The ride-hailing firm will introduce two Dongfeng electric models in Cape Town amid rising fuel costs and infrastructure challenges.
Bolt Technology has partnered with Chinese automaker Dongfeng Motor to deploy an electric vehicle fleet in South Africa, starting in Cape Town. The fleet will be managed by Yugo Rides and include the Dongfeng Box hatchback and the 007 model, targeting cost savings for drivers amid higher fuel prices linked to geopolitical tensions.
Bolt, which holds over 50% of South Africa’s ride-hailing market, has invested $180m in the country and ranks it among its top ten global markets. The company cited charging infrastructure limitations as a key challenge, opting for a phased rollout. South Africa remains a strategic focus for Bolt, which operates in more than 50 countries.
The company was valued at €7.4bn after raising €628m in a 2022 funding round. Rising fuel costs have increased the appeal of EVs, potentially improving driver earnings through lower charging expenses.