Electronic car-hailing company Taxify – the cheaper rival to Uber is now called Bolt.
The Estonian company announced the change on Thursday, and quickly updated its apps and their various listings in app stores to, for the time being “Bolt (Taxify)”.
Bolt/Taxify is reportedly looking for more funding, after it raised the equivalent $1 billion valuation in May 2018 from an investor group led by Daimler, the parent company of Mercedes-Benz.
The company said it had “started to outgrow” its brand and wanted to highlight that it is not all about cars – and that it believes the future of transportation is electric.
“Bolt” was a sub-brand of Taxify launched in Paris six months ago to offer short-term electric scooter rentals. Much like Uber offers Uber Black and Uber Van as services within its app, Bolt was available alongside traditional car e-hailing in the Taxify app.
Ride-hailing companies – and focussed competitors – believe such scooter rentals are the inevitable victor for short-hop trips within major cities.