Lime says it will it will spend $50M to expand its network

Mar 01, 2021 · 1 min read
Lime says it will it will spend $50M to expand its network
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Lime is the trendy new scooter company, and they are looking to go worldwide. Going back to their roots, they will be unveiling a new model of e-bikes to go along with expanding their network.

According to TechCrunch:

Lime said Monday it has allocated $50 million towards its bike-share operation, an investment that has been used to develop a new ebike and will fund its expansion this year to another 25 cities in North America, Europe, and Australia and New Zealand.

If the company hits its goal, Lime’s bike-share service will be operational in 50 cities globally by the end of 2021.

The latest generation e-bike, known internally as 6.0, has a swappable battery that is interchangeable with Lime’s newest scooter. Additional upgrades to the e-bike include increased motor power, a phone holder, a new handlebar display, an electric lock that replaces the former generation’s cable lock and an automatic two-speed transmission. The new bikes are expected to launch and scale this summer.

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