Friday, August 19, 2022

Sprinter Usain Bolt’s start-up stops operations

Bolt Mobility stopped operating in at least five US cities, including Portland, Oregon, Burlington, South Burlington and Winooski in Vermont and Richmond, California

PRAVASISAMWAD.COM

Mobility start-up Bolt Mobility, co-founded by eight-time Olympic gold medalist Usain Bolt, has suddenly disappeared from several of its markets in the US, leaving e-bikes and equipment abandoned amid unanswered calls, according to a media report in deccanherald.com.

According to a TechCrunch report, Bolt Mobility stopped operating in at least five US cities, including Portland, Oregon, Burlington, South Burlington and Winooski in Vermont and Richmond, California.

Bolt’s social media has now gone silent, and hasn’t posted on Instagram since June 11 or on Twitter since June 2

Portland suspended Bolt’s permit to operate there last month after the company failed to “provide the city with updated insurance and pay some outstanding fees”. Bolt had a presence in more than 50 markets across the US.

Bolt had raised $40.2 million, along with an undisclosed investment from Chennai-based Ram Charan Company in India in May this year. The investment from Ram Charan Company was set to be used to propel transportation sustainability efforts by bringing cutting-edge solid state battery technology; energy-efficient, metallike plastics made from recycled waste; and coiless electric motors to small and personal vehicles, Charan had said in a statement.

Bolt’s social media has now gone silent, and hasn’t posted on Instagram since June 11 or on Twitter since June 2.

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Gyanendra
(Gyanendra has been teaching and writing for the last 15 years. His passion for teaching keeps him engaged. He keeps a keen interest in Sports and Current Affairs.)

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