Micromobility Industries first defined and now curates the future of urban transport that comes from small electric vehicles. Ride AI is now the focusing force of our industry as we explore how artificial intelligence will change the way we move. Ride AI is hosted by Ed Niedermeyer an American author and analyst who focuses on the automotive industry and mobility innovation. Co-Hosts of the show include Horace Dediu, Oliver Bruce and James Gross.
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66: Exploding demand for Delivery Worker Micromobility - Mina Nada of Bolt Bikes
This week Oliver interviews Mina Nada, CEO of Bolt Bikes, about their business leasing ebikes to delivery gig workers like UberEATS/Deliveroo/DoorDash in the UK, US and Australia. Given everything happening right now with COVID19 and the explosion in delivery based meal consumptions, this is a great interview. Specifically, we dig into: - Mina’s background at Bain, Deliveroo and Mobike, and how that prepared him for Bolt Bikes. - The unit economics of their business, including 6 month paybacks, 3 year cycles and 66% residual value for depreciated bikes. - How most markets are still allowing takeaway and delivery during COVID19 lockdowns. - How couriers calculate the costs and tradeoffs of leasing vs owning their own vehicles (ie. bikes, ebikes vs mopeds) and why the end-to-end and flexible nature of access positions Bolt well to solve the job to be done. - Their plans for expansion and vertical integration into their own Bolt hardware - A discussion about ebikes and the future of the fleet, including e-mopeds and the newly released Arcimoto delivery vehicle. - Bolt’s ability to raise debt capital to fund expansion - Why they plan to double down on B2B rentals, and not focus at all on B2C. It was a great discussion - well worth listening to!