E-scooter rental firm slips into financial collapse

In the bustling streets of Austria, one of the country's pioneers in micromobility, Max Mobility, is facing challenging times. Founded in 2019, the company has been providing an E-scooter rental service through its own app in several cities.

Max Mobility currently operates a fleet of around 650 E-scooters, but the road to success has not been smooth. The company has been grappling with technical issues, most notably with the GPS modules of its vehicles, which caused a significant economic loss of approximately 200,000 euros and severely restricted operations for months.

The current financial predicament of Max Mobility can be attributed primarily to existing liabilities from vehicle financing and loans from the unnamed shareholder. This has led to the looming threat of insolvency, a situation the company is working to resolve. A restructuring plan is in the works, aiming to reach a conclusion with the creditors to ensure the continuation of operations.

Revenue for Max Mobility is heavily weather-dependent, with the majority generated during the spring and summer months. However, the latest vehicle generation was not delivered during the main season but only in winter, potentially affecting revenue.

The company employs 18 staff members, most of whom are on a low-wage basis. Despite the challenges, Max Mobility remains committed to providing a sustainable and convenient mobility solution for Austrians.

As the situation unfolds, the future of Max Mobility remains uncertain, but the company continues to strive for a brighter tomorrow in the ever-evolving world of micromobility.