Uber will soon rent electric scooters

Lime electric scooters

It’s been announced that Uber will be teaming up with electric scooter rental company Lime to add a new type of transport to its existing offering.

Lime, which was founded by ex-Uber executive Travis VanderZanden, is currently growing at a rapid pace and just completed a $335 million financing round led by Alphabet Inc., valuing the business at $1.1 billion.

The deal between Lime and Uber is yet to be finalised, but expect to see the scooter company promoted in the Uber app soon. A similar move was made by Uber with an electric bike startup called Jump Bikes, which it later went on to acquire for over $100 million this April. According to Uber, the e-bikes will be rolling out to cities across the globe in the near future.

Uber Technologies Inc. is investing in Lime as part of a $335 million financing round, the companies plan to announce on Monday. The deal, led by Alphabet Inc.’s venture arm GV, values the scooter business at $1.1 billion.

While details of the partnership are still being finalized, Uber plans to promote Lime in its mobile application and slap its logo on the scooters, executives from the two companies said. Uber took a similar step with a startup called Jump Bikes, which rents electric bicycles, before acquiring the business for more than $100 million in April. Uber said it still plans to roll out e-bikes in more cities around the world.

Both the e-bikes and Lime scooter service will work much like the existing Ofo bikes in London, which you can pick up off the street all across the city and leave for the next person wherever you want.

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