Veo Shares Findings of Inaugural Rider Survey

More Than 50% of Car Trips Could be Replaced by Micromobility Vehicles Says Veo CEO 

CHICAGO, May 18, 2022 /PRNewswire/ -- Veo, the first profitable micromobility company, recently completed its first annual rider survey to better understand user demographics and use cases, collect feedback, and monitor progress as the company continues to expand its footprint and bring new modes of shared micromobility to market.

The survey highlighted that Veo's partnerships with more than 30 cities across the U.S. are encouraging more people to get out of their personal vehicles and use micromobility options as their preferred method of transportation.

"Whenever we speak with city leaders, one statistic always rises to the top of the discussion: about 50 percent of car trips in urban areas are three miles or less," said Candice Xie, VEO CEO and co-founder. "Robust micromobility programs paired with safe travel lanes can replace these short car trips, offering an affordable, more sustainable, fun form of transportation. As new and used vehicle prices continue to rise, inventory remains low, gas prices escalate and concern for climate change increases, now is a pivotal time for micromobility."

Veo surveyed more than 1,600 riders in more than 30 markets across the U.S. Respondents included women (38%) and men (52%) whose ages range from 18 to 56+.

Veo 2022 Rider Survey Highlights

Why People Ride:

• 83% - to visit friends and family
• 57% - to commute to work
• 53% - running errands
• 49% - to have fun
• 43% - to reduce vehicle usage
• 18% said they were able to eliminate personal vehicle use
• 25% reported a decreased use in personal vehicles

Nearly half of survey respondents also indicated that micromobility has made travel more affordable, and more than 52 percent of respondents across all income brackets indicated that access to Veo was important to them.

Veo has a mixed-use fleet comprised of six vehicle types in markets across the U.S., and the company plans to further expand its portfolio in 2022. When it comes to vehicle types, survey respondents prefer different options:

• 34% of users prefer the Cosmo line of seated e-scooters and class 2 e-bikes, designed to allow riders of varying body types and physical abilities to travel longer distances while maintaining balance and control.
• 31% of users opt for the Astro stand-up scooter, which features the industry's first integrated turn signal and front and rear suspension.
• 5% favor the Halo e-bike, which has a torque sensor that automatically adjusts to the riders' pedaling to assist when needed.
• 2% prefer the Halo pedal bike.
• 18% did not have a vehicle preference.
• 11% were unsure of preference.

"Offering a mixed-use fleet is critical to the success of any shared micromobility program. Veo's varying vehicles increase access for a broader set of riders and offer opportunities for more diverse use cases," said Edwin Tan, Veo co-founder and president. "As discovered in the survey, in some cities, older riders prefer the seated Cosmo e-scooter up to three times more than the standing Astro version. 

Click here to view the complete survey and visit www.veoride.com for more information about Veo.

ABOUT VEO
Veo is bringing the next generation of shared electric bikes and scooters to cities and universities around the world. Founded in 2017 by two Purdue University graduates, Veo operates from a set of values that distinguish us in the industry. We are grounded in financial responsibility: Veo partnered with select cities to achieve profitability before scaling. Our in-house design and manufacturing process enables us to constantly innovate and provide cities with vehicle fleets that are made to last. We develop collaborative, long-term partnerships with cities and universities so we can work together toward a sustainable, safe, and equitable transportation future. Learn more at veoride.com.

SOURCE Veo