Bolt's Data Reveals Growing Preference for Emission-Free Urban Mobility Among Thais

- Bolt's Green category has experienced a remarkable increase in active EV cars, with a growth of +257.5%.
- Bolt's EVs have travelled an impressive +4.51 million kilometres, a distance roughly equivalent to 112 trips around the world at the equator.
- These substantial changes on the Bolt platform align with findings from a recent report by the National Institute of Development Administration (NIDA) and EV-maker Great Wall Motor.

In celebration of World Car Free Day this September, Bolt is proud to showcase the remarkable growth in its Electric Vehicle (EV) category, underscoring the company's commitment to emission-free urban mobility. This significant milestone aligns perfectly with the global movement advocating for reduced reliance on traditional fuel-powered vehicles and the promotion of cleaner transport alternatives.

As of August 2024, Bolt's Green category has experienced a remarkable increase in active EV cars, with a growth of +257.5%. This surge in electric vehicles on the road reflects a significant shift towards low-emission transportation options among Bolt users. Collectively, Bolt's Green category has travelled an impressive +4.51 million kilometres, a distance roughly equivalent to 112 trips around the world at the equator. This milestone not only underscores the growing popularity of EVs but also illustrates how the rise in electric kilometres is contributing to reduced carbon emissions and cleaner air in cities.

These substantial changes on the Bolt platform align with findings from a recent report by the National Institute of Development Administration (NIDA) and EV-maker Great Wall Motor. The report reveals that lower fuel costs are a major factor driving the shift from internal combustion engine (ICE) vehicles to EVs among Thai users. According to the study, 34.1% of those who have made the switch to EVs cited cheaper electricity as a key reason. Additionally, 81.3% of drivers currently using fossil fuel vehicles expressed interest in transitioning to EVs, with 89.4% identifying lower fuel costs as their primary motivation.

Nathadon Suksiritarnan, General Manager of Bolt in Thailand, commented: "As we celebrate World Car Free Day, we are thrilled to see such substantial growth in our Green category. While becoming completely private car-free is a long-term goal, it is important to celebrate these significant milestones that bring us closer to a cleaner, zero-emission future. This success reflects our users' growing awareness and commitment to electric and hybrid shared mobility. It also highlights that Thai people are not only choosing lower-emission options for their private use but are also increasingly embracing shared mobility solutions. This trend indicates a significant potential for growth in shared mobility and underscores the demand for more diverse and accessible options. We remain dedicated to expanding our emission-free initiatives and providing more low-emission options, including hybrid ones, for urban transportation. To sustain this growth, we are actively engaging in discussions with drivers to understand the benefits and barriers they encounter and to find efficient solutions to challenges surrounding EV infrastructure and costs."

Thailand's commitment to reducing emissions is evident in its goal to cut emissions from the energy and transport sectors by 7%-20% compared to a business-as-usual scenario, aiming for a 20%-25% reduction in greenhouse gas emissions by 2030 relative to 2005 levels. The country has seen a dramatic 690% increase in EV registrations in 2023, surpassing 75,000 vehicles, and this rise now represents 18.4% of all passenger car registrations in early 2024, up from 11.6% in 2023. Ttb analytics highlights that the rapid adoption of EVs is driven by their significantly lower fuel costs—about 59% to 67% less than traditional ICE or hybrid engines—demonstrating a strong preference among Thai commuters for electric options.

Bolt's Green category was introduced as part of our ongoing efforts to reduce the environmental footprint of urban transportation. The category has been embraced by both drivers and passengers, who are increasingly choosing EVs for their rides. This adoption aligns with Bolt's broader vision of building better cities by offering electric, efficient, and affordable mobility solutions.

Bolt remains committed to expanding the electric/hybrid vehicle category and enhancing the infrastructure that supports zero-emission urban transport. The company is excited to continue its journey towards a zero-emission future, contributing to cleaner cities and supporting the driver community.