In an interview with ECO, Bolt's managing director in Portugal denies that there are safety issues in the sector, but adds that he would like recording (image and audio) to be mandatory on the rides.
Imagine you are in Lisbon and want to go to Porto. First, you have to find a way to get to the train station. Then you have to buy a train ticket. And once you arrive in Porto, you still have to find a way to get to the city centre. Would you prefer all these steps to be concentrated in a single app? That is what Bolt is preparing, with the first pilot projects already planned for the first half of 2026, as revealed to ECO by the director-general of the platform’s Portuguese branch.
According to Mário de Morais, the first pilot will involve integration with the bus or train network, with the cities of Lisbon and Porto being the “preferred” locations for this test. “Because we can also prove to people that it works”, he points out.
On the other hand, he rejects the idea that there are safety issues in the TVDE (Transport in Unmarked Vehicles from an Electronic Platform) sector, but adds that Bolt, after investing 100 million euros in this area, would like to take it to an “extra level”: making recording (audio and image) mandatory on all journeys.
As for the revision of the sector’s law, Mário de Morais praises the current legislation, although he admits that “minor adjustments” are needed. However, he rules out the end of the dynamic fare cap. “I think it can be removed, but I think the real impact is very small. I don’t think that because there are 70,000 people in one place, the price should be ten times higher”, he says.
Bolt arrived in Portugal in 2018. Seven years later, what has changed in the market?
The market has grown significantly due to two factors. On the one hand, there is an increasing demand. People have become familiar with using TVDE as a complement to public transport in their daily routine, when going out at night, and when they cannot take their car.
On the other hand, cities have accommodated this TVDE offer very well, and the market has exploded. The market has been growing at double digits since 2018, excluding the years of the Covid-19 pandemic. We have a market that really serves the last mile, across the country. It has gone from being a niche, luxury private transport market to what it is supposed to be, which is a complement to mobility.
You describe a rapidly growing market, but what are the biggest challenges Bolt faces today?
There are essentially two. First, closing this cycle of complementarity with transport. Imagine you need to get from here to the Estádio das Antas. You can order everything on the app, which will immediately buy you a train or bus ticket. So, everything in one app, in a simple way.
Secondly, it is about following the path that younger generations have already taken, which is that private cars have many uses, but coming into the city centre is not one of them. This evangelisation of the best form of transport and of cities being for people is the second major challenge.
Is this idea of having access to all transport (including public transport) in the same app a Bolt project? How soon do you plan to implement it?
It is our project, I would say, for this political cycle of the municipal councils. So, for the next four years. Today, we already have micromobility, TVDE, and car rental for longer trips. We already do everything that is private. Next year, we will start to have news about these connections to mass transport.
Starting with a specific geographical area? Lisbon, for example, because of its size?
Lisbon and Porto will always be preferred, because we can also prove to people that it works, and it is where public transport is also more developed. We want to be a complement, not a substitute.
A revision of the TVDE law was being considered. However, the government collapsed and the process was left by the wayside. Do you think that this revision, now with a new Executive, should go ahead?
I think there are always adjustments to be made. It is a law from 2018, it needs to be updated, but the basis of the law is very good. In fact, it is one of the best European laws because it clearly defines the figures it needs to define – the platform, the operator and the driver – it sets limits on price increases (dynamic pricing), it covers a whole range of safety issues, and it covers insurance and legal requirements. The sector in Portugal is well regulated. Of course, there are small adjustments that could bring advantages.
For example?
Putting advertising on TVDE cars. It supplements income, does no harm to anyone and even identifies them. It helps a lot. Also the issue of data sharing with platforms. Today, we share our data with the IMT because we want to, but this is not mandatory. Any platform in the country could refuse to share. This is not right and it is very easy to put it into law.
You mentioned dynamic pricing. Today there is a cap. Some political parties argue that it should be removed, which Uber supports. What about Bolt?
I think it can be removed, but I think the real impact is very small. Dynamic pricing plays on supply and demand at peak times. The cap today is double the price, and that already seems to me to be an added burden for the same trip. It’s rare that we have to apply a double dynamic pricing. I don’t think that just because there are 70,000 people in one place, you should charge ten times the price. It’s a bit of a contradiction. In reality, whether the cap falls or not, it doesn’t change the dynamics of the platform.
The argument is that, with higher prices, more drivers would be attracted to respond to these major events?
We’re not going to have thousands of people training to be available to work just a few hours. I understand the appeal of discussing this topic, but its real impact is greatly diminished.
You mentioned the issue of safety. You said that there is already a good foundation in terms of safety. But there still seems to be a perception that this sector has some problems in this area. Do you reject that?
I completely reject that. The few cases that appeared many months ago were neither Portuguese nor recent. We have also done our job. We have made a European investment of €100 million in safety, awareness and product tools. Today, if you are travelling with Bolt on a motorway at night and the car stops – which is abnormal behaviour for the journey – the customer and driver will receive a call asking if everything is OK. If no one answers, a call is made to the authorities. We have invested heavily in ensuring that people feel comfortable. There is an extra level we would like to reach one day, which is recording during the journey. This requirement has to come from the regulators, because it is the operators who have the cars and have to have these cameras.
Image and sound recording?
Image and sound. Mandatory on all journeys, something we can actually see what happened, as a deterrent, not as a problem solver. With all these features we’ve been rolling out, it’s deterred people and there are no longer any safety issues. I haven’t heard of a case like this in many, many months, which makes me happy. They don’t exist because those with bad intentions realise that there are already many tools to control the apps and therefore won’t engage in that kind of behaviour.
Regarding video recording, if Bolt wants to do this, what is currently holding back this extra security tool?
We are working with the National Data Protection Commission [CNPD], and there must also be agreement on what the recording would be, where it would be stored, who would be responsible, with the sector regulators, IMT [Institute for Mobility and Transport] and AMT [Mobility and Transport Authority]. Ultimately, this option could be included in the legislation or not. I think there is a lack of understanding among all these entities, which are many, about what the future of shared mobility should be.
Do you have a deadline in mind for this new safety tool?
No, we don’t have a deadline in mind. We are very keen to reach a conclusion during 2026 so that we can then start to implement it.
What’s new in the pipeline for 2026?
After our great victory in 2025, which was to launch in the Azores, we will complete the last few areas, which are some islands in the Azores. And the integration I mentioned at the beginning with public transport networks.
Will this integration happen in the first quarter? Can you give us some more details?
We want to have some pilot projects in place for this integration in the first half of the year, so that we can start testing not only in cities, but also in connections between cities. I think that’s where there’s a lot of added value in connecting with public transport.
Are you thinking of a connection to buses, trains, …
Buses, trains, metros.
And will the first pilot project include all these modes of transport?
The first pilot project should be with buses or trains, which provide longer-distance connections. Today, our mass transport system goes where it needs to go. We need to complement it with this type of product.
In short, a user will be able to buy a bus ticket on Bolt in the same way that they currently request a car.
Just as they request a car today. In fact, they can buy everything. They will have a key in their hand for the price of the trip and the trip itself. I leave here and want to take a bus to Porto, I pay once on the app and I will have the car here at the door, my bus ticket, for example, and then, in Porto, from the bus terminal to my destination.
Finally, is Bolt still planning to go public this year?
We don’t have any news about the IPO yet. We are following the path we need to follow, which is to be a company that always grows by double digits. To be a sustainable company, not only environmentally, but also financially. There is no news yet about the IPO, and we will wait for further developments. There are a number of challenges, so we will see how they evolve.
Regarding Bolt in Portugal, I believe you currently have 150 people working with you. Are there plans to recruit more next year and grow the operation?
We have 160 people in the Portuguese office and we will continue to grow. Operations continue to grow. We will end the year as market leaders. All of this means we need more talent and, fortunately, Portugal has a lot of talent that wants to work in this type of dynamic company.
Do you have a number in mind for recruitment?
We hire several dozen people per year. That’s the trend. We don’t have a fixed number because it’s very dynamic, and these are businesses that depend a lot on dynamism, but I would say that we will hire a few dozen people in Portugal.