Helbiz to Acquire Wheels to Expand its Micromobility Services

Micromobility company Helbiz has signed a letter of intent to acquire Wheels by the end of 2022.

Wheels offers last-mile, shared electric mobility services that will complement Helbiz’s micromobility fleet and increase the number of cities Helbiz serves. Wheels currently deploys eight thousand vehicles across the US in cities such as New York City, Honolulu, LA and Austin.

Helbiz and Wheel Merger
Helbiz and Wheels have signed a letter of intent for Helbiz to acquire the Los Angeles-based shared micro-mobility platform by the end of this year, in primarily an all-stock deal
Helbiz CEO and Founder Salvatore Palella said:

“The shared vision and purpose of Helbiz and Wheels makes this combination a perfect match. Both companies began with the goal of changing how people move through their communities while lessening their dependence on climate-harming transportation options. We’re excited to join forces with the talented team at Wheels and introduce our respective riders to a further range of transportation options.”

Wheels has developed a sit-down vehicle with a low centre of gravity and 14-inch wheels to help navigate uneven pavement surfaces. This design has helped attract a range of riders. Usage is split evenly between the sexes and a third of riders is over the age of 35.

The new venture will also bring together technologies such as Wheels’s unique vehicle with a patented integrated helmet to Helbiz’s AI-powered sidewalk detection system and helmet selfie technology.

Marco McCottry, CEO of Wheels said:

“Our businesses are complementary in really powerful ways. There is minimal overlap of city permits, and we believe the combination of our businesses can create a uniquely diversified mobility offering that generates compelling synergies across a large footprint. Helbiz’s shared vision of safety and accessibility matches ours and will be a significant element of the foundation of this venture into the future.”

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