Latest News

B.C. helps power Lime’s global record setting 2023

By Richmond Sentinel

Published 12:46 PDT, Mon April 8, 2024

Last Updated: 12:47 PDT, Mon April 8, 2024

Lime, a global provider of shared electric services vehicles, achieved a consecutive record year in gross bookings, Adjusted EBITDA and total rides, building on Lime’s record-setting 2022. This year reflected Lime’s continued leadership in the shared electric vehicle industry and positions it for long-term sustainability.

Lime provides shared e-bikes and e-scooters in 280 cities in nearly 30 countries as it continues its mission to decarbonize transportation globally and serve as an alternative to car trips. Lime looks forward to building on this success by continuing to invest in its services in British Columbia, where it has operated since 2021 and sees great potential for micromobility.

Lime currently operates shared electric vehicles in Richmond, Coquitlam, the North Shore, and Kelowna and is proud to see ridership continue to grow in each of these markets. 

Lime's global success  and optimistic outlook for the future is powered by places like British Columbia. With its increasing adoption of  micromobility, British Columbia offers immense  potential for shared electric vehicles to help municipalities achieve their climate and transportation goals.

Investments in infrastructure like bike lanes and bike parking allow shared e-bikes and e-scooters to thrive. Last year was Lime's best ridership year ever in the Lower Mainland with ridership increasing by 58 per cent from 2022 to 2023 in Richmond, Coquitlam and on the North Shore combined.

Nearly 49,000 Lower Mainland riders took over 185,000 Lime rides in 2023, an increase of 58 per cent more rides and 37 per cent more riders compared to 2022.

Kelowna also shows the potential for shared micromobility in British Columbia as it approaches the 1 million ride milestone due to skyrocketing growth. In 2023 78,000 Kelowna riders took over 555,000 trips on Lime e-bikes and e-scooters in Kelowna, marking a 190 per cent increase in rides and a 67 per cent increase in riders compared to 2022.

Lime believes the sky's the limit for micromobility in Canada, in British Columbia, and in the Greater Vancouver area and hopes to keep on building lasting partnerships with municipalities in the Lower Mainland, throughout the province, and across the country. 

"Lime is proud and grateful to be the shared electric vehicle operator of choice for Kelowna and much of the Lower Mainland. We believe we have much to offer municipalities in the Greater Vancouver area and throughout British Columbia, and our financial stability enables us to make robust investments to build lasting, successful micromobility programs in this region.

Riders love shared electric scooters and bikes because they are safe, affordable, convenient, and sustainable, and cities around the world are growing to love them because they have been proven to help meet climate and transportation goals. We look forward to building on the success we've had so far in BC and becoming part of the transit networks of more cities and municipalities in the years to come," said Sonia Kandola, director of government relations.  

Key global 2023 highlights include:

  • Gross Bookings record of $616 million, a 32 per cent increase over 2022
  •  Full-year positive EBITDA, and Adjusted EBITDA in excess of $90 million, a more-than 500 per cent increase over 2022 
  •  Completed a record 156 million trips in 2023 (about 5 trips every second for the entire year), while surpassing 500 million lifetime trips
  •  More than 42 cities saw trips double year over year
  • 9.2 million new riders took their first Lime ride in 2023, 
  • Over 3.1 million monthly riders active on average, with a peak surpassing 4.3 million in July
  •  Won over 90 per cent of competitive permits

"Last year marked a watershed moment for Lime and the shared electric vehicle industry," said Wayne Ting, chief executive officer of Lime. "We achieved significant growth in our gross bookings and Adjusted EBITDA.

This is a strong affirmation that our team is building a resilient business capable of achieving our long-term mission. More riders took more rides on our e-bikes and e-scooters than ever before. I'm also heartened by cities' who continue to embrace  our zero-emission, two wheeled transportation options as solutions to poor air quality, crippling congestion, inequitable transit services and the existential threat of climate change.

On the heels of another record setting year, Lime is poised to continue our growth in 2024, with new vehicle options and plans for expansion to new cities."

Lime achieved this breakthrough as a result of its vertically-integrated approach across three key areas: hardware development, software-enabled operations and local government relations.

Keeping these core functions in-house enables Lime to deliver a differentiated experience for its riders and city partners. The outcome is a reliable, convenient and comparatively-affordable transportation service.

Lime's ability to drive significant financial growth is a major step forward in achieving its mission to build a future where transportation is shared, affordable and carbon-free.

As Lime continues to prove the viability of operating shared bikes and scooters as a business, this milestone unlocks opportunities to consider what comes next. To continue toward its mission in 2024, Lime plans to explore new cities and business lines, expand AI-integrations into its business, launch a new vehicle type, and deepen its presence in existing cities.

See more canada news

See All

See more international news

  See All
© 2024 Richmond Sentinel News Inc. All rights reserved. Designed by Intelli Management Group Inc.