Micromobility provider Lime has announced that it is to invest US$50m (£35.8m) in its e-bike operation as part of hardware upgrades and expansion into an additional 15 European cities this year.
The company said its investment in new e-bike hardware will enable it to launch its latest generation of e-bike as it aims to double the number of cities globally where it provides shared e-bike services.
Most of the investment will be focused in Europe with the new e-bikes being deployed in France, Germany, the UK, Italy and Spain.
Ghassan Haddad, head of European affairs for Lime, said: “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.
“It’s why, based on the feedback we’ve 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.
“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.”
Lime’s latest generation e-bike features increased power, electric locks and swappable batteries interchangeable with its Gen4 scooter.
The investment has been made possible following Lime achieving its first full quarter of profitability in 2020, an achievement due to focussing on building quality and longer-lasting hardware and improving its operations globally.
Furthermore, Lime’s data has highlighted that riders have taken almost twice longer trips on e-bikes since the Covid-19 pandemic started. Lime’s study shows that e-bikes are mainly used for either daily commutes or shopping errands rather than for recreation or social activities as it was in previous years.
“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.
