Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
BERLIN (AP) — German engineering firm Bosch is shutting down its motor scooter-sharing service Coup, currently operating in four European cities.
In a statement Monday, Coup said it will end its operations in Berlin and the southwest German city of Tuebingen in mid-December. It said services in Paris and Madrid would also be discontinued shortly.
The company said it was not economically feasible to continue operating over the long term “given a sharing market that is extremely competitive and the service's high costs.”
Coup offered about 6,000 battery-powered motor scooters that could be located and rented using a smartphone app.
The company said it would help its 120 employees find new jobs or offer them severance packages.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
