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The era of breakneck growth for electric scooter firms is giving way to more selective expansion focused on profits as they face tougher regulations, more demanding customers and wary insurers.
Lime has announced a $50 million investment in e-bikes, including new and improved hardware and plans to expand its service to an additional 25 cities this year. The company’s newest e-bike model will hit city streets this summer as it aims to expand its fleet globally. “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 Wayne Ting, CEO of Lime. “That’s why we’re making substantial investments to upgrade our world-class e-bike and bring it to more cities across the ...
Lime to invest $50m in e-bike expansion Lime's new e-bike. Image: Lime The micromobility outfit is growing the presence of its bikes globally to complement its fleet of e-scooters. Micromobility company Lime is investing $50m in electric bikes and will expand its fleets in dozens of markets. Lime is mostly known for its e-scooter rental services but the business actually began with bikes, under the name LimeBike, before shifting its attention to scooters a few years ago. As the company has scaled rapidly in several global markets, it reintroduced bikes into its service. Last year, it also too...
More travel executives get their mission-critical industry news from Skift than any other source on the planet.Tell me more The gold is starting to lose its shine, as Donald Trump steps out of the presidential limelight and faces repercussions after the breach of the U.S. Capitol by his supporters. The hotelier was caught up in multiple scandals during his time in office. This time, the blowback will severely impact his hospitality businesses, according to experts. It’s a blowback that will likely spread further than political donations and stumbling blocks to sell a Washington, D.C. prope...