Like other ride-hailing companies, Bolt has been suffering from the coronavirus-related lockdown and economic downturn around the world. But the company is trying to find another revenue stream by launching electric bikes in Paris. Bolt plans to launch a similar service in other European capitals this year.

For the past couple of weeks, the only bike-sharing service that has been operating in Paris is Vélib’, the public bike-sharing service based on docked bikes and electric bikes. Many private companies have tried to compete with Vélib’ but they’ve all failed so far — Gobee.bike, Obike, Ofo, Mobike…

The most recent example is Jump, Uber’s micromobility subsidiary. Following a financial transaction with Lime, Jump has removed all its bikes from the streets of Paris, London, Rome, Brussels

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