Lime, the world’s leading provider of micromobility, is investing $50 million in e-bikes. The company plans to use the money to launch the latest generation of e-bikes and double the number of cities with an e-bike offering worldwide. Most of the investment will go to Europe. The latest generation of e-bikes will hit the streets in a number of new cities, primarily in France, Germany, the United Kingdom, Italy and Spain. In Germany, the number of cities where e-bikes are available will be expanded from four to at least eight to ten.
The investment comes at a time when e-bike use is surging worldwide and many people are turning to the e-bikes and e-scooters because they allow physical distance, for example, when traveling to work. Last year, nearly two million trips were made on Lime e-bikes in Europe. Lime expects that number to rise significantly in 2021 – driven by the fact that more and more people are being vaccinated and able to return to work. Since the pandemic began, the number of e-bike trips has doubled. A large proportion of customers used the service for daily shopping and commuting to work.
The latest generation Lime e-bike offers riders a high quality bike. The most important improvement is the e-bike’s interchangeable battery, which is compatible with Lime’s fourth-generation scooters. Interchangeable batteries between e-bikes and e-scooters will allow Lime to operate more efficiently and reduce the frequency of charging and reparking. The interchangeable battery also brings huge environmental benefits by reducing the logistical trips required by vans to get to the scooters and bikes. In addition, the bikes have more power as well as electric locks.
So far, Lime is active in Germany with more than 40,000 e-scooters and e-bikes in 30 cities. As a leading provider of micromobility, it aims to further expand its presence and market leadership in the German market in a timely manner. Lime has been active in Germany since June 2019 and already counts more than 2.5 million active users in this country, who have taken a total of 17 million rides to date. Germany is one of the most important and profitable markets worldwide for the Californian company.