Lime said on Monday it has allocated $ 50 million for its bike-share operation, an investment that has been used to develop a new ebike and is expanding its expansion this year to North America, Europe and Australia and New Zealand Will do in 25 other cities.
If the company achieves its target, by the end of 2021, Lime’s bike-share service will be operational in 50 cities around the world.
The latest generation e-bike, internally known as 6.0, is a Swappable battery that is interchangeable with Lime’s latest scooter. Additional upgrades to the e-bike include increased motor power, a phone holder, a new handlebar display, an electric lock that replaces the prior generation cable lock and an automatic two-speed transmission. The new bikes are expected to launch and scale this summer.
The hardware upgrade takes away from 5.8, a bike developed by Jump that should have been deployed in 2020. This never happened on a large scale as Uber, which owned the jump, licked the unit as part of the complex. $ 170 million investment round Announced in May.
“Jump made great hardware”, Lime president Joe Krauss said in a recent interview. “And we’ve made a few more improvements to the top with the new bike.”
Kruse said that hardware upgrades and expansions were funded from their own operational funds, not for new financing from outside investors. Funding was possible According to the company, Lime achieved profitability in its first full quarter in 2020.
“We’ve found out how to be profitable and we’re funding it,” Kruse said.
Kamas said that lime not only added a new motor to the bike, but also made it a place with the aim of making it easier to handle low speed and enough power to climb hills. Crappus said the swappable battery was the most significant upgrade directly connected to its drive for profit.
“When our operations teams are roaming the city, they can take care of the fleet of bikes and scooters, which allows us to operate profitably and continue to have a cheaper price,” he said.
Lime’s investment in its eBike operation comes a month after it announced plans to add an electric moped to its micro-platform platform, as the startup aimed to travel the inner city five miles from the jaunt to the corner store Is intended for long trips. Lime is launching the effort by deploying 600 electric mopeds on its platform in Washington DC this spring. The company is working with officials to run the moped in Paris. Eventually, the moped will be introduced in “a handful of cities” over the next several months.
“This idea of how to travel five miles within a city is part of serving more, why we continue to do multi modality,” Kraus said. “When we add a new modality like a bike to a scooter city, or when we add a scooter to a bike city, both modalities go up in use.”