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Lime invests $50 million in its e-bike micromobility service

Published March 1, 2021

SAN FRANCISCO (BRAIN) — Ride-share company Lime announced a $50 million investment in e-bikes that includes upgraded hardware and plans to expand service to 25 more cities this year.

In addition expanding to new locations, primarily in Europe and North America, Lime also will add a new e-bike model this summer. The investment comes after Lime achieved its first full quarter of profitability in 2020. In May 2020, Lime acquired Uber's JUMP bike-share line of e-bikes and e-scooters.

"As we build out the Lime platform to serve any trip under five miles, e-bikes are a key piece of the puzzle, providing a perfect option for medium-length trips," said Lime CEO Wayne Ting. "That's why we're making substantial investments to upgrade our world-class e-bike and bring it to more cities across the globe, giving riders a new and exciting way to leave the car behind. Shared micromobility 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 new e-bike model will feature an interchangeable battery that can be switched out with Lime's Gen4 e-scooter. Lime said the interchangeable battery will streamline operations across its line and reduce charging frequency, resulting in more fully charged vehicles.

Other features include:

  • More powerful motor.
  • A phone holder, allowing riders to navigate and follow directions without having to stop.
  • A new handlebar display that aligns with Lime's scooters for a standardized display across vehicle types.
  • An automatic two-speed transmission that eliminates the previous generation's gears.

Lime also announced a partnership with the League of American Bicyclists. The partnership includes an education campaign for Lime riders on safe bike and scooter riding via a safety quiz tailored to individual cities and universities. Lime also will work with the league to leverage local bicycle clubs and its riders to advocate for federal, state, and local funding and action to create safer streets for micromobility.

Topics associated with this article: Electric bike

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