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Bolt unveils ‘Family Profile’ to boost ride-sharing flexibility and safety in Ghana

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1 week ago

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Ride-hailing giant Bolt has launched a new feature known as “Family Profile” in Ghana, allowing users to manage and pay for rides for up to nine other people from a single account. The innovation, designed to improve convenience, safety, and financial oversight, is part of Bolt’s ongoing commitment to enhancing everyday mobility solutions for Ghanaians.

According to Bolt, the feature responds to user behaviour, with between 2–6% of all rides currently ordered on behalf of someone else. 

Family Profile streamlines this process by enabling users to invite others to join their profile, set monthly spending limits, and receive real-time trip notifications. Members who use the Bolt app can independently request rides, while the account holder maintains full oversight.

“At Bolt, our goal is to create ride-hailing solutions that align with the everyday mobility needs of our customers,” said Caroline Wanjihia, Director, Rides Africa and Rest of World, Bolt.

“The launch of the Family Profile feature marks a significant step in empowering our customers to provide safe, seamless, and convenient transportation for their loved ones. By combining control, transparency, and flexibility in one feature, we’re proud to bring greater value and peace of mind to households across Ghana.”

While designed to accommodate families and support networks, Bolt stressed that the feature does not override the platform’s existing eligibility rules. Each added rider must have a Bolt account and be at least 18 years old. The company said these age restrictions are essential to uphold legal and safety standards, meaning the feature cannot be used to book rides for unaccompanied minors.

The feature is expected to be especially beneficial for parents, caregivers, and those supporting elderly relatives who may not be comfortable using smartphones or ride-hailing apps themselves. Bolt says the move could help remove practical barriers for older users, among whom ride-hailing usage is growing but adoption remains limited due to app complexity and payment issues.

In addition to offering more convenience, the Family Profile introduces enhanced safety and financial control features. Account holders can monitor each member’s ride activity, receive live alerts when rides start or end, and intervene when necessary—for example, by checking a ride’s route or contacting a rider or driver in case of delays or unexpected stops.

Family Profile joins a growing suite of safety tools on the Bolt app, including trip verification codes, real-time ride sharing, an emergency assistance button, and 24/7 monitoring by Bolt’s Safety Team.

Bolt engineers have also been working on technical upgrades to improve app performance in routing, mapping, and usability, underscoring the company’s effort to position itself as Ghana’s most user-friendly and secure ride-hailing service.

The feature is now available to all Bolt users in Ghana through the latest version of the app.





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BluSmart follows Gensol group firms into insolvency after ₹1.28 cr default

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13 hours ago

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July 29, 2025

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The wheels have come off the fraud-hit BluSmart Mobility, once hailed as a pioneer in India’s electric ride-hailing startup, as the company has been formally admitted into insolvency by the National Company Law Tribunal (NCLT) in Ahmedabad.

The move follows payment defaults totalling over ₹1.28 crore and adds BluSmart to a growing list of Gensol-linked entities now undergoing bankruptcy proceedings, including its parent Gensol Engineering Ltd and sister concern Gensol EV Leasing Pvt Ltd.

In an order dated 28 July, a two-member bench comprising Justice Shammi Khan (Judicial Member) and Sanjeev Sharma (Technical Member) admitted BluSmart into the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), 2016.

Also Read | NCLAT declines relief to Gensol entities on asset freeze, asks BluSmart and Matrix to approach NCLT

“In light of the above findings, this Tribunal is satisfied that the Financial Creditor is entitled to the relief as sought. The Corporate Debtor’s default justifies the admission of the petition and the initiation of CIRP under the Code,” the tribunal said in its order, reviewed by Mint.

The dispute with the financial creditor began after BluSmart Mobility raised ₹15 crore through 15 non-convertible debentures (NCDs) on 20 April 2023, with Catalyst Trusteeship as the debenture trustee.

Under the agreement, BluSmart was to start repaying the principal by 30 April 2023, but unilaterally deferred it to 31 May, which Catalyst viewed as a breach. In early 2025, BluSmart defaulted on payments due in February, March, and April—totalling ₹1.28 crore, prompting Catalyst Trusteeship to seek insolvency proceedings against the company.

Supporting documents included default notices, bank records, and an email from co-founder Anmol Singh Jaggi admitting liability that led to the admission of insolvency plea.

Also Read | Resolution plans must disclose dubious pre-bankruptcy transactions, says IBBI

BluSmart opposed the insolvency plea, arguing that the defaults were temporary, the petition was premature and motivated and that procedural issues such as missing IRP details and vague timelines weakened the creditor’s case.

The company also pointed to the 15 April Securities and Exchange Board of India (Sebi) order against Gensol Engineering and its promoters as background pressure behind the filing.

However, the tribunal rejected all objections, holding that the defaults were material and proven, the promoter had admitted liability, and procedural gaps had been corrected.

It also stated that the Sebi order had no bearing on BluSmart’s contractual obligations to repay its lenders.

The tribunal appointed NPV Insolvency Professionals Pvt Ltd as the Interim Resolution Professional (IRP), which will now take control of BluSmart’s management, issue public notices and invite claims from creditors.

A moratorium has also been imposed, halting all ongoing or new legal actions, asset transfers and recovery proceedings against the company.

Under IBC timelines, the IRP must invite claims within three days and constitute a Committee of Creditors (CoC) within 30 days.

The entire resolution process must be completed in 180 days, extendable by another 90 days. If no viable resolution plan is approved within that time, BluSmart may face liquidation.

With BluSmart joining Gensol Engineering and Gensol EV Leasing in insolvency, legal experts believe the case may become a landmark test for group insolvency in India—a concept not yet formally codified in law.

Also Read | Borosil Renewables German arm files for insolvency

Courts have, however, allowed consolidated proceedings in rare cases like Videocon, where 13 related companies were treated as a single economic entity.

“This could set the stage for group insolvency. If operational and financial links between these firms are clearly established, it may prompt courts to adopt a similar approach,” said Raheel Patel, partner at Gandhi Law Associates.

“The real challenge ahead is determining whether their assets and debts should be resolved jointly or separately, and whether overlapping creditors and related-party transactions will be prioritized for scrutiny,” Sonam Chandwani, managing partner at KS Legal & Associates, said.

When BluSmart defaulted and suspended operations, those same vehicles used as collateral for Gensol loans became value at risk. Power Finance Corporation Ltd and the Indian Renewable Energy Development Agency Ltd (Ireda) were thus exposed to defaults arising from both entities, effectively making them overlapping creditors, she added.

Parth Contractor, founder, Chambers of Parth Contractor, said, “When one entity has a financial crunch, its ripple effects are noticed in sister concerns or associated entities. But the decision to admit a company into insolvency, does not depend on the position of the sister concerns or the group company, but solely on the transaction/issue between the specific debtor and the specific creditor, which in this case was BluSmart and Catalyst Trusteeship”.

BluSmart’s insolvency is the latest and perhaps the most visible blow to the Gensol Group, which has been under intense regulatory scrutiny.

In June, Ireda revealed that Gensol Engineering had defaulted on loans worth ₹510 crore.

On 15 April, the Sebi issued an interim order accusing Anmol and Puneet Jaggi of diverting investor funds meant for electric vehicle purchases towards personal luxuries, including a $5 million apartment and high-end golf equipment.

Sebi also found that Gensol had procured only 4,704 electric vehicles despite claiming funding for 6,400.

Both promoters resigned from Gensol’s board on 6 May. The Securities Appellate Tribunal (SAT), on 7 May, declined to stay Sebi’s order and asked the company to respond, with the market regulator expected to issue a final decision thereafter.

Meanwhile, Gensol Engineering, now also under CIRP, has issued advertisements seeking to lease out pre-owned EVs at fixed rentals, in what appears to be an effort to monetize stranded assets amid the group’s widening financial crisis.



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Saudi Arabia Ride Hailing Market Size to Hit USD 5.5 Billion by 2033 | CAGR of 12.90%

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14 hours ago

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July 29, 2025

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Industry Overview

The ride-hailing market in Saudi Arabia has witnessed remarkable expansion, fundamentally changing how people commute and interact with transportation services. Gone are the days of relying solely on traditional taxis; smartphone applications have ushered in an era of convenience, transparency, and efficiency. Major international players like Uber and regional giants such as Careem have established strong footholds, alongside a growing number of local apps, collectively contributing to a competitive and innovative ecosystem. The sector is characterized by its adaptability, leveraging high smartphone penetration and a tech-savvy population to deliver on-demand transport solutions.

Market Size & Growth

The Saudi Arabia ride hailing market size reached USD 1.6 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 5.5 Billion by 2033, exhibiting a robust compound annual growth rate (CAGR) of 12.90% during 2025-2033. This substantial growth underscores the strong demand for convenient and efficient transportation solutions across the Kingdom.

Get Your Free “Saudi Arabia Ride Hailing Market” Sample PDF Report Now!

Key Trends in the Saudi Arabia Ride Hailing Market

Several key trends are shaping the trajectory of the Saudi Arabian ride-hailing market:

  • Digitalization and Smartphone Penetration: Saudi Arabia boasts one of the highest smartphone penetration rates in the Middle East, creating a fertile ground for digital-first transportation solutions. The ease of booking rides with a few taps on a smartphone, coupled with widespread 4G and expanding 5G coverage, ensures seamless access to ride-hailing services. This digital fluency, especially among the young, tech-savvy population, is a primary driver of adoption.
  • Government Support and Vision 2030: The Kingdom’s ambitious Vision 2030 has significantly bolstered the ride-hailing sector. This national roadmap emphasizes economic diversification, digital infrastructure development, and smart city initiatives, all of which indirectly and directly support tech-driven mobility solutions. Policies promoting easier licensing for drivers and a focus on cashless transactions (aligned with Vision 2030’s goal of 70% non-cash transactions) further contribute to market expansion.
  • Growing Female Participation: The lifting of the ban on women driving in 2018 has had a transformative impact on the ride-hailing industry. It has not only expanded the potential driver pool but also led to the rise of female drivers (often referred to as “Captainahs” by Careem), providing tailored services that cater to cultural preferences and enhance safety and comfort for female passengers.
  • Shift Towards Sustainable Fleets: Environmental awareness is increasingly influencing the market. Ride-hailing companies are beginning to explore and integrate electric vehicles (EVs) and hybrid cars into their fleets. This trend aligns with Saudi Arabia’s sustainability goals under Vision 2030, which aims to reduce carbon emissions and targets 1-2 million EVs on the road by 2030.
  • Diversification of Services: Beyond basic ride services, companies are expanding their offerings to include a wider range of mobility solutions. This includes intercity transport, luxury vehicle options, and even integration with other digital services like food and parcel delivery (e.g., Careem’s expansion into Careem Food and Careem Pay). This diversification enhances customer retention and opens new revenue streams.
  • Focus on Safety and Convenience: Continuous improvements in safety features, such as real-time tracking, in-app emergency buttons, and driver verification processes, are crucial for building user trust. The convenience of cashless payments and the ability to track rides in real-time further enhance the user experience.

Get Instant Access to the Full Report with a Special Discount!

Growth Drivers

The robust growth of the Saudi Arabia ride-hailing market is propelled by several key factors:

  • Rapid Urbanization and Population Growth: Major cities like Riyadh, Jeddah, and Dammam are experiencing significant urban expansion and population influx, leading to increased demand for efficient and flexible transportation options. Traditional public transport systems are still developing in many areas, creating a substantial gap that ride-hailing services are effectively filling.
  • High Disposable Incomes: The improving economic prosperity and rising disposable incomes of Saudi citizens contribute to a greater willingness to spend on convenient and comfortable transport services.
  • Traffic Congestion and Parking Challenges: As urban centers grow, so does traffic congestion and the difficulty of finding parking. Ride-hailing offers a practical solution, reducing the need for private vehicle ownership and alleviating pressure on urban infrastructure.
  • Tourism Development: Saudi Arabia’s burgeoning tourism sector, attracting millions of visitors annually, creates a significant demand for reliable and accessible transport. Ride-hailing services cater effectively to tourists and business travelers seeking hassle-free movement within cities and, increasingly, between them.
  • Youth Demographics: A large segment of the Saudi population is young and digitally native, exhibiting a strong preference for app-based services and on-demand solutions. This demographic is quick to adopt and integrate ride-hailing into their daily routines.
  • Strategic Partnerships and Investments: Collaborations between ride-hailing platforms and local entities, including traditional taxi operators and government bodies, are enhancing fleet availability and expanding service coverage. Significant investments in infrastructure, including smart city initiatives, further support the market’s growth.

AI Impact on Saudi Arabia Ride Hailing Market

Artificial intelligence (AI) is set to revolutionize the Saudi Arabian ride-hailing market, enhancing efficiency, safety, and user experience across various facets:

  • Optimized Route Planning and Traffic Management: AI algorithms can analyze vast amounts of real-time data, including traffic conditions, weather, and historical patterns, to determine the most efficient routes. This not only reduces travel time and fuel consumption but also helps alleviate urban congestion in cities like Riyadh and Jeddah. AI-powered traffic management systems can dynamically adjust traffic signals and manage lane usage for smoother flow.
  • Dynamic Pricing and Demand Prediction: AI enables ride-hailing platforms to implement dynamic pricing models that adjust fares based on real-time supply and demand. This helps balance the market, incentivizing drivers during peak hours and ensuring availability for passengers. AI can also predict demand patterns, allowing companies to pre-position drivers in high-demand areas.
  • Personalized User Experience: AI can personalize the ride-hailing experience by learning user preferences, suggesting preferred routes, vehicle types, or even drivers. This enhances customer satisfaction and loyalty.
  • Enhanced Safety and Security: AI can be used for driver and passenger authentication, monitoring driving behavior to ensure safety, and detecting unusual patterns that might indicate a risk. AI-powered analytics can identify and flag suspicious activities, contributing to a more secure environment.
  • Autonomous Vehicles Integration: While still in its early stages, Saudi Arabia’s vision for smart cities, such as NEOM, includes the deployment of autonomous vehicles. AI is the backbone of self-driving technology, and its advancement will eventually lead to AI-powered autonomous ride-hailing fleets, promising even greater efficiency and potentially lower costs in the long term.
  • Predictive Maintenance: AI can analyze vehicle data to predict maintenance needs, allowing for proactive servicing and reducing vehicle downtime, thus ensuring a more reliable fleet.

Segment Analysis

The Saudi Arabia ride-hailing market can be analyzed across various segments, providing a granular understanding of its dynamics:

Vehicle Type:

  • Passenger Car: This segment currently dominates the market, largely driven by the preference for comfortable and private transport. It includes various categories like economy, premium, and SUV options to cater to diverse consumer needs.
  • Two-Wheeler/Three-Wheeler: While less prevalent than in some other global markets, this segment is emerging, particularly for quick, short-distance trips and potentially for delivery services.
  • Others: This category might include specialized vehicles like those adapted for individuals with disabilities, or potentially future mobility solutions like electric vertical takeoff and landing (eVTOL) aircraft, which Saudi Arabia is exploring for major cities.

Booking Type:

Online Booking: This is the overwhelming majority of bookings, facilitated by widespread smartphone and internet usage. Users prefer the convenience, real-time tracking, and cashless payment options offered by mobile applications.

Offline Booking: While significantly smaller, this segment still exists, particularly in less digitally integrated areas or for those who prefer traditional methods. However, its share is rapidly diminishing.

End-Use:

  • Personal Use: The largest segment, encompassing daily commutes, social outings, and general personal travel. The convenience and affordability of ride-hailing make it a popular choice for individual users.
  • Commercial Use: This segment includes corporate travel, employee transportation, and services utilized by businesses for logistics or client transport. As businesses prioritize efficiency, commercial ride-hailing is gaining traction.

Regional Analysis

The growth of the ride-hailing market in Saudi Arabia is not uniform across all regions, with certain urban centers leading the charge:

  • Riyadh (Northern and Central Region): As the capital city and the largest urban center, Riyadh accounts for the highest share of ride-hailing trips. It is a hub for business, government, and a rapidly growing population, leading to consistently high demand for on-demand transport. The city’s extensive infrastructure projects and smart city initiatives further bolster the market.
  • Makkah (Western Region): This region, particularly Makkah and Jeddah, witnesses significant demand driven by religious tourism (Hajj and Umrah) and general tourism. The need for efficient transport for pilgrims and visitors makes ride-hailing services highly popular. Jeddah, as a major commercial and port city, also contributes substantially.
  • Eastern Province: Dammam and Khobar are key cities in the Eastern Province, characterized by industrial activities and a sizable expat population. This region exhibits strong demand for ride-hailing, especially for commuting and personal travel.
  • Other Regions (Southern, Tabuk, Qassim, Hail, Jazan, Najran, Al-Jouf, Northern Borders, Al-Baha): While smaller in market share compared to the major metropolitan areas, these regions are also experiencing increasing adoption of ride-hailing services as digital infrastructure improves and urbanization spreads. Government initiatives to develop these regions further promise future growth.

Future Opportunities

The Saudi Arabia ride-hailing market is ripe with future opportunities:

  • Expansion into Underserved Areas: As digital connectivity improves across the Kingdom, there’s significant potential for ride-hailing companies to expand their services into smaller cities and less densely populated areas.
  • Integration with Public Transport: Seamless integration with existing and developing public transportation networks (e.g., the Riyadh Metro) can create multi-modal transport solutions, enhancing convenience and reducing urban congestion. Apps could offer combined ticketing for buses, metros, and ride-hailing.
  • Autonomous Vehicle Pilot Projects: With Saudi Arabia’s strong push for smart cities, there’s a unique opportunity to pilot and deploy autonomous ride-hailing fleets in designated zones, setting a precedent for future urban mobility.
  • Premium and Niche Services: Demand for specialized services like luxury vehicles, family-friendly options, or even women-only services driven by female captains will continue to grow, catering to specific consumer segments.
  • Logistics and Last-Mile Delivery: Leveraging existing driver networks for last-mile delivery of goods, groceries, and parcels presents a significant growth avenue, diversifying revenue streams for ride-hailing companies.
  • Sustainable Mobility Solutions: As the Kingdom prioritizes sustainability, investment in and adoption of electric and hydrogen fuel cell vehicles within ride-hailing fleets will create significant opportunities for pioneering green mobility solutions.
  • Data Monetization and AI-driven Insights: The vast amounts of data generated by ride-hailing operations can be leveraged using AI to provide valuable insights for urban planning, traffic management, and even targeted advertising, creating new revenue models.

Recent Developments

The Saudi Arabian ride-hailing market has seen several notable developments recently, reflecting its dynamic nature:

  • Increased Number of Licensed Platforms: The Transport General Authority (TGA) has reported a significant increase in the number of licensed ride-hailing applications, indicating a healthy and expanding competitive landscape. By the end of the first nine months of 2024, there were approximately 45 licensed apps, a substantial jump from previous years.
  • Growing Trip Volume and Driver Earnings: The number of completed trips via ride-hailing apps continues to climb, with over 32 million trips recorded in Q2 2025 alone, marking a substantial year-on-year increase. This growth is also reflected in the earnings of Saudi drivers, with platforms paying out significant sums, attracting more individuals to the sector.
  • Strategic Partnerships: Companies are forging strategic alliances. For instance, in 2025, Uber reportedly deepened its footprint in Saudi Arabia by partnering with a global digital advertising enabler, aiming to enhance in-app ad placements and localized outreach.
  • Exploration of Advanced Air Mobility (AAM): Saudi Arabia has entered discussions with companies like Archer Aviation regarding the potential deployment of electric vertical takeoff and landing (eVTOL) aircraft in major cities, signaling a long-term vision for advanced urban mobility.
  • Regulatory Enhancements: The TGA continues to implement regulations aimed at improving service quality and boosting investments, such as mandatory subscription to systems for inter-city rides and clearer guidelines for trip destinations, ensuring a more structured and efficient market.

Conclusion

The Saudi Arabia ride-hailing market is a vibrant and rapidly expanding sector, deeply integrated with the nation’s ambitious development agenda. Driven by urbanization, a digitally fluent population, supportive government policies under Vision 2030, and the transformative power of AI, the market is poised for sustained and significant growth. With increasing competition, diversification of services, and a growing emphasis on sustainability and advanced technologies, the ride-hailing industry is not merely a mode of transport but a cornerstone of Saudi Arabia’s evolving smart mobility ecosystem.

FAQs

1. What are the primary factors driving the growth of the ride-hailing market in Saudi Arabia?

The primary factors include rapid urbanization and population growth in major cities, high smartphone penetration and digital literacy among the youth, supportive government initiatives under Vision 2030, the lifting of the ban on women driving, increasing traffic congestion, and a booming tourism sector.

2. How is Artificial Intelligence (AI) impacting the ride-hailing industry in Saudi Arabia?

AI is revolutionizing the industry by optimizing route planning, enabling dynamic pricing, enhancing safety features through monitoring and authentication, personalizing user experiences, and laying the groundwork for the future integration of autonomous vehicles.

3. What are the key segments within the Saudi Arabia ride-hailing market?

The market is typically segmented by vehicle type (primarily passenger cars, with emerging two/three-wheelers and specialized vehicles), booking type (dominated by online bookings), and end-use (predominantly personal use, with a growing commercial segment).



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Avis Budget Group Partners with Waymo to Launch Autonomous Ride-Hailing Service in Dallas

Published

14 hours ago

on

July 29, 2025

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PARSIPPANY, N.J., July 29, 2025 (GLOBE NEWSWIRE) — Avis Budget Group, Inc.

(NASDAQ: CAR)

, a leading global provider of mobility solutions, today announced a multi-year strategic partnership with Waymo, the leader in self-driving technology, to launch and scale a fully autonomous ride-hailing service in Dallas.

Through this agreement, Avis Budget Group will serve as Waymo’s fleet operations partner in Dallas, delivering end-to-end services including infrastructure, vehicle readiness, maintenance, and depot operations. Waymo will offer its ride-hailing service directly to the public via the Waymo app, while maintaining responsibility for validation and performance of the Waymo Driver. Initial testing is already underway in Dallas with the public launch slated for 2026.

For over 75 years, Avis has been a leader in the rental car industry. This new strategic partnership reflects an ambition to grow beyond travel and actively shape the future of mobility. It demonstrates Avis’s ability to monetize its core strengths in large scale fleet management within a high-growth category at the forefront of technology. Avis is establishing its place as a strong partner to support and scale the operational backbone of autonomous vehicle networks.

Brian Choi, Chief Executive Officer of Avis Budget Group, Inc. said, “Our partnership with Waymo marks a pivotal milestone in our evolution, from a rental car company to a leading provider of fleet management, infrastructure and operations to the broader mobility ecosystem. Together, we’re committed to making scaled autonomous mobility a reality for the people of Dallas, with plans to expand to additional cities in the near future.”

Tekedra Mawakana, co-CEO, Waymo, said, “We look forward to bringing our fully autonomous ride-hailing service to the people of Dallas next year, offering a new era of safe and seamless transportation. Working together with our fleet partner Avis, Waymo will offer more riders a stress-free way to get around.”

Waymo and Avis are proud to usher in a new era of urban transportation to the people of Dallas. We look forward to this initial phase of our partnership and intend on scaling autonomous mobility to more cities together over time.


ABOUT AVIS BUDGET GROUP

We are a leading global provider of mobility solutions, both through our Avis and Budget brands, which have approximately 10,250 rental locations in approximately 180 countries around the world, and through our Zipcar brand, which is the world’s leading car sharing network. We operate most of our car rental locations in North America, Europe and Australasia directly, and operate primarily through licensees in other parts of the world. We are headquartered in Parsippany, N.J. More information is available at avisbudgetgroup.com.


FORWARD-LOOKING STATEMENTS


Certain statements in this press release constitute “forward-looking statements.” Any statements that refer to outlook, expectations or other characterizations of future events, circumstances, or results, including the partnership with Waymo discussed in this press release, are forward-looking statements. Various risks that could cause future results to differ from those expressed by the forward-looking statements included in this press release include, but are not limited to, risks related to the partnership with Waymo discussed in this press release, regulatory requirements and the other factors described in the “Risk Factors” and “Forward-Looking Statements” sections of Avis Budget Group’s Annual Report on Form 10-K for the year ended December 31, 2024 and Quarterly Report on Form 10-Q for the three months ended March 31, 2025. Accordingly, actual results, levels of activity, performance, achievements, and events could differ materially from those stated, anticipated or implied by such forward-looking statements. The Company undertakes no obligation to update any forward-looking statements to reflect subsequent events or circumstances.



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