For all transportation journeys, about 50-60% of the travel distance is less than 8 kilometers. In such short- and medium-distance travel, using micro-transportation solutions is often more convenient than driving. Therefore, in recent years, the global micro-transportation industry has become increasingly popular, and shared micro-transportation solutions have a place in this industry.

Shared micro-transportation solutions, such as bicycles, motorcycles, electric bicycles, electric scooters, etc., have been booming since 2015. Although the business model soon collapsed in China, it also made such a sharing model deeply rooted in the entire market. Shared micro-transportation well meets the transportation needs of modern metropolitan areas. The roads in metropolitan areas of various countries are becoming increasingly crowded. Such solutions help to break down transportation into small pieces and use these transportation vehicles more efficiently, achieving faster transportation, reaching the destination and reducing the number of urban transportation vehicles.

Among various micro-transportation solutions, shared electric bicycles have a very good unit economic model. Compared with motorcycles, they have lower hardware costs, but the charges are quite similar, so the time to recover costs can be accelerated. Compared with bicycles, although the hardware costs are higher, the charges can be 3 to 4 times higher, so the cost recovery speed is not slower, and the profit after cost recovery can even be higher.

In addition to charging fees, micro-transportation is also a very good channel to acquire users. Since transportation is a basic need, the user acquisition cost is relatively low compared to other industries. After obtaining a large amount of user information and related mobile data as an entry point, there are actually quite a lot of business models that can be imagined.

Taiwan has an advantage in the hardware of electric bicycles. Taiwan has a good industrial chain and R&D technology, and everything from design to development and manufacturing can be met in Taiwan. Therefore, if we can make good use of Taiwan's advantages, we believe that we can create the next international company.

In 2020, Covid-19 swept the world and greatly changed everyone's lifestyle. In the short term, due to the lockdown or the change to remote work, the shared micro-transportation industry has a great impact. However, because of the epidemic, people need to maintain social distance, so in short- and medium-distance travel, they will be more inclined to solutions such as shared electric bicycles rather than taking public transportation. This may permanently change everyone's transportation habits, and we believe it will be beneficial to the entire industry in the medium and long term.

The founder of Moovo has learned from past experience with Mobike and leveraged Taiwan's hardware manufacturing resources to expand the entire shared electric bike solution not only in Taiwan but also to the European market. Electric bikes are just the starting point. In the future, the system and hardware must be modularized. Whether it is bicycles, electric bikes, or scooters, the same system and modules can be used to achieve one-stop service for all micro-transportation needs. We are happy to see that Taiwan has such an international team that utilizes Taiwan's advantages. In this era when the world has slowly become accustomed to dancing with the epidemic, we look forward to Moovo's wonderful performance in the international arena in the future.