Lime ispartneringwith Redwood Materials to recycle batteries from its fleet of shared electric bikes and scooters.
Among other things, Lime brought hardware development in-house and made its scooters and bikes significantly more durable.
It also raised prices on rides to the chagrin of customers.
Lime will partner with Redwood Materials to recycle batteries from its electric bikes and scooters.Lime
Lime is rumored to beheading for an IPOafter posting 30% growth in bookings for 2024.
The deal with Redwood makes a lot of sense.
But those claims were somewhat undermined by pictures spread online of scooters littering streets and winding up in rivers.
Lime says it agreed to a deal because it was impressed by Redwoods high recovery rate.
Redwood does not make batteries itself, but sends recovered materials to the likes of Panasonic and LG.
We recycled 20 gigawatt-hours worth of material just in 2024, a spokesperson toldThe Verge.
Thats enough to produce another 250,000 EVs.
News from the future, delivered to your present.
Three passengers were killed after a Xiaomi SU7 operating in driver assistance mode hit a concrete barrier.
