 cities in France, with the platform employing more than 50,000 drivers.

At this event, another Estonian company, Skeleton Technologies, announced a significant 600 million investment in France.

Since its launch by the President in 2018, the “Choose France” Summit has established itself as a major annual economic event. At this event, France attracted a record 15 billion euros ($16.17 billion) in 56 new projects in foreign investment pledges, which allowed President Emmanuel Macron to enjoy the spotlight with global CEOs.

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