Ride-hailing app Bolt expands to Italy in bid to shake up underserved market
Ride-hailing app Bolt launched operations in Milan on Wednesday in the first stage of a push to shake up the Italian urban transport market, which its CEO told Reuters remains heavily underserved despite the presence of U.S. rival Uber.
Estonia-based Bolt will work with hundreds of drivers in Milan – either official cab drivers or private hire car drivers – and expects to service millions of rides in the first year, said founder and Chief Executive Markus Villig.
“The market in Italy is at an early stage. We have a long-term view,” Villig said in an interview, adding that Bolt intends to later expand elsewhere in Italy to tap into its huge tourism industry.
