Search for...

Who’s Who in the E-Mobility Market in Southeast Europe

Electric transportation market players
Image credit: Canva

The future of automotive is electric. There’s no doubt about that. When some of the largest car manufacturers worldwide announce their plans to fully transition their vehicle production to electric and hybrid in the next 10 to 20 years, it sends a clear message to the markets: the race to electric transportation is on. 

In parallel, the pressure on cities to host increasing higher populations, while battling the effects of climate change and pollution has led to a search for shared urban mobility solutions. From electric buses to mobility-as-a-service models such as e-scooter rentals, these solutions could decongest traffic and keep the air clean. 

Finally, a transition of our transportation systems to e-mobility wouldn’t be possible without having the right infrastructure in place, starting with charging points and stations.

Innovation and startups are key to propelling this future. Looking at Southeast Europe, The Recursive mapped the key players in the electric transportation market.

Electric vehicle manufacturers

Name: Dacia

Headquarters: Mioveni, Arges, Romania

CEO: Denis Le Vot

What they do: Dacia is a brand within the Renault Group. The Romanian car manufacturer was founded in 1966, and became one of the key local players. It counts over 7.5 million customers across Europe and the Mediterranean region. In 2021, Dacia brought to market the most affordable electric car in Europe, Dacia Spring. A new model is set to replace Spring starting with 2024.

 

Name: ATP Trucks Automobile

Headquarters: Baia Mare, Romania

Founders: Mircea Cirț, Adriana Cirț

What they do: ATP Trucks Automobile is a Romanian manufacturer that assembles Truston concrete mixers and dump trucks and the ATP Bus electric bus, the first 100% electric bus in Romania. The e-UpCity bus has an autonomy of up to 360 kilometers and a capacity between 80-95 seats.

 

Name: Rimac Automobili

Headquarters: Sveta Nedelja, Croatia

Founder: Mate Rimac

What they do: The company was founded in 2009, growing from a garage project into a globally recognized technology leader. Now part of Bugatti Rimac, it’s a leading electric hypercar brand that designs and produces next level performance cars. Most recently, the company raised a €500 million Series D round, led by SoftBank and Goldman Sachs

Read more:  Facial biometric payments startup PayByFace launches a pilot with one of the biggest banks in Bulgaria

 

Name: Kinetik Automotive

Headquarters: Varna, Bulgaria

Co-founder & CEO: Teodosy Teodosiev

What they do: Kinetik is a manufacturer of limited custom-designed electric vehicles, including two-seat sports cars and go-karts. The company uses 3D printing and parametric modeling. After an accident burned the company’s headquarters in the beginning of 2021, the company started a crowdfunding campaign.

 

Name: Econic One

Headquarters: Varna, Bulgaria

Founders: Galin Bonev

What they do: The e-mobility company formerly known as Eljoy specializes in designing and producing smart electric bicycles for urban mobility. They combine proprietary hardware and software, and have a smart-bike application for consumers and a fleet management software platform for business customers. The company recently raised a €6M round from VC funds.

 

Name: Give Engineering

Headquarters: Athens, Greece

Founder: Elias Nassiopoulos

What they do: Give Engineering produces an innovative electric scooter with three swappable lithium batteries and a driving range of 112 miles. It can go at a speed between 15 and 31 mph. The company was founded in 2016 by four people with engineering experience at Force India Formula 1 team and the European Nissan Research and Development Centre.

 

Name: Greyp Bikes

Headquarters: Sveta Nedelja, Croatia

CEO: Kresimir Hlede

What they do: Greyp Bikes is designing, engineering and producing high-end electric bicycles, blending AI, data gathering and augmented reality. They started in 2013 as testing the intersection between mobility and technology, and are now present in over 40 countries and on all continents. Porsche recently acquired a majority stake in the Croatian company.

 

E-mobility services rental companies

Name: SPARK Technologies

Headquarters: Vilnius, Lithuania, with offices in Bulgaria and Romania

CFO: Stefan Spassov 

What they do: SPARK is an electric car-sharing company, with a platform consisting of a 1,500-car fleet that can be accessed via the mobile app across Bucharest, Sofia, Plovdiv, and Vilnius. The company currently has more than 250,000 users. At the beginning of the year, SPARK concluded a €30M capital commitment from an alternative investment group.

Read more:  Can We Talk About How Exhausted Our Soils Are? These Tech Entrepreneurs From the Balkans Know How to Revive Our Lands

 

Name: Autonom

Headquarters: Bucharest, Romania

Co-founders: Dan Stefan, Marius Stefan

What they do: Autonom is the largest car rental company in Romania, with a national coverage of 46 locations in 33 cities, and a fleet of over 12,000 new cars. Recently, the company raised €15 million from the European Investment Bank to acquire electrical and hybrid vehicles for its fleet.

 

Name: Hobo

Headquarters: Sofia, Bulgaria

Co-founder: Teodor Rachev

What they do: Hobo is a shared micro-mobility provider of electric scooters in Bulgaria. So far, the startup has received €670K in funding.

 

Name: Ride Splash

Headquarters: Bucharest, Romania

Founders: Cosmin Doroftei

What they do: Ride Splash is an electric scooter rental service company in Romania. So far, the startup has received €500K in funding, reports Start-up.ro.

 

Name: Instacar

Headquarters: Athens, Greece

Co-founders: Antonis Zois, Vassilis Damianos, Antonis Samothraki

What they do: Instacar is a leading car subscription service in Greece, offering subscribers access to authorized dealership cars with flexible terms. It was founded in January 2018 and officially launched in September of 2019. So far, the company received $2.2 million in funding, according to Crunchbase.

 

Name: Teleport

Headquarters: Bucharest, Romania

Founders: Grigore Danciu

What they do: Teleport taps into the Romanian electric transportation market with a car rental service. Cars can be picked up or delivered at your doorstep, and returned in Bucharest. 

 

Name: Cyrcl

Headquarters: Sofia, Bulgaria

Executive Director: Enriko Marinov

What they do: Cyrcl is a micro-mobility bike sharing provider based in Sofia. At its launch earlier in 2022, the startup received an investment of €100K from angel investors.

 

Electric charging infrastructure players

Name: AMPECO

Headquarters: Sofia, Bulgaria

Co-founders: Alexander Alexiev, Orlin Radev

What they do: AMPECO is a software company that offers a white-label and hardware-agnostic management platform for EV charging, as well as white-label EV driver apps.

 

Read more:  Romanian bonapp.eco launches mobile app to combat food waste
Name: ELBUL

Headquarters: Bulgaria

Founders: N/A

What they do: ELBUL offers an EV charging package including software, mobile applications, roaming, and chargers. They claim to have more than 100K charging stations available throughout 30 countries in Europe. 

 

Name: LEKTRI.CO

Headquarters: Timisoara, Romania

CEO: Claudiu Suma

What they do: LEKTRI.CO designs, produces, and offers smart EV charging solutions for households and commercial customers. The company was founded in 2017, and now has offices in Italy and Poland, in addition to Romania.

 

Name: WATTO Stations

Headquarters: Bucharest, Romania

CEO & Founder: Daniel Pintilie

What they do: WATTO Stations is an ultra-fast charging network for private and commercial electric vehicles, present across Central and Eastern Europe. The startup is also backed by Early Game Ventures, a Romanian VC fund.

 

Name: Renovatio

Headquarters: Bucharest, Romania

Managing Partner: Alex Teodorescu

What they do: Renovatio is an EV charging network in Romania. Currently, they are present through 409 charging points and 281 charging stations, in 174 locations across the country.

 

This list is not exhaustive. If you think other electric transportation market players should be on the map, drop us an email at [email protected]

Thank you for reading The Recursive!

Over 1 million people from all over the world have learned about the tech ecosystem in Central and Eastern Europe thanks to The Recursive. In order to keep our content free for everyone, we need your help. If you believe what we do is important and have the means to do so, support us in giving a voice to Central and Eastern Europe with as little as €7. Thank you!

DONATE Keep reading this article
Tags:

Help us grow the emerging innovation hubs in Southeast Europe

Every single contribution of yours helps us guarantee our independence and sustainable future. With your financial support, we can keep on providing constructive reporting on the developments in the region, give even more global visibility to our ecosystem, and educate the next generation of innovation journalists and content creators.

Find out more about how your donation could help us shape the story of the SEE entrepreneurial ecosystem!

One-time donation

You can also support The Recursive’s mission with a pick-any-amount, one-time donation. 👍

https://therecursive.com/author/antoanelaionita/

Antoanela is a Deputy Editor at The Recursive, where she writes about climate tech, blockchain, and other high-impact innovations in Southeast Europe. She loves complex topics and translating geek to chic. Her holy grail is telling stories that have great potential for social and environmental impact. Prior to becoming a full-time journalist, she worked in various sustainability roles.
Startups