Lime has become the ‘first’ new mobility company to reach cash-flow positive for a full quarter.
It has also reached EBIT positive at the company level over the summer and is ‘on track’ to be profitable as a company for all of 2021.
“This is a major step forward, not just for Lime, but for the cities and riders we serve around the world because it proves that operating shared, electric, car-alternative mobility options can be a sustainable service over the long-term,” said a statement.
“It’s validation that e-bikes, scooters and other light electric vehicles aren’t just a passing fad, but further a fundamental shift away from personal car use.”
Lime is using this milestone to ‘double down’ on the next generation of vehicles to help people make any trip under five miles. It has launched its Gen4 scooter in Paris and is set to launch a new third mode in the first quarter of 2021.
“Our current financial strength allows us to reinvest in our latest generation of e-scooters, the Gen4,” the company continued. “Our goal with this new model is to provide the smoothest, safest and most sustainable Lime scooter ride in our history, and to have it immediately become the industry’s leading scooter model thanks to its intelligent and innovative design.
“We expect it to far surpass the more-than two-year lifespan of the Gen3 and rival any available shared scooter in durability, safety and sustainability.”
The Gen4 will be rolled out across Europe in early 2021.