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Lime presented a new electric bike and will invest $ 50 million in the development of their rental service
Lime returns to its roots. Electric scooter company, formerly known as LimeBike, said it is investing $ 50 million to expand its network of rented electric bikes. The company also introduced a new bike model and announced that it will double the number of cities where its service is available.
LimeBike started out with rental bicycles but quickly changed the structure of the business after Bird first introduced the concept of electric scooters without a docking station in 20021. As a result, LimeBike abandoned the word «bike» in its name and in 2021 began to gradually move away from bicycles. But last year, Lime bought the bike rental company Jump from Uber, and eventually went back to where it started.
The company is now stepping up its activity in promoting electric rental bicycles, with plans to launch them in a dozen new cities in North America by the end of the year, as well as in dozens more cities in Europe and other markets. In total, the company plans to roll out its electric bike rental networks in 50 new cities by early 2022, which will roughly quadruple its fleet.
The said $ 50 million investment will go towards the design, manufacture and assembly of the next generation bicycle, which will begin production this summer. The new model will be equipped with a more powerful 350 W motor and a replaceable battery capable of providing a range of up to 40 km.
The battery used in the bike will be interchangeable with the batteries that power the Lime Gen4 electric scooters, providing standardized charging. A two-speed derailleur helps when climbing hills, and an integrated electronically controlled hub lock helps protect against theft and vandalism.
There are other new features on the bike: there is a phone holder in the front basket, and the bike can reach speeds of up to 32 km / h (depending on local regulations). It weighs 32kg — slightly heavier than Citi’s 29kg electric bikes.
At the same time, Lime will keep its cherry-red Jump bikes in service and does not plan to abandon them in favor of new e-bikes of its own brand. The company said it wants to be a multimodal supplier of various types of low-speed electric vehicles. Last year, Lime added Wheels pedalless e-bikes to its multi-city app as part of an initiative to integrate third-party urban mobility providers. And recently announced plans to introduce electric mopeds in Paris and Washington.
New investment in e-bikes comes as cycling grows in popularity around the world and sales of bicycles, especially e-bikes, hit record highs. U.S. law passed to make e-bikes more affordable. And bike rental systems are adding more electric models to their fleet in hopes of attracting more users. Lime said it had more than 2.5 million e-bike rides last year, and the company expects that number to grow significantly in 2021.