OTD Weekly: Oslo Approves Doubling E-Scooters to 16K

Bolt hits €2 Billion revenue, Apple tops AV disengagement reporting in California, Micromobility Inc.'s Q3 results and more...

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Mobility Market Cap Update

Bolt Hits €2 Billion Revenue

Bolt reported €2B ($2.11B) in revenue for 2024, an 18% increase from €1.7B in 2023. The company operates in 50 countries and leads the market in over 20.

AV Disengagement reporting: Apple Tops the List!

AV companies in California reported 6.5k AV disengagements in 2023, with Apple accounting for nearly half (3.2k). Three-fourths of these disengagements were initiated by the test driver. AutoX, Cruise, and Mercedes-Benz reported none.

Honolulu E-Bike Regulations

Honolulu's city council is drafting regulations for e-bikes, including speed limits, age restrictions, and helmet mandates, with plans to implement them by year-end. E-bike registrations have risen from ~1.4k in 2021 to nearly 8k in 2023.

Oslo to Increase Electric Scooters to 16k

Oslo City Council has approved doubling electric scooters to 16k, focusing on the outer city. The move aims to address micromobility demand, though concerns about city center congestion remain.

Barcelona to Mandate Helmets for E-Scooters

From February 1, helmets will be required for e-scooter riders in Barcelona under new safety rules. The legislation also mandates lights, bans sidewalk riding, and includes road restrictions. Final voting is scheduled for November 29.

Micromobility Inc. Reports Q3 Results

Micromobility.com Inc. reported a 37% revenue drop in Q3 2024, mainly due to declines in its European mobility and media segments. However, the company posted a net income of $4.974m, a recovery from last year’s loss of $9.47m, driven by gains from discontinued operations.

Pony AI Targets $413M in IPO and Private Placements

Pony AI plans to raise $413m through a U.S. IPO and private deals. The IPO includes 20m shares priced at $11–$13, valuing the firm at $4.55B. Investors, including BAIC, committed to $74.9m in IPO shares and $153.4m in private placements.

Japan Tests Level-4 Autonomous Trucks

Japanese truck makers, including Isuzu and Hino, are testing Level-4 autonomous trucks on the Shin-Tomei Expressway under a government project (2021–2025) to tackle driver shortages. Deployment is planned for 2026.

Baidu Reduces Apollo RT6 Production Costs

Baidu has lowered the production cost of its Apollo RT6 self-driving vehicle to $34.5k, positioning it as the only mass-produced L4 autonomous vehicle. The company expects hailing L4 robotaxi costs to halve, compared to traditional taxis.

CCPA Orders Investigation into Ola Electric

The Central Consumer Protection Authority (CCPA) is investigating Ola Electric after over 10,000 complaints about service delays and product issues. The Bureau of Indian Standards (BIS) will report findings within 15 days.

Saudi Ride-Hailing Industry Hits $292M in 2023

Saudi Arabia's ride-hailing sector grew 12% in 2023, with 51.8m trips. Riyadh led with 39% of trips, followed by Makkah (25%) and the Eastern Region (16%).

Coquitlam Proposes New Bike Lane on Pipeline Road

Coquitlam plans to build a dedicated bike and scooter lane on Pipeline Road by summer 2025 to enhance safety by separating cyclists and pedestrians from traffic. The $1m project includes intersection upgrades.

Cruise Fined $500K for False Report

Cruise has agreed to pay a $500k fine for submitting a false report to the NHTSA about an Oct 2023 robotaxi crash. The company will implement a safety compliance program, while also facing executive resignations, workforce cuts, and an $8m settlement with the injured pedestrian.

Dott Expands E-Bike Fleet in Turin

Dott has added 500 e-bikes to its fleet in Turin and surrounding municipalities. The e-bikes, which reach a maximum speed of 25 km/h, complement the company’s existing scooter offerings.

Capital Bikeshare Reaches 700k Rides

Capital Bikeshare recorded 725k rides in October, bringing total rides for the year to over 5 million. Of these, 62% (448k) were on e-bikes.

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