Investor and tech CEOs warning call to UK government

• CEOs of e-scooter and e-bike companies and representatives of world’s largest tech investment firms are signatories to a letter to UK Prime Minister Rishi Sunak
• They are  warning that delays to sustainable transport legislation are harming investor confidence in the UK
• Rental e-scooters are permitted only under UK Government trials which run out in May 2024
• The letter warns that blocking micromobility growth is creating concerns among tech investors that the UK is no longer an attractive market for investment

Voi CEO and co-founder Fredrik Hjelm Credit: Voi

London Wednesday 1 November 2023:A global coalition of investors and micromobility tech CEOs are warning the Prime Minister that delays to sustainable transport legislation are harming the investor community’s confidence in the UK, causing it to fall behind the rest of Europe.

The CEOs of e-scooter and e-bike companies Voi, Dott, Lime and Zeus, as well as representatives from some of the world's largest investment firms, are among signatories to a letter to Rishi Sunak, suggesting the government’s ongoing delays to create legislation to make e-scooters permanent directly contradicts the Prime Minister’s ambitions to welcome green tech companies to the UK.

Fredrik Hjelm, CEO and co-founder of Voi, one of Europe’s leading micromobility companies, said: “People in the UK have welcomed e-scooters. We know from our experience of operating them in 18 English towns and cities that they are being increasingly relied upon for commuting, getting to appointments and for leisure travel.

“We’ve invested greatly in the UK in terms of staff, warehouses, e-scooters and e-bikes, but we now need the government to commit to us so that we can continue to invest in the UK, as we are in 12 other countries across Europe where micromobility is more firmly established.”

The CEOs and tech investors warn the Prime Minister: “Without a clear indication from your government of its intention to bring forward micromobility legislation, we strongly believe the UK will continue to fall further behind its European and global counterparts in this industry, and miss out on the huge potential for economic growth through micromobility in towns and cities across the country.”

Since rental e-scooters were established in England through government trials three years ago, 2.3 million riders in the UK have made over 34 million journeys with Voi alone - with positive environmental and economic impacts on cities and towns.

E-scooter trials represent hundreds of millions of pounds investment into the UK market, with significant sums pumped into the economy through jobs, infrastructure, research, and the development of new technologies. 

Research has also shown that this investment generates a multi-million pound boost to local high streets through increased retail activity.

But rental e-scooters are only available through government trials while private e-scooters are illegal to use on private roads. The trials have been extended three times, delaying legislation and causing general confusion about the legal use of e-scooters.

The letter warns that blocking growth in micromobility directly contradicts the Prime Minister’s and Chancellor, Jeremy Hunt’s ambitions to to turn the UK into the next Silicon Valley, creating concern among investors that the UK is no longer an attractive market for investment. 

This is backed up by the OECD’s Business Confidence Index which shows business confidence in the UK is now below France, Germany, and the averages for the EU and OECD.

The micromobility sector is one of the world’s fastest growing industries - currently valued at $180 million and predicted to grow in value to $440 billion by 2030.*

The letter says: “The UK is well placed to be a global leader in the sector and key beneficiary of this growth - with Bristol being one of Europe’s most popular services and London set to follow suit, towns and cities across the country have the potential to replicate this success and see a boost to their local economies. 

“Following the passing of micromobility legislation in Ireland in the last few weeks the UK is now the only country in Europe - along with the Netherlands - that is not taking advantage of the socio-economic benefits of these new modes.”

Ends

Notes to editor

* Data from The Future of Mobility, McKinsey Quarterly, April 19 2023.

For further information, please contact: 

Juliette Maxam, Senior PR manager, Voi UK, Ireland and France

juliette.maxam@voiapp.io

About Voi 

Founded in 2018, Voi is a Swedish micromobility company offering e-scooter and e-bike sharing in partnership with towns, cities and local communities. We believe e-scooters can play a central role in changing how people move in our towns and cities in the future. We want to ensure that the micromobility transformation happens the right way - through real innovative technology, open and transparent dialogue with towns, cities and governments and by adapting our products to local needs. Voi’s holistic Environmental Action Plan tackles emissions and promotes renewable energy use and circularity along its supply chain. 

Voi operates in over 100 towns and cities across 12 countries. It is headquartered in Stockholm and employs 1,000 people. To date, Voi boasts more than seven million riders and has served more than 150+ million rides.