Bolt Ventures Into Car Hire Business in Kenya

On-demand ride-hailing service Bolt is gearing up to introduce a car hire service dubbed Bolt Drive in Kenya.

It would enable users to conveniently hire vehicles close to them from a fleet company or private owner. Bolt Service would compete with the traditional car hire service in Kenya, which has for years been a booming business but is now likely to face the effects of digital disruption.

Bolt, however, remained tight-lipped on details of the service including its expected launch date, information on eligibility and more.

Prices will be determined based on selected car model, trip duration, distance driven and fuel prices.

The move to introduce car hire services is the latest in the diversification of Bolt’s revenue streams – a plan which has also seen it expand its delivery services in Kenya to over 16 towns and cities.

Bolt’s car hire service was first launched in the Estonian city of Tallinn, where the model features rates ranging from € 0.07 (Ksh9.03) per minute and €0.15 (Ksh19.35) per kilometre.

The firm had revealed a 20 Million Euro (Ksh2.58 billion) shilling investment to expand the service into Europe.

It remains to be seen how effectively the service will compete with the traditional car-hire model in Kenya which remains popular.

For a 24-hour period, it costs between Ksh2,500 to Ksh7,000 depending on the model although customers have to foot costs for fuel and other fees such as parking.

Bolt Drive, on the other hand, will see fuel prices factored into the trip charges.