Electric scooters or e-scooters, or kickboards, an eco-friendly and compact mode of transport, are attracting attention as the next-generation vehicles. Major world cities are encouraging usage of these environmentally friendly transport modes to decongest traffic and reduce pollution. In South Korea, too, major cities like Seoul, Busan, Daegu, etc., are seeing a rise in usage of e-scooters. There are more than 15 e-scooter sharing companies now in Korea. Over 60,000 e-scooters from various operators are deployed in the Seoul capital area alone, a hike from around 150 in 2018.
SWING Mobility is a leading e-scooter sharing service provider in Korea that is working with a vision to support government efforts to reduce traffic congestion and environmental pollution. SWING has deployed more than 25,000 electric scooters in the country, and the service is provided in more than 70 cities.
New services & expansion to Japan
SWING’s electric scooters can be rented easily and can be taken from the roadside anytime, anywhere. The vehicle user doesn’t need to worry about maintenance or repair, or charging. SWING’s team manages all maintenance, charging, etc. The user has to download SWING’s app for the dockless e-scooter sharing service. SWING also offers a community sharing facility that enables sharing in certain limited communities, such as apartments and businesses. The Korean startup has started new service where personal scooters can also be offered for rental through its network.
SWING plans to offer scooter sharing services for delivery riders like UberEats, etc and has deployed 1000 e-scooters as a pilot project in Seoul. SWING has received investment from Primer sazze, Spring camp, CNTtech, Venture square, Humax-Korea, Hashed and M-capital. SWING has achieved overwhelming capital efficiency by introducing franchise and consignment operating models based on high profitability.
The electric kickboard sharing service, introduced in Korea in 2018, is expected to grow 8-10 times every year and expand to 1 million units nationwide in 2022, reaching a market size of about 1.5 trillion. The government is also proposing a bill to foster kickboards and create a regulatory framework across the industry. These factors could work in favour of e-scooter companies including SWING, which is already leading the market size in Korea. With the explosive growth in Korea, SWING’s next move is to conquer the Japanese market by introducing e-scooters there.
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