“Bolt Mobility vanishes abruptly” Usain Bolt’s start-up backed by Indian firm has ceased operations in US

“Bolt Mobility vanishes abruptly” Usain Bolt’s start-up backed by Indian firm has ceased operations in US

Usain Bolt launching Bolt mobility in Paris

Usain Bolt, who has won eight Olympic gold medals, co-founded the mobility firm Bolt Mobility. According to reports in the media, Bolt Mobility abruptly vanished from some of its markets in the US, leaving e-bikes and other equipment abandoned and unanswered calls.

In May of this year, Bolt raised $40.2 million in addition to an undisclosed investment from the Ram Charan Company in Chennai, India. A TechCrunch article states that Bolt Mobility ceased operations in at least five US cities, including Portland, Oregon, Burlington, South Burlington, Winooski in Vermont, and Richmond, California.

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Following Bolt’s failure to “present the city with current insurance and pay some overdue fees,” Portland last month halted the company’s authorization to conduct business there. “City representatives said they were unable to reach anyone at Bolt, including its CEO Ignacio Tzoumas,” said the report on late Sunday.

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“All of our contacts at Bolt, including their CEO, have gone radio silent and have not replied to our emails,” according to Robert Goulding, manager of public information for the Department of Public Works in Burlington. Over 50 markets in the U.S were serviced by Bolt.

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Bolt Mobility partnered with Ram Charan and its group companies

Usain Bolt launching Bolt Mobility
Usain Bolt launching Bolt Mobility

With the help of innovative solid-state battery technology, plastics that look like metal but are made from recycled materials, and electric motors for small and personal vehicles, the Ram Charan Company‘s investment in May was intended to advance efforts to make transportation more sustainable.

“Our partnership with Bolt Mobility, a brand with high standards in performance and sustainability, is an important step forward for Ram Charan and its group companies,” said Kaushik Palicha, Director, Ram Charan, in a statement. “We will support Bolt’s vision of ensuring sustainability throughout their entire value chain, from the quality of energy, quality of materials, and the reach of their mobility devices,” Palicha said.

“I look forward to partnering with Ram Charan as we help usher in Transportation 2.0,” Bolt CEO Tzoumas told. “Together, we are helping create healthier, more livable cities of the future”. Since June 11 on Instagram and June 2 on Twitter, Bolt’s social media has gone silent, and has stopped posting on both platforms.

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