An e-bike and scooter-sharing startup was co-founded by Olympian Usain Bolt who would appear to shut down operations he has highlighted the recent issues within the micro-mobility sector. Bolt Mobility was present in almost around five cities which includes Portland, Burlington, Vermont and Richmond in California, along with others through acquisition and well, a few of those were facing abandoned equipment and unanswered calls.

HIGHLIGHTS
Olympian Usain Bolt has to shut down operations of its e-bike sharing company
The company vanished leaving behind the equipment and emails and calls unanswered
In July, Bolt Mobility lost its allowance to operate in Portland

A transport planner in Chittenden Country, Vermont has mentioned that 'We have learned one or two of weeks ago (from them) that Bolt is ceasing operations.' He added that 'They have become non-existed, leaving behind the equipment and emails and calls unanswered. We have been unable to reach anyone, however it looks that they had closed shop in different markets as well.'

Bolt Mobility had eventually expanded to not less than 18 months ago, shopping for the assets of Last Mile Holdings, which have been operating Gotcha and OjO Electric. It has opened up to forty eight new markets to the company in smaller cities like Raleigh, NC and Mobile, Alabama.

However, Bolt Mobility lost its allowance to operate in Portland in the month of July because of problems with insurance and outstanding fees. A spokesperson in Burlington had mentioned that around one hundred bikes were left inoperable along with dead batteries, with the city asking the company to claim them before the country takes ownership. One of the Burlington representatives had mentioned that 'All of our contacts at Bolt along with CEO have gone radio silent and haven't replied to our emails.'

Well, scooter startups like Bird have hit the skids once it had started as billion-dollar 'unicorns.' Bird's downside has been basically that it charges a good quantity of money, around $6 for a 20-minute rental, which would be quite an bit more than a metro or bus ride. Bird has lost an enormous quantity of money in 2020 when it has once taken barely $79 million in revenue which was down 40 percent over 2019. Following a SPAC merge, recently its stock value has eventually cratered from $10 to simply over 50 cents.

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