Uber Technologies Inc. (NYSE: UBER) Turns Attention to Growing E-Bike Popularity Amid Pandemic Response
Uber Technologies is a decade into upending transportation models with its ride-sharing solutions operating in 67 countries, but has suffered the common difficulties stemming from this year’s global spread of the COVID-19 pandemic The company announced recently that it will transfer its electric bike and scooter division to Lime, a similar e-bike company in which Uber has held a minority interest The Lime transfer arrangement makes Uber the leading partner in a new $170 million financing drive by Lime, and opens the door to the possibility of Uber buying Lime in the near future at a specified price The agreement…