The Estonian ride-hailing app Bolt announced that it is live in London rivalling its larger competitor, Uber (NYSE:UBER).
Formerly known as Taxify, the company is based in Tallinn, Estonia.
A post on Bolt’s website reads that as of 11 June, Bolt is live in the nation’s capital city.
“London is more than just a city. It’s a symbol of a cosmopolitan way of life, a life full of choices and opportunities. We believe that the drivers in London deserve to have a choice of higher earnings while the passengers deserve a smarter way to move around the city,” Bolt’s website reads.
One of Bolt’s main methods of competing in London is by promising to take a smaller cut of its driver’s earnings.
Bolt insists that its drivers pay only 15% commission on completed trips, up to 50% less than its competitors. Additionally, Bolt said that it will add £1 to any journey that begins, finishes or travels through the ultra-low emission zone 24/7, to assist in paying congestion charge costs. This £1 contribution will go directly to the driver, the company added.
Moreover, Bolt said that, on average, its passengers will save 5-10% per trip.
Among its features, it’s also offering an in-app SOS-button that directly notifies the emergency services when pressed, as a method of upholding its driver’s and passenger’s safety.
Bolt’s return to London comes almost two years following the revocation of its operating license. Its operating license was suspended in September 2017 after questions emerged concerning how its permit was obtained in the first place.
The London ride-hailing app market is particularly busy, with Uber as Bolt’s larger and global rival.
Uber itself has faced many controversies in the past, from its work place culture to the poor treatment of its drivers. Just last month Uber drivers across the UK took part in strikes against pay and work conditions, ahead of the launch of its IPO.
As of 19:59 GMT-4 Monday, shares in Uber Technologies Inc (NYSE:UBER) were trading at -3.51%.
