LONDON (ShareCast) - (Sharecast News) - Lime announced on Monday a $50m plan to expand into 25 new cities in 2021 and to invest in developing a new ebike.

The expansion will cover North America, Europe, Australia and New Zealand and if the company hits its goal the service will be operational in 50 cities globally by the end of 2021.

The company has also developed its latest generation e-bike, known internally as 6.0, which has a swappable battery that is interchangeable with Lime's newest scooter.

The new bikes are expected to launch and scale this summer. Deployment had originally been planned for 2020 but the rollout was delayed.

Lime's investment in its ebike operation comes a month after it announced plans to add electric mopeds to its micro mobility platform.

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