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Lime invests in new shared e-bike hardware to expand service

Lime plans to expand its e-bike service to an additional 15 European cities in 2021, while continuing to scale its scooter and moped fleet to offer a multi-modal electric vehicle offering.

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Lime will bring its e-bike to new cities, particularly in France, Germany, UK, Italy and Spain
Lime will bring its e-bike to new cities, particularly in France, Germany, UK, Italy and Spain

Electric vehicle-sharing company Lime has announced a $50m investment in new e-bike hardware to scale its latest-generation e-bike to double the number of cities globally.

 

Lime plans to expand its e-bike service to an additional 15 European cities in 2021, while continuing to scale its scooter and moped fleet to offer a multi-modal electric vehicle offering.

 

Shared e-bike

 

Most of the investment will be focused in Europe where Lime plans to bring its shared e-bike to new cities, particularly in France, Germany, UK, Italy and Spain.

 

The investment comes as e-bike use surges around the world, with many city residents replacing traditional commutes with the open-air, socially distanced option. According to Lime, European riders took almost two million rides on its e-bikes last year and Lime said it expects that number to grow significantly in 2021, spurred by city residents getting vaccinated and returning to work in larger numbers.

 

“As we build out the Lime platform to serve any urban trip, e-bikes are a key piece of the puzzle as a perfect option for medium-length trips,” said Ghassan Haddad, head of European affairs for Lime.

 

“It’s why based on the feedback we heard from cities, we’re making substantial investments to upgrade our world-class e-bike and bring it to more European metropolis, providing riders a new and exciting way to leave their cars behind,” he continued.

 

“Shared micro-mobility is playing an essential role in getting cities moving again safely so we see this as a critical moment to double down on e-bikes as an open-air, socially-distanced transportation option.”

 

Lime reports the $50m investment in hardware upgrades and expansion is a result of it achieving its first full quarter of profitability in 2020. It claims the investment is made possible by its focus on building quality, longer-lasting hardware, improving its operations across the world and building close relationships with cities and the communities it serves to ensure reliable, responsible and safe micro-mobility service.

“Shared micro-mobility is playing an essential role in getting cities moving again safely so we see this as a critical moment to double down on e-bikes as an open-air, socially-distanced transportation option”

The investment comes as the way e-bikes are used changes in Europe, with many city residents replacing traditional commutes with the open-air, socially distanced option, Lime reports.

 

Its data shows that riders take almost twice longer trips on e-bikes since the pandemic began and their main purpose is either daily commute or shopping errands versus recreation or social activities previously.

 

“Covid has changed the game for e-bikes in Europe and we want to make sure we partner with cities to address new demand for sustainable and shared mobility,” added Haddad.

 

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