The TESLA sharing platform OX DRIVE, created in Latvia, foresees a significant growth of the sharing market in 2024, which is facilitated by a change in the habits of the population, especially among the younger residents of Riga, who are in no hurry to own their own car.
Also, the demand for shared cars is determined by the increasingly limited availability of parking spaces near homes in Riga, increasing maintenance and operating costs, and the purchase of a new vehicle is becoming more and more expensive. Another important factor is that, in terms of price, shared cars can compete with taxis even over short distances.
The platform was also founded in Latvia last year OX DRIVE concluded an agreement with Industra Bank on the allocation of EUR 2.8 million in financing for the development of the start-up’s fleet. This allows to significantly increase the car fleet by 80 TESLA cars, reaching already 200 electric cars for sharing. Since the start of the platform’s operation in the summer of 2022, it has experienced rapid development, reaching more than 45 thousand platform users, who have made a total of 90 thousand trips with a total mileage of more than 2.3 million km. Along with the addition of the car fleet, the number of users and driving frequency also increases significantly, which can be explained by availability.
Taking into account the development of the market, OX DRIVE plans that in 2024 it will be able to almost double the volume of kilometers traveled so far, reaching 4.5 million km by the end of the year. With OX DRIVE, every kilometer driven reduces pollution. Last year in this way CO2 reduction reached at least 16,0000kg compared to internal combustion engine vehicles, which is equivalent to 7,273 trees that would have been able to absorb the same amount of CO2 in one year.
In Latvia, this niche is only in its infancy, so its development potential is high, and now is a favorable time for it to grow rapidly at the expense of Riga residents. The increase in car leasing payments, the eternal problems of parking cars near apartment buildings, especially in the center and in micro-districts, the increasing costs of operation and service, as well as the increase in the price of new and slightly used cars are contributing factors that force residents to become more pragmatic and use shared platforms for their own convenience. Our statistics show that more than 70% of active users of our platform do it regularly.
Egija Gailuma, co-founder of OX DRIVE
The use of shared cars in the world already shows a significant change in social habits in big cities. Urbanites who live in apartments are increasingly aware that it is not worth owning a car if they only use it a few times a month. Residents of Riga are also more and more aware that owning a vehicle complicates, rather than facilitates, their everyday life – the eternal problems of where and how much a parking space will cost, high leasing payments, as well as increasing service and operating costs, encourage the choice in favor of a shared car.
Urban planners also benefit as this is a way to deal with a growing transport problem in the capital. Gailuma points out that the shared car is increasingly challenging the status of the other car in the family. Another important factor is that the new generation is already growing up with a different life model – they prefer to pay as needed, rather than buy property. In addition, this way they can afford new status cars that are important to them.
It is difficult to imagine families in Riga who live in an apartment and can maintain two vehicles in the center of Riga and also in densely built micro-districts. We see families giving up each other’s car and using shared platforms when necessary.
Egija Gailuma, co-founder of OX DRIVE
Latvia’s market potential is high and it increases every year, which is confirmed by the large number of users. In addition, society is ready for the transition to more environmentally friendly electric cars. OX DRIVE is proof that the decisive factor is not the cheapest offer, but environmental issues and the innovations that electric cars bring. In addition, Tesla cars in the electric vehicle niche have high support and demand in Latvia.
According to the app data, the main user of the sharing platform lives in Riga and Pierīga, so last year the area of Riga and Jūrmala was extended to several districts of Pierīga – Mārupi, Jaunmārupi, Đadaži, Babīt, Ulbrok, Baloži, Vecākai, Vadlauči and others.
One of the reasons why residents of Riga and Pieriga are open to using the shared platform is an alternative to private transport – cheaper usage costs compared to fuel, no maintenance costs, free parking spaces in the center of Riga, as well as the possibility to bypass traffic jams using public transport lanes, as well as corresponds to the principles of a green lifestyle. The founders of the OX DRIVE sharing platform are four young entrepreneurs – Egija Gailuma (Latvia), Kristiāns Karlsons (Latvia), Juhan Kaarma (Estonia) and Kristaps Vasiļjevs (Latvia), who together created the company SIA “SPACESHIP”. By combining the experience, knowledge and achievements of the co-founders in the field of start-ups, technological innovation, shared services and the financial sector, the created product differs in the market with a much higher quality of service and the offered opportunities for its beneficiaries. TESLA is the strategic choice of OX DRIVE developers, taking into account that it is currently the best offer in future mobility – high performance combined with comfort and ecology, but the company is looking into the possibilities of expanding the car fleet with other premium class electric car.
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2024-01-22 07:06:06
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