Denmark’s Shift to EVs and Bolt’s Transition to an Integrated Mobility Company

Contents

Regulations and Support for Taxis and Ride-Sharing in Denmark

Taxi Business Act

Commercial passenger transportation in Denmark is regulated by the 2018 Taxi Services Act (Taxiloven). This law replaces the Taxi Transport Act (Lov om taxikørsel) enacted in 2013. Previously, taxi licenses were issued and restricted by individual municipalities, and license holders were required to be members of a local dispatch center. Additionally, criteria such as residency requirements, financial credibility, and operational competence were established for obtaining a license.

With the 2018 amendments, the previous system of allocating taxi quotas by municipality was abolished, and new technical requirements were introduced. In addition, the taxi market was clearly restructured, and a system was established that allows the national government and local governments to monitor it.

Source: Compiled by AAKEL Inc. based on the Retsinformation database

Agreement on the Green Transition of Road Transport / Motor Vehicle Registration Tax Act

Subsequently, in 2020, the national climate strategy known as the “Agreement on the Green Transition of Road Transport” (Grøn vejtransportaftale) was formulated. This strategy creates an economic environment that promotes the transition to electric vehicles by providing support for EVs in general, including not only taxis but also ride-sharing services.

Goals

• 1 million green vehicles by 2030

• Reduce CO2 emissions by 2.1 million metric tons by 2030

• Incentives

• Secure a budget of 2.5 billion Danish kroner

Source: Compiled by AAKEL Inc. based on the Retsinformation database

2026 Budget Proposal

The Fiscal Year 2026 Budget Proposal (Finansloven 2026) not only provides support for EV adoption and secures funding but also helps reduce EV operating costs by lowering the electricity tax. This creates an economic environment that makes it easier for commercial vehicles, including taxis, to transition to EVs.

Source: Compiled by AAKEL Inc. based on the Retsinformation database

Source: Compiled by AAKEL Inc. based on data from Statistics Denmark’s database

In Denmark, the number of electric vehicles (EVs) is steadily increasing, driven by various policies and support measures. The number of EVs in operation has grown from 7,137 in 2020 to 66,147 in 2025, a nearly ninefold increase over five years. Furthermore, the share of electric vehicles in the total passenger car market has risen from 3.94% to 34.81%. These changes in the EV landscape within the passenger car market are also laying the groundwork for the transition to EVs among commercial vehicles, including taxis.

For more details on Denmark’s EV regulations and incentives, please refer to our previous blog posts (“Denmark’s Latest EV Shift: How Tax Incentives and Infrastructure Are Powering Electric Buses”).

EV Ridesharing in Denmark: Bolt

Founded in Tallinn, Estonia, in 2013, Taxify rebranded as Bolt in 2019 and is now working toward the full electrification of mobility in general—not limited to taxis. Along with expanding outside Europe, Bolt is also growing its business into areas such as electric kick scooter sharing and food delivery.

In March 2025, Bolt acquired the Danish EV taxi company Viggo, entering the Danish paid ride-hailing market. Viggo is Scandinavia’s first 100% electric paid ride-hailing service, operating over 300 EVs and serving 450,000 users in Copenhagen and Aarhus.

Additionally, on the same day, Bolt announced a partnership with Taxi 4×27. Through this partnership, Bolt added over 600 vehicles to its platform, significantly expanding its fleet in the Copenhagen market.

Image source: Bolt official website

A Challenge That Began in a Small Capital City

Founded in Tallinn, Estonia, in February 2013 (renamed Bolt in 2019), Taxify began as a small team of just a few people driven by the idea of “creating a more affordable and user-friendly ride-hailing service.” Initially a small service partnering with local taxi companies, it expanded its reach throughout Estonia the following year, 2014, and quickly expanded into neighboring Latvia. By venturing into international markets just over a year after its founding, the company had already mapped out a growth strategy focused on the global market from the very beginning.

Expansion into Africa

That momentum extended beyond Europe. In 2016, the company rapidly expanded into African markets—including South Africa, Kenya, Nigeria, Uganda, Tanzania, and Ghana—to capture mobility demand in emerging economies. Then, in 2017, the company expanded its operations to 20 countries, primarily across Europe, Africa, and the Middle East. Amid fierce competition among giants in the ride-hailing industry, Bolt strengthened its presence through unique regional strategies.

Rebranding and Business Diversification

What sets Bolt apart is that it didn’t stop at being just a “paid ride-hailing company.” In 2018, it launched an electric kick scooter sharing service in Tallinn, Estonia, entering the new market of short-distance urban travel. Furthermore, in 2019, the company changed its name from Taxify to Bolt, evolving its brand to encompass mobility as a whole. That same year, it also launched a food delivery service in Tallinn, later expanding into the Baltic states and South Africa. It evolved into a platform that transports not only people but also “goods.”

Turning Crisis into an Opportunity for Growth

In 2020, the spread of the novel coronavirus dealt a major blow to Bolt. Demand for paid ride-hailing services plummeted, and revenue temporarily dropped by as much as 85%. However, while many companies resorted to large-scale layoffs, Bolt decided to avoid them. Instead, it rapidly expanded its food delivery business to 16 countries, transforming its business portfolio to adapt to shifting demand. This flexible management decision became a major driving force in overcoming the crisis.

Offering Multiple Services in a Single App

Having weathered the COVID-19 pandemic, Bolt launched “Bolt Drive,” a free-floating car-sharing service, in Tallinn in May 2021. This made Bolt the first company in Europe to offer three modes of transportation—ride-hailing, micromobility, and car-sharing—all within a single app. Furthermore, in December of the same year, the company deployed 130,000 electric scooters and electric motorcycles across more than 45 cities in 15 European countries, growing into Europe’s largest micromobility operator. By 2022, it had expanded its footprint to over 400 cities in more than 45 countries across Europe and Africa, with its user base surpassing 100 million.

A Full-Scale Shift Toward Sustainability

As it continued to grow, Bolt turned its attention to environmental sustainability. In 2023, the company introduced EV-exclusive ride categories—such as “Green,” “Electric,” and “Tesla”—in over 70 cities across Europe and Africa. Users can now select EV rides within the app, creating a system that empowers them to actively support the decarbonization of mobility.

A New Strategic Move: M&A

Then, in March 2025, Bolt completed its first-ever M&A transaction since its founding, acquiring the Danish EV taxi company “Viggo.” At the same time, it partnered with the local taxi company “Taxi 4×27,” marking its full-scale entry into Denmark’s paid ride-hailing market. The company has grown into one of the world’s leading mobility companies, offering not only paid ride-hailing services but also micromobility, carsharing, food delivery, and EV mobility—all on a single platform.

Image source: Bolt official website

The Challenge of Robo-Taxis

Bolt, which has integrated all modes of transportation—including ride-hailing, food delivery, micromobility, and car-sharing—into a single app, is now setting its sights on “robo-taxis.” The company aims to achieve an ambitious position as “the only independent ride-hailing company in Europe driving the scaling up of autonomous vehicles.”
In November 2025, Bolt announced a partnership with Pony.ai, a Chinese autonomous driving technology company. This collaboration with a company possessing the technological expertise to serve as the “brain” of autonomous driving marked Bolt’s first step toward a full-scale entry into the autonomous driving business.
One month later, in December 2025, Bolt entered into a strategic partnership with Stellantis, a major European automaker that owns brands such as Fiat, Peugeot, and Opel. The goal is the development and commercial deployment of Level 4 autonomous vehicles. By bringing together three companies with distinct strengths—pony.ai (technology), Stellantis (vehicle manufacturing), and Bolt (ride-hailing platform)—the companies are establishing a framework to bring autonomous vehicles to fruition.
Then, in June 2026, Bolt, Pony.ai, and Stellantis officially announced the launch of a “Living Lab”—a pilot program for autonomous vehicles—in Luxembourg. This pilot program will involve thorough testing from three perspectives—safety, performance, and regulatory compliance—with the goal of achieving fully driverless operation by the end of the program.
Bolt’s roadmap sets a goal of beginning mass production in 2029 and deploying 100,000 autonomous vehicles on the Bolt platform by 2035.
Going beyond the framework of a paid ride-hailing service, Bolt is taking on the challenge of “redefining mobility itself.”

Challenges and Solutions for the Transition to EVs at Bolt

• Challenge: Most drivers cannot charge their vehicles at home.

• Solution: Form partnerships with public charging operators (CPOs) to reduce the cost of public charging.
  Public charging operators (CPOs): Eleport, Electra, JB Charge, OK Q8, Shell, Repsol, EDP, etc.

An All-Electric Ride-Hailing Service: Viggo

A Startup Born with a Commitment to Sustainability

Founded in 2019 in Copenhagen, the capital of Denmark, Viggo has been guided from the very beginning by two clear concepts: “green transportation” and “a premium user experience.” While other ride-hailing companies were engaged in price wars, Viggo made what was, at the time, a bold decision to ensure that its entire fleet of over 300 vehicles consisted of EVs, entering the ride-hailing market with a positioning centered on “an environmentally conscious, high-quality mobility experience.”

Ride-Hailing Company Expands into Charging Infrastructure

In response to the challenge of “insufficient charging infrastructure” that became apparent through its EV operations, Viggo established a subsidiary, Viggo Energy, in 2021 and began developing public fast-charging hubs (300 kW) for urban areas. The company grew this initiative into a business that provides charging infrastructure to external parties to support their own EV operations.

Charging Network Accelerated Through Partnerships

In March 2024, Viggo Energy partnered with Monta, a Danish EV charging management software company. With Monta serving as a “backend provider” and supplying the software infrastructure, Viggo Energy laid the groundwork for the international expansion of its ultra-fast charging business. Then, in July of the same year, the company announced a partnership with TDC NET, Denmark’s largest telecommunications company. By leveraging TDC NET’s vast network of over 5,000 properties and sites, the company plans to roll out ultra-fast charging stations in phases—from urban areas to the suburbs—expanding its charging infrastructure through collaboration with telecommunications infrastructure companies.

The Evolution to “Stella” and the Challenge of Crossing Borders

In October 2024, Viggo Energy rebranded itself as “Stella.” This was more than just a rebranding; the company is now expanding internationally, building on the expertise in fast-charging infrastructure it has cultivated in Denmark.

Image source: Viggo Press Release

Joining the Bolt Group

In March 2025, Bolt completed its acquisition of Viggo, marking a major turning point for Viggo, which had been steadily solidifying its business foundation. This was Bolt’s first-ever merger and acquisition. As a pioneer in green mobility, Viggo had grown to operate two business segments—a paid ride-hailing service and charging infrastructure—making this acquisition a significant step for Bolt as it expanded its foothold in the Danish market and the EV infrastructure sector.

A long-established taxi company with a history of nearly 100 years: Taxi 4×27

A Long-Established Danish Taxi Company

Taxi 4×27 was founded in 1927 in Kastrup, Denmark. Taxi 4×27 has extensively expanded its taxi services across major Danish cities. In contrast to emerging EV startups like Viggo, Taxi 4×27’s greatest assets are its “history” and “track record,” as well as its network of numerous licensed taxis and drivers. This established foundation holds significant importance for Bolt.

Partnership Signed on the Same Day as the Viggo Acquisition

In March 2025, on the same day Bolt “acquired” Viggo, it also announced a “partnership” with Taxi 4×27. Through the acquisition of Viggo, Bolt gained access to high-quality, primarily EV-based vehicles and operational know-how. Meanwhile, the partnership with Taxi 4×27 enabled Bolt to integrate a large number of already-licensed taxi vehicles into its own platform.

These two measures were not separate initiatives; rather, they formed a complementary strategy in which Viggo provided the “quality” and Taxi 4×27 provided the “quantity.” This allowed Bolt to secure sufficient supply capacity immediately upon entering the Danish market and establish a system capable of providing users with a stable paid ride-hailing service.

Bolt’s Strategy in Denmark

When entering a new paid ride-hailing market, the biggest hurdle is “securing available vehicles and drivers.” Obtaining licenses takes time, and building a vehicle network from scratch is no easy task. By partnering with Taxi 4×27—a company with a strong foundation of licensed vehicles and drivers—Bolt was able to overcome this initial hurdle in one fell swoop. The complementary nature of these two partnerships forms the core of Bolt’s strategy for entering the Danish paid ride-hailing market.

Image source: Taxi 4×27 Website

Our Case Study: EV Taxi Implementation for Taxi Operators in Japan

At Aakel Inc., we provide comprehensive support for the transition to EV taxis, including:

• Transition simulations

• Deployment of EV vehicles and chargers

• Electrical installation

• Subsidy support

• Charging optimization

We offer end-to-end assistance from implementation to operation.

In particular, for Daiichi Koutsu Sangyo, we have delivered an integrated charging information management solution that supports both Level 2 and DC fast chargers, regardless of manufacturer, with over two years of operational track record.

Challenge: Calculating EV energy costs for taxi operations

Across more than 100 branch offices, EV energy costs for taxis were managed manually using Excel, creating inconsistencies in accuracy between branches and imposing a significant burden on head office operations.

Solution: Vendor-free system not dependent on charger type

Our AAKEL eFleet system offers a vendor-free platform that supports not only OCPP-compliant Level 2 and DC fast chargers, but also chargers using ECHONET Lite or proprietary protocols from manufacturers. This allows energy use (kWh) to be tracked for each charger and each EV taxi individually.

It also enables setting custom electricity rates (JPY/kWh) per branch based on the contracted energy plan of each location.

By combining this energy consumption (kWh) with unit prices (JPY/kWh), AAKEL eFleet enables precise EV energy cost calculations. This makes it easier to compare EV energy costs with pre-transition gasoline costs and understand:

• The difference between simulated and actual costs after EV deployment

• The real amount saved on energy bills

It also helps identify optimal locations for future EV deployment, for example:

• Prioritizing branches where electricity costs are lower, even if mileage is similar

• Deploying EVs in regions with more favorable electricity pricing menus

AAKEL eFleet supports diverse operational needs and challenges related to EV adoption and charging for corporate fleets including buses, taxis, trucks, company cars, and sales vehicles.

[AAKEL eFleet]

We also support new EV-related business development for energy companies, auto manufacturers, public transit agencies, and other organizations.

Through our total solutions and consulting, we help meet the wide-ranging needs of businesses working with EVs, from commercial fleets like buses and trucks to corporate vehicles.

In addition, Aakel Inc. possesses deep expertise in the energy sector, enabling us to offer optimal solutions for a wide variety of challenges. Leveraging this knowledge and our global network, we also offer research and consulting services in the mobility space, including:

• Understanding how your products and technologies can create business opportunities in overseas EV markets

• Producing concise and easy-to-understand internal EV market reports

• Supporting new EV-related business development in Japan