E-Scooter firm Voi doing all it can to end Russia links, claims chief executive
Fredrik Hjelm met West Country Mayor Dan Norris in Bristol after it emerged two Voi shareholders have links to the Russian state
The company that owns the e-scooters across Bristol and Bath claims it is doing everything it can to end its links with Russia.
Swedish company Voi runs the e-scooter trial currently ongoing across both cities, but last month following Russia's invasion of Ukraine, it emerged that two Russian businessmen are shareholders.
Neither Aleksander Eliseev or Ilya Yushaev are currently on any international sanctions list relating to the war, but Eliseev is also a major shareholder of a freight company called Globaltruck, which is part owned by the Russian state.
He has also been linked with an oligarch named Alexei Mordashov who has been hit by sanctions from the EU.
For that and other reasons, both are considered to have links to the Kremlin, which West of England Mayor Dan Norris recently highlighted as of significant concern.
To attempt to put those fears to bed Voi's chief executive Fredrik Hjelm has visited Bristol to hold talks with Mr Norris and both took part in a press conference afterwards.
"Fredrik has been, as far as I can tell, open and honest with me," Mr Norris said, when opening the conference at the Mercure Grand Hotel in Bristol City Centre.
"I see that as him coming in today, as a sign of his concern...
"I have to be very candid with you and just say that the people of the West of England are concerned, deeply concerned in some instances in my view, about what's been happening in the Ukraine and they want to know either factually, or their perception, that Voi is not in any way linked with the bad things that we're hearing about day by day."
Last month the Metro Mayor appeared to suggest he could end the ongoing e scooter trial early if the company's ties with Russia are not severed, but speaking at the press conference he clarified his position.
"That (the trial) must continue and I keep an open mind about what should happen at the end of that trial," he said.
"We had very candid discussions, not always comfortable I have to say because these things are difficult, and I have to say Voi have a difficult call to make.
"For me it's very clear that I would want any company operating in the West of England to have the minimum amount of links to the Russian regime."
Speaking after Mr Norris, Mr Hjelm, who once served in the Swedish military and was deployed to Russia during that time, said they would not be accepting any new investment from Russia.
"Post (the) Russian invasion, I think if you ask any company...of course you wouldn't take investment from an investor with (a) Russian origin, you just wouldn't," he said.
"But we can also not rewrite history."
Voi, Mr Hjelm outlined, is stopping all business in Russia, including selling its stake in a similar company in the country.
It is also ending all supply chain activity in Russia and making donations to Ukraine including toys, clothes and other goods.
Getting rid of their Russian shareholders however, will be more complicated.
"You can't just take shares from an investor because they own the shares, so then you need to agree upon a price," Mr Hjelm said.
"We are having conversations with them continuously...It's complicated to find a price now where a private investor would sell at a price the buyer wants to buy them, but we're working on doing the best we possibly can."
When a person owns a stake in a private company, in normal circumstances they would then have a vote on major business decisions, but Mr Hjelm confirmed both Eliseev and Yushaev have transferred their voting rights to him, meaning they now have "basically zero influence in the company," he said.
Mr Hjelm also claims that both are against the war in Ukraine, but are largely unable to say so publicly because they have family in Russia.
Regardless, Mr Norris has made it clear that he is uncomfortable with a company operating here having any links to Russia.
"I'm not happy about these people being shareholders in Voi and Voi's links with the West of England," he said.
"I'm certainly not happy that there's that connection and I want to see that severed."
Nearly four million rides have been taken on Voi's e-scooters across Bristol and Bath since the trial launched in 2020, with around 1.4 million of those thought to have replaced car journeys, according to survey data.
By the numbers it is the most successful trial of e scooters anywhere in the UK, but unless Voi's Russia connections are resolved, Voi could cease to provide scooters when the trial ends in November 2022.
"I have impressed upon Fredrik how serious I think this is," Mr Norris said.
"He says he shares that view, and so now I have to let him go and do whatever he can, legally of course (to get the Russians out of the company)."