Voi CEO says he’s open to acquiring Bolt’s micromobility business

Voi CEO Frederik Hjelm has expressed openness to acquiring Bolt’s micromobility business, although Bolt’s scooter and bike operations are not confirmed to be for sale. Hjelm highlighted the challenges Bolt faces in excelling across multiple verticals, including ride-hailing, grocery and food delivery, and car rentals. He emphasized that micromobility is particularly difficult due to its hardware demands and lack of network effects seen in other services like food delivery or ride-hailing. Hjelm also argued that local users of dockless e-scooters and e-bikes prioritize affordability and experience over brand loyalty or the convenience of a “super app,” suggesting that brand recognition alone does not guarantee a superior user experience. Other industry executives echoed skepticism about Bolt’s micromobility strategy. Bird’s Washinushi criticized Bolt for using price as a loss leader, leveraging revenue from other business areas to subsidize micromobility growth without significant investment in operational excellence. In contrast, companies like