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

Rhea-AI Summary

Helbiz (NASDAQ:HLBZ) has announced significant fleet expansions in Austin, Honolulu, and Orlando to enhance market share and work towards profitability. In Austin, the fleet increased by 63%, in Honolulu by 26%, and in Orlando by over 65%. Notably, this expansion won't incur additional operational costs, indicating an improvement in financial sustainability. Helbiz aims to offer a wider array of micro-mobility solutions while catering to the rising demand for sustainable transportation options.

Positive

• Fleet increased by 63% in Austin, 26% in Honolulu, and over 65% in Orlando.
• Expansion achieved without raising operational costs.
• Increased market share and near profitability anticipated.

Negative

• None.

Helbiz expands fleets in Austin, Honolulu and Orlando, without raising costs, with the objectives of boosting market share and nearing profitability

NEW YORK--(BUSINESS WIRE)-- 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.

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)

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

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.

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

Helbiz Contacts

For media inquiries:

press@helbiz.com

For investor inquiries:

The Blueshirt Group

Gary Dvorchak, CFA

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

Source: Helbiz

FAQ

What cities did Helbiz expand its fleet in?

Helbiz expanded its fleet in Austin, Honolulu, and Orlando.

How much did Helbiz increase its fleet size in Austin?

Helbiz increased its fleet size by 63% in Austin.

Did the fleet expansion by Helbiz result in increased operational costs?

No, the fleet expansion did not result in an increase in operational costs.

What is the goal of Helbiz's fleet expansion?

The goal is to boost market share and move closer to profitability.