Helbiz Expands Fleets Across North America Without Raising Costs, Nearing Profitability

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Helbiz Expands Fleets Across North America Without Raising Costs, Nearing Profitability

PRESS RELEASE: Paid content from Business Wire

Press release content from Business Wire. The AP news staff was not involved in its creation.

January 10, 2023 GMT

Helbiz is a global leader in micro-mobility services. Launched in 2015 and headquartered in New York City, the company offers a diverse fleet of vehicles including e-scooters, e-bicycles, e-mopeds all on one convenient, user-friendly platform with over 65 licenses in cities around the world. The merger with Wheels, a leading player in California, adds an unique sit-down scooter along with long term rental subscriptions for individuals, businesses and universities. Helbiz uses a customized, proprietary fleet management technology, artificial intelligence and environmental mapping to optimize operations and business sustainability. (Graphic: Business Wire)

NEW YORK--(BUSINESS WIRE)--Jan 10, 2023--

Helbiz (NASDAQ:HLBZ), a leading provider of shared micro-mobility solutions, today announced it has completed significant expansions of its fleet in multiple cities across North America, including Austin, Honolulu, and Orlando. The move is aimed at reaching and providing the company’s electric micro-mobility services to a wider audience of customers, increasing the company’s market share in each city, and advancing towards achieving operating profitability in each market.

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In Austin, the company has increased its fleet size by 63% in the past two weeks, making it easier for residents and visitors alike to access the city’s many attractions. In Honolulu, the fleet size was increased by 26% in the past week, providing more options for travelers and residents to explore the island. And in Orlando, the fleet size has increased by over 65% in the last month, making it more convenient for residents and visitors to enjoy the city’s various points of interest.

“We are excited to expand our fleet in these cities and offer our customers a wider availability of vehicles for their intra-urban travels,” said Sam Ehsani, Helbiz’s Head of Operations for North America. “Our objective has always been to make it easier for people to get around their cities while enjoying the benefits of sustainable transportation. By increasing the number of vehicles available in each city, we are confident that we will be able to serve a wider range of customers, increasing our market share in each market, and be one step closer to achieving profitability in the near future.”

The company announced that the fleet expansion will not result in an increase in operational costs, which is a major achievement as it further improves the company’s financial performance and sustainability.

Helbiz is committed to providing a reliable, affordable, and sustainable transportation option for its customers. With the fleet expansion in Austin, Honolulu and Orlando, the company is well-positioned to meet the growing demand for micro-mobility services in these cities and beyond.

About Helbiz

View source version on businesswire.com:https://www.businesswire.com/news/home/20230110005644/en/

CONTACT: Helbiz Contacts

For media inquiries:

press@helbiz.com

For investor inquiries:

The Blueshirt Group

Gary Dvorchak, CFA

gary@blueshirtgroup.com| +1 (323) 240-5796

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: TECHNOLOGY TRANSPORT OTHER TECHNOLOGY TRANSPORTATION TRAVEL OTHER TRANSPORT

SOURCE: Helbiz

PUB: 01/10/2023 09:00 AM/DISC: 01/10/2023 09:02 AM

http://www.businesswire.com/news/home/20230110005644/en