Lime’s Path to Profitability, AV Frameworks & EV SPAC Trends
Welcome to this week’s transportation industry roundup, where we analyze key developments shaping the future of mobility. From micromobility rebounds to autonomous vehicle regulations and electric vehicle SPACs, here’s what you need to know.
Micromobility’s COVID-19 Recovery
While COVID-19 initially devastated micromobility companies, Lime now reports a significant turnaround. The company achieved several financial milestones:
- Cash flow positive in Q3 2020 (first time)
- EBIT positive (excluding share-based compensation)
- Projected full-year profitability for 2021 (EBIT basis)
Lime’s Product Developments
The company recently launched its fourth-generation scooter in Paris, featuring:
- 2+ year lifespan
- Improved durability from Uber’s Jump technology
- Parts compatibility with existing Lime fleet
Lime also hinted at expanding beyond bikes and scooters with a “third mode” coming in Q1 2021 and potential platform partnerships.
European Cities Embrace Micromobility
Paris, Barcelona, London, and Milan are implementing innovative urban policies:
- Paris: Creating “15-minute cities”
- Barcelona: Developing “superblocks” (pedestrian-focused zones)
- London & Milan: Expanding cycling infrastructure
Other Micromobility Updates
- Voi: Implementing AI-powered sidewalk detection
- Zipp Mobility: Launching UK pilot program
EV SPAC Boom Continues: Arrival Goes Public
Arrival, the UK electric vehicle startup, joined the SPAC trend through a merger with CIIG Merger Corp. Key details:
- Valuation: Up to $5.4 billion
- Funding: $660 million total cash proceeds
- Technology: Modular “skateboard” platform + microfactories
- Production Timeline:
- Buses: Q4 2021
- Vans: 2022
Other Notable Deals
- Electric Last Mile Solutions: Potential SPAC merger
- Fenix: $3.8M seed round for Middle East micromobility
- Forto: $50M for digital freight forwarding
- Loadsmart: $90M Series C for logistics platform
Autonomous Vehicle Regulatory Developments
The NHTSA released an advanced notice of proposed rule-making that includes:
- Safety evaluation framework for AVs
- Reference to UL 4600 safety standard
- Potential impact on future AV deployments
AV Industry Updates
- Motional: Approved for driverless testing in Nevada
- Luminar: Mobileye partnership for lidar supply
- GM: Increased AV/EV budget to $27B through 2025
Election Day Mobility Trends
Micromobility played a significant role in voter transportation:
- Spin: 31.45% ridership increase on Election Day
- Lime: 20% of US trips used poll-access promotion
- Top Cities: Chicago (243% increase), Cleveland (193%)
Key Takeaways
- Micromobility shows strong post-COVID recovery signs
- EV startups continue favoring SPAC mergers for going public
- Regulatory frameworks for AVs are taking shape
- Urban mobility policies are rapidly evolving worldwide
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