BIZ BUZZ: From out of the blue, Bolt coming to PH
Competition in the country’s ride hailing sector is about to get even tougher with the imminent entry of Estonia-based Bolt.
Out to rival established players such as Grab and InDrive, Bolt has been expanding in Southeast Asia and has started the process of securing a license to operate from the Land Transportation Franchising and Regulatory Board.
Not only does Bolt plan to operate here, it is also looking at putting up a call center that will contribute to job creation and economic growth.
Bolt’s entry should be a welcome development for commuters and drivers as it will provide more choices for them and help keep ride hailing prices affordable.
With any luck, Bolt should be giving local rivals a run for their money within the year.
