Bolt and Volteum are launching an online cost calculator to help ride-hailing drivers compare the costs of electric vehicles (EVs) with their current internal combustion engine (ICE) vehicles, offering insights into potential savings.
The adoption of EVs in ride-hailing services is considered an important factor in reducing urban emissions. According to Bolt’s internal analysis, drivers using EVs tend to have higher earnings over time. However, concerns about upfront costs and uncertainty regarding long-term financial benefits have slowed adoption. A recent survey conducted by Bolt found that 35% of drivers hesitate to switch due to high initial costs, while 20% require more information about operational expenses.
The new calculator aims to address these concerns. It evaluates a driver’s current vehicle, mileage, fuel, and maintenance costs, incorporating urban driving data to suggest suitable EV options. The tool provides tailored cost comparisons based on actual expenses and specific EV models.
Federico Michelini, Vehicles & Electrification Manager at Bolt, said:We know from driver feedback and research that ride-hailing drivers can gain significant financial benefits from switching to EV, as well as future-proofing their vehicles against future regulatory changes. Despite this, many drivers are still hesitant to switch, because of high upfront costs and uncertainty about long-term savings. In fact, one in five ride-hailing drivers say they want more information on EV running costs and potential savings.
This new tool launched with Volteum addresses these concerns by providing clear and personalised cost comparisons based on each driver's actual expenses and specific EV models. We’re confident this will help the ride-hailing drivers make informed decisions and accelerate the transition to EVs.
The calculator will initially be available in the Netherlands and can be accessed for free in English and Dutch on the Bolt website. It analyses real-time data from over three billion local data points to compare the costs of an ICE vehicle with five recommended EV models.
Zsófia Tóth, Co-founder and CEO of Volteum said:We are thrilled to partner with Bolt on their electrification journey and support ride-hailing drivers in making informed decisions about switching to EVs. At Volteum, our mission is to enable every company to use EVs even more easily than traditional vehicles, and this partnership is a key step in that direction. We are excited to see this tool help thousands of drivers make informed choices and accelerate EV adoption in urban mobility, ultimately driving a more low-emission future.
This initiative is part of Bolt’s broader electrification strategy, Project Zero, which focuses on improving vehicle access, charging infrastructure, and driver awareness.
In addition to the calculator, Bolt has introduced an EV co-financing programme in 12 European cities to assist fleets in acquiring electric vehicles. The company is also investing in charging infrastructure, including ultra-rapid charging hubs exclusively for ride-hailing drivers, with the first facility launched in Stockholm in 2024 and further expansions planned for 2025.
Bolt has set a long-term environmental goal to become a carbon net-zero company by 2040. Increasing the number of EVs on its platform is a key component of this strategy.
