ELMO Rent reports on the development of e-vehicles promised in the IPO presentation
ELMO Rent reports that in the time between IPO subscription and trading, it has also ordered and received new electric vehicles, which resulted in the increase of the shared car fleet up to 105 vehicles by the end of June. In May-June 53 new vehicles were ordered, of which 31 are delivered, i.e., the fleet of environmentally friendly vehicles used by the ELMO Rent community increased by this number in June (of which 14 are e-cars and 17 e-motorbikes) and 22 more vehicles are expected in July. And the management has decided to place more orders.
"In cooperation with car dealers, we have really been able to get the maximal number of e-cars from Europe within the shortest delivery time, in order to meet the demand of the high season," comments Julia Nekrassova, CEO of ELMO Rent. "The last spring global raw material crisis has also had a big impact on the delivery times of new e-vehicles, but with strong and motivated partners we have been able to achieve a good result," added Nekrassova. The number of cars directly affects the quality of the service, and ELMO Rent has already made the next big leap in this respect. More shared electric vehicles also means cleaner urban space and airquality.
In the IPO presentation, ELMO Rent planned to procure at least 50 additional e-vehicles with the raised funds, of which 31 vehicles have already been used by customers by the end of June.
"At the same time, for us as a technology developer, such a big increase in the number of new electric vehicles has caused a pleasant headache for our car controller manufacturing and installation teams. But we have also coped with this challenge,” reports Nekrassova.
To illustrate, the attached chart shows the changes in the number of new vehicles added to the existing ones since 04.2018, which also assumed the need for growing the development technology and installation resource of ELMO Rent to a corresponding extent.
For more information, please contact:
ELMO Rent AS
Tel: +372 516 7991
ELMO Rent AS is a company established and operating in Estonia, the main of activity of which is the provision of environmentally friendly vehicle sharing services and the development, marketing and scaling of related environmentally friendly and innovative technologies, such as vehicle fleet IT operating system, car controller and remote controlled vehicle.
ELMO Rent is also the first responsible vehicle sharing or rental company with a quality label in Estonia.