Russia is a relatively late bloomer in the market of shareable electric scooters, which are available for rent through a number of different smartphone apps.
E-scooters, fueled by billions in venture capital funding, first spread rapidly across the U.S. and quickly spread to European capitals. The vehicles, which take up less room than cars or even bikes and are easy to use, are seen by investors as a promising market with significant growth potential. According to the consultancy McKinsey, the sharable e-scooter industry could be worth up to 150 billion euros in Europe by 2030.
Eager to tap into the market, European and Silicon Valley startups have battled over market share in Europe’s capitals. Western companies, however, have not been able to capture the Russian market, which is dominated by Russian startups called Whoosh and Urent.
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