Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 92

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 4
Chunk 92
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. Our subscription package prices are set to dynamically adjust to reflect
the level of real-time ride requests that Marti directs to its users.

As of December 31, 2024, our ride-hailing service
has served 1.66 million unique riders and includes 262,000 registered drivers. Our ride-hailing service currently operates in four cities,
İstanbul, Ankara, Antalya, and İzmir, with plans to expand into additional cities in 2025. Of our 262,000 registered drivers,
208,000 are in Türkiye’s largest city, Istanbul. This is in contrast to 20,311 taxis serving the city. With 10 times as many
registered drivers as taxis serving the city of Istanbul, we are able to offer widespread availability across the city.

Complementing our ride-hailing service, Marti
also operates Türkiye’s largest fully funded fleet of two-wheeled electric vehicles, including e-scooters, e-bikes, and e-mopeds.
We provide access to our two-wheeled electric vehicles for our customers on a per-ride basis over the customer’s desired period
of use. Since launching in March 2019, our fleet has expanded to more than 38,000 vehicles, serving the three major cities of Istanbul,
Izmir, and Antalya. Our proprietary software and IoT infrastructure enable a seamless experience for riders and facilitate efficient fleet
management. As of December 31, 2024, Marti has served over 109 million rides to more than 5.9 million unique riders using our ride-hailing
or two-wheeled electric vehicle services. A unique rider is defined as a paying customer who has completed at least one ride across our
ride-hailing or two-wheeled electric vehicle services.

We offer environmentally sustainable transportation
services to our riders. Our ride-hailing service promotes shared trips and our rentable services are currently delivered via fully electric
two-wheeled vehicles, contributing to reduced emissions in the cities where we operate. Our operations have helped us avoid approximately
941 tons of CO2 emissions in 2023, equivalent to the CO2 absorbed by approximately 43,000 mature trees.

We plan to continue to grow our existing urban
transportation services, introduce additional forms of environmentally sustainable mobility services that are electric and/or shared,
and leverage our existing scale and customer base to offer adjacent, tech-enabled services beyond transportation.

We believe our plan for sustainable growth positions
our services to be