Lime to spend $50 million to expand e-bikes into 25 more citiesMarch 2, 2021
Lime is investing $50 million in its e-bike business, which includes rolling out new and improved hardware and making the service available in 25 more cities this year, the company said in a blog post Monday. Its newest e-bike model, which “provides an extra boost for tough hills, a phone holder for navigation and swappable batteries compatible with our Gen4 e-scooter,” is slated to come out in the summer.
The electric scooter and e-bike company says it’s focused on expanding primarily to cities in Europe and North America, as well as a few in Australia and New Zealand.
“Shared micromobility is playing an essential role in getting cities moving again safely,” Lime CEO Wayne Ting said in a statement, “so we see this as a critical moment to double down on e-bikes as an open-air, socially-distanced transportation option.”
The newest e-bike includes increased motor power and an automatic two-speed transmission to replace older bikes’ gears for a smoother ride.
Lime says people took more than 3 million rides on its e-bikes last year amid the, and it expects that number will rise significantly this year as people and go back to work, school and social activities.