Voi cuts shareholders with ties to Russia

Voi, the UK’s leading shared e-scooter operator, has removed two of its shareholders who had links to Russia.

West of England metro mayor, Dan Norris had been putting consistent pressure on Voi to part ways with the Russian shareholders since he found out about them.

One of them being Alexander Eliseev, a Russian businessman, owned around £10.8m worth of shares in Voi – this was reported in Di, a Swedish newspaper. Eliseev was the founder of Globaltrans Investment Plc – one of the Russian firms suspended from the London Stock Exchange.

Gabriel Yushevaev was the second shareholder with links to Russia. It was reported in Spanish newspaper, El Plural that Yushevaev had a 2.9 per cent stake in Voi. The multibillionaire was on the 2018 ‘Putin List’ drawn up by the US of 114 Russian politicians and 96 oligarchs.

Metro mayor, Dan Norris with Voi CEO Fredrik Hjelm – photo: Ellie Pipe

Metro mayor Dan Norris had led on campaigns, nationally and internationally, calling on Voi to axe the pair.

In March 2022, Norris threatened to pull the plug on Voi unless it severed ties to Russia.

Speaking on the recent decision, Norris said: “I welcome this news from Voi. West of England residents told me time and again that they don’t support links with the murderous Putin and his cronies and they wouldn’t feel comfortable associating with a company with questionable shareholders.

“When the cases of Alexander Eliseev and Gabriel Yushevaev came to light, I immediately told Voi my views and as local people may remember the CEO of Voi came to Bristol at my invitation for face-to-face talks.

“Since then, I have continued to keep up the pressure and so I am pleased by this outcome. West of England residents are right to expect moral leadership and I am relieved that Voi have managed to be able to do the right thing”.

…………….

Read next: Voi CEO faces questions in Bristol over links with Russia

…………….

In other news, Bristol has been named the most popular city in the UK for Voi users.

Since Voi began its trial in the city in October 2020, almost seven million journeys on the e-scooters have been taken – replacing an estimated three million independent car journeys.

Along with cutting car emissions, a new report into the impact Voi has had in Bristol shows that the e-scooters have given the city’s economy a big boost too.

The report, carried out by Volterra Partners, has found that nearly one-third of Voi trips (31 per cent) ended on Bristol’s high streets. Voi riders in Bristol are expected to spend an estimated £13m on the city’s high streets in 2022 alone.

It is no wonder why the e-scooters are so popular, with 80 per cent of people living with the city’s trial area being a five-minute walk from a Voi e-scooter at all times.

Bristol has been named the most popular city in the UK for Voi users – photo: Voi

Matthew Pencharz, head of policy in the UK and Ireland at Voi, said: “Over the past two years, Voi e-scooters have provided an essential service to people across Bristol, helping them to travel to and from work, see their friends and family, and visit local amenities. This research demonstrates for the first time the positive economic impact Voi’s shared e-scooters are having in Bristol and other cities around the UK.

“From reducing congestion and harmful emissions to supporting jobs on local high streets, it’s brilliant to see how e-scooters are directly translating into benefits for the city. We’re continuing to work closely with Bristol City Council, the West of England Combined Authority and the local community to ensure that more people can access the benefits of Voi’s shared e-scooters across the city.”

Main photo: Mia Vines Booth

Read next:

• Voi shows solidarity with Ukraine while also having links to Russian state
• Metro mayor threatens to stop Voi trial over Russia links 
• Voi could be taken over by new operator next year
• Woman riding e-scooter in life-threatening condition after collision with car 

Listen to the latest Bristol24/7 Behind the Headlines podcast: