Lime is getting back to its roots. The scooter company formerly known as LimeBike says it will invest $50 million to grow its shared electric bicycle network, including adding a new model of bike and doubling the number of cities in which it operates.
Lime got its start with shared bikes, only to quickly pivot after Bird first introduced the concept of dockless electric scooters in 2017. The company dropped the “bike” from its name and started phasing out its bikes in 2019. But the following year, Lime acquired bike-share company Jump from Uber, and suddenly, bikes were back on the menu.
Now, the company is doubling down on shared electric bikes, with plans to launch in “a dozen” new cities in North…
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Author: Andrew J. Hawkins