The Baltic States are currently not the main market for the Bolt transport services and delivery platform. This was stated by the company’s president, Jevgeni Kabanov, in an interview with the LETA News Agency.

“There are many markets in Europe and elsewhere that are much bigger for Bolt than the three Baltic States combined,” he said.

Kabanov explained that Bolt currently has a presence in 55 countries, including all European countries apart from Bulgaria. It is also present in 27 countries outside of the continent.

The company president added that Bolt is the market leader in most European countries, though that depends on which services are provided in the various nations.

At the same time, Kabanov also feels that there is a lot of room for growth in Europe, particularly given very conservative regulations there, as compared to other markets.

“If you look at the three largest economies in the world – China, the United States and the European Union, and then equate them in economic terms to one market, then both China and the United States are much bigger markets in terms of gross domestic product (GDP) and GP per capita,” Kabanov says. “There are still many restrictive regulations in Europe, so we believe that there is plenty of room for expansion.”

The company president also noted that Bolt is particularly expanding its presence outside of Europe, launching its services last year alone in Thailand, Malaysia, Dubai and Egypt. Bolt also offers car-sharing services in Canada and electric scooters in the United States.

Source: BNS

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