Bicycle-sharing system company Lime has announced that it will be investing £25m into its London operations after a year of record growth.
Some 156m trips were taken on Lime’s e-bikes and scooters in 2023, with more than 9.2m new riders using the platform and a doubling of usage in over 42 of its cities.
Gross bookings jumped 32% to 616m, helping full-year earnings before taxes, depreciation, and amortisation (EBITDA) reach in excess of £90m, a more-than 500% year-on-year increase.
Lime also increased its operations in several major UK cities, adding new or amending fleets in Nottingham, Derby and Salford.
The news follows after Paris announced that it would be banning e-scooters following a series of injuries, becoming the first European city to do so.
READ MORE: Dott, Lime and Voi to run second phase of TfL’s rental e-scooter trial
Lime’s chief executive Wayne Ting said: “Last year marked a watershed moment for Lime and the shared electric vehicle industry.
“We achieved significant growth in our gross bookings and adjusted EBITDA.
“This is a strong affirmation that our team is building a resilient business capable of achieving our long-term mission. More riders took more rides on our e-bikes and e-scooters than ever before.
“On the heels of another record setting year, Lime is poised to continue our growth in 2024, with new vehicle options and plans for expansion to new cities.”
Achievements and innovations in e-mobilty will be celebrated at the third annual CiTTi Awards, which will be held on 26 November 2024 at De Vere Grand Connaught Rooms in London. Nominations are open now! Please visit www.cittiawards.co.uk to learn more about this unmissable event for the UK’s transportation sector.
