Lime is launching its fourth generation scooter in Paris this week, an example the company says of its financial breakthrough and commitment to growth. But the product launch isn't over.
Lime CEO Wayne Ting hinted at the WSJ Future of Everything event Thursday that a "third mode", besides bikes and scooters, is also in the works for the first quarter of 2021, as well as the addition of third-party companies. to its platform. Earlier this year, Lime started including Wheels-branded electric bikes in some cities in its app. Ting said users should expect more partnerships like these.
Ting gave no details on this "third mode" other than to explain that it will likely take a slightly longer distance than his scooters and will be better at carrying cargo.
"We want to make sure it continues to attract diverse demographics that you may not see on a scooter," added Ting.
For now, Lime is focused on implementing the Gen4, a model that Ting says will outlast its previous generation's more than two-year lifespan. Gen4 will launch across Europe in early 2021.
The Gen 4 features set-back handlebars similar to the bike handle design, which Lime says allows for a more comfortable grip. The new model also has an enhanced suspension and larger wheels, a double handbrake system, a lower skirting board to optimize the scooter's center of gravity and a new two-legged kickstand.
Perhaps the biggest change is the addition of a replaceable battery, which Ting described as a "huge improvement over existing technology." These replaceable batteries will be interchangeable with Lime's fleet of bicycles, further simplifying its operations, the company said Thursday.
Lime said Thursday that operating cash flow was positive and free cash flow positive in the third quarter - the first - and is on track to be profitable for the full year, excluding some costs (EBIT), in 2021. This breakthrough will allow the company to continue to invest in product development and expand its footprint, according to Ting.
Source link
