Helbiz announced today a further expansion of an existing partnership with Segway, a leader in personal transportation services. The micro-mobility specialist is expanding at a respectable rate, but is it aggressive enough to back up a rather dubious economic model?
The company is starting to establish a prominent global footprint following consistent partnerships with international mobility specialists, and today’s extended partnership with Segway marks a prominent milestone of 35,000 globally owned vehicles during the first half of 2022.
The expansion of the partnership involves the introduction of the Segway T60 Lite scooter, equipped with a fish-eye camera with an AI-powered system that is able to detect and avoid obstacles, as well as identify driveable areas, road edges, and more. The addition is the latest micro-mobility vehicle in a two-year relationship between Helbiz and Segway; both with shared ideals revolving around improving urban air pollution.
This is a great achievement for Helbiz and an equally eye-opening day for investors. For Helbiz to really be financially viable, they would have to embark on an aggressive expansion strategy in order to scale efficiently; and it seems they are walking on the right path.
Previous quarterly earnings haven’t exactly placed the company in the best light, with losses outweighing growth. Helbiz has the potential to be more than visionary, and with today’s milestone of 35,000 vehicles on the roads, it will be interesting to see what 2022 brings for the ambitious young company.
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Oliver is a financial writer and analyst specialising in the US stock market, with years of personal experience in understanding micro/macroeconomic structures, market trends and fundamental analysis.