Denso, which has its North American headquarters in Southfield and is one of the world’s largest mobility suppliers, has invested $20 million in Palo Alto, Calif.-based Bond Mobility Inc., a company that delivers speed eBike sharing services.
The investment was led by Denso’s New Mobility Group, which is based at the company’s global headquarters in Japan. Denso will use Bond technologies to accelerate the development of its mobility as a service (MaaS) model.
In recent years, heavy traffic congestion in urban areas all over the world has contributed to one of the largest shares of greenhouse gas emissions. Denso says it is committed to reducing CO2 emissions by half with technologies that resolve global warming, energy, and resource issues.
Micromobility – defined as an urban transportation solution covering short distances and includes options like eBikes, scooters, and docked bikes – is another solution to the problem.
Bond’s eBikes have top speeds of 30 miles per hour with average trips of four miles compared to conventional micromobility services, which typically cover distances of only 1.5 miles.
“While Denso is certainly concerned about the projected future decline of new car sales in the United States, we are also very excited about the growth possibilities offered by the new types of mobility that are being pioneered by startup companies around the world,” says Tony Cannestra, director of corporate ventures at Denso. “Although micromobility is a fairly new concept for the transportation industry, its potential value to urban environments is undeniable, and it is an area we are excited to support through an investment in Bond Mobility.
“With the rise of smart cities and countries focusing on reducing environmental harm, Bond Mobility has the capabilities to provide people with easy and safe short-range transportation options, enabling Denso to help achieve its goal of drastically reducing CO2 emissions.”
Bond provides micromobility through its high-performance speed eBike service, currently operating in Zurich and Bern, Switzerland. Bond has the power and speed to provide wide-ranging utility in an urban environment while easily fitting into local “bicycle” regulatory requirements. It also is safer, more efficient and robust than other sharing services currently available.
“At Bond, we have big ideas about the possibilities of small vehicles, and we are thrilled a top-tier auto supplier recognizes that as well and has made such a major investment in our company,” says Raoul Stockle, co-founder and CEO of Bond.