Bolt, the Estonian ride-hailing giant, is set to expand its operations in Saudi Arabia, capitalizing on the country’s dynamic business environment and aligning its vision with Saudi Arabia’s Vision 2030. The company, operating in 45 countries with a valuation of โฌ7.4 billion ($8 billion), has experienced tenfold growth in Saudi Arabia over the past three years. Bolt aims to contribute to Vision 2030’s goals of smart cities and sustainable transportation systems by providing convenient, affordable, and environmentally friendly mobility solutions. The strategic move is bolstered by Bolt’s successful collaboration with Saudi authorities, and the company sees significant opportunities in the Kingdom’s growing tourism sector and expanding business hubs.
Martin Villig, Chairman and Co-founder of Bolt, emphasized the company’s commitment to supporting Vision 2030, navigating regulatory landscapes collaboratively, and contributing to the country’s strategic goals. With Bolt playing a vital role in facilitating mobility for over 27 million foreign tourists in 2023, the company views Saudi Arabia as an attractive investment opportunity. Bolt’s expansion aims to address urban mobility challenges, reduce reliance on private cars, and alleviate issues like congestion and pollution. Martin Villig is scheduled to speak at Saudi Arabia’s LEAP 2024, emphasizing Bolt’s role in enhancing transportation solutions in the Kingdom.