Helbiz Waives Unlock Fees for All Washington, D.C. Residents

Rhea-AI Summary

Helbiz Inc. (NASDAQ: HLBZ) has announced it will temporarily waive its $1.00 e-scooter unlock fee in Washington D.C. to support residents amidst Metrorail service disruptions. This initiative will last until November 30, 2021, allowing users to rent e-scooters for $0.35 per minute via the Helbiz app. This move aims to provide reliable transportation alternatives for affected commuters. Helbiz emphasizes rider safety with dedicated operations on the ground and comprehensive safety information available through its app.

Positive

• Waiving the e-scooter unlock fee provides immediate financial relief for users affected by transit disruptions.
• The initiative enhances community relations and may increase usage of Helbiz's services in Washington D.C.
• Potential to attract new users to the Helbiz platform due to the temporary fee waiver.

Negative

• The decision to waive the fee could lead to short-term revenue loss for Helbiz.
• Potentially highlights dependency on local public transport reliability, affecting business performance during disruptions.

WASHINGTON--(BUSINESS WIRE)-- Helbiz Inc. (NASDAQ: HLBZ), a global leader in micro-mobility and the first in its industry to be publicly listed on Nasdaq, today announced it will waive its $1.00 e-scooter unlock fee to help alleviate the travel disruptions caused by reduced Metrorail service for riders throughout the Washington D.C. area until November 30, 2021. Users can download the Helbiz mobile app on iOS and Android to instantly geolocate and rent e-scooters for a $0.35 charge per minute of riding time.

Helbiz Waives Unlock Fees for All Washington, D.C. Residents (Photo: Business Wire)

“The Metro trains play an essential role in DC’s regional transportation infrastructure, especially for commuters,” said Vivian Myrtetus, Head of Partnerships & Policy at Helbiz. “In response to the service disruptions, Helbiz is waiving its e-scooter unlock fees to ensure those that are impacted have access to our micro-mobility devices as an alternative, reliable mode of transportation. We are proud to support the local Washington D.C. community during this time.”

Helbiz’s fleet of customized scooters offers users a safe, reliable ride. The company has a dedicated operations team on the ground and is committed to the well-being of its riders. Its app is equipped with rider safety information, such as instructions for use, how to conduct a safety check, and properly lock scooters.

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 and e-mopeds all on one convenient, user-friendly platform in 35 cities around the world. Helbiz utilizes a customized, proprietary fleet management technology, artificial intelligence and environmental mapping to optimize operations and business sustainability. Helbiz is expanding its urban lifestyle products and services to include live streaming services, food delivery, financial services and more, all accessible within its mobile app. For additional information, please visit www.helbiz.com.

Forward-Looking Statements

Certain statements made in this press release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, actual results may differ materially from the Company’s expectations or projections. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: (i) the failure to meet projected development and production targets; (ii) changes in applicable laws or regulations;(iii) the effect of the COVID-19 pandemic on the Company and its current or intended markets; and (iv) other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission (the “SEC”) by the Company. Additional information concerning these and other factors that may impact the Company’s expectations and projections can be found in its periodic filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and amended on May 21, 2021 the Form 10-Q filed on August 23, 2021 and the Prospectus filed on September 30, 2021. The Company’s SEC filings are available publicly on the SEC's website at www.sec.gov. Any forward-looking statement made by us in this press release is based only on information currently available to Helbiz and speaks only as of the date on which it is made. Helbiz undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211025005725/en/

Helbiz Contacts

For investor and media inquiries, contact: https://www.helbiz.com/pressroom

Global Head of Communications: +1 ‎(917) 675-7157

Davide D’Amico - email: davide.damico@helbiz.com

PR and Communication Manager:

Chiara Garbuglia - email: chiara.garbuglia@helbiz.com

USA

Agent of Change

Marcy Simon - Phone: +1 (917) 833-3392 - email: marcy@agentofchange.com

The Blueshirt Group

Gary Dvorchak, CFA - Phone: +1 (323) 240-5796 - email: gary@blueshirtgroup.com

Source: Helbiz Inc.

FAQ

What is Helbiz doing to support commuters in Washington D.C.?

Helbiz is waiving the $1.00 unlock fee for e-scooters until November 30, 2021, to help commuters affected by Metrorail service disruptions.

How much does it cost to rent an e-scooter from Helbiz?

Users can rent e-scooters from Helbiz for $0.35 per minute after the unlock fee is waived.

When will the e-scooter unlock fee waiver end for Washington D.C. residents?

The waiver of the e-scooter unlock fee will end on November 30, 2021.

How is Helbiz ensuring rider safety?

Helbiz has a dedicated operations team and provides rider safety information through its mobile app.

What is the stock symbol for Helbiz?

The stock symbol for Helbiz is HLBZ, traded on NASDAQ.