Car-sharing company GoTo pulled out of Malta after a “lack of user uptake” worsened by the pandemic made the operation “financially unsustainable”. The company announced on Sunday that it was quitting Malta after only four years because its shareholders withdrew their support. However, they did not elaborate on the reason behind the decision. GoTo’s electric cars and mopeds could be picked up by drivers without a reservation and left behind in any of the dedicated parking spots dotted around the country. It was the only car-sharing service in the country and had been seen as one solution to Malta’s overreliance on private cars for commuting. Slow uptake However, a spokesperson for Debono Group, which is a minority shareholder in the Malta company, told Times of Malta that its international and local shareholders had been disappointed by the results. “The pandemic, as well as the lack of user uptake of the service in the long-term had a negative effect on the service,” the spokesperson said. “Over the past years, the GoTo Malta operation became financially unsustainable.” Debono Group, which also owns a controlling influence in ride-sharing platform Cool, said it had invested in...
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