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Uber To Increase Investments In Electric Bikes, Scooters In Europe

Uber To Increase Investments In Electric Bikes, Scooters In Europe

Uber Technologies, Inc (NYSE: UBER) could “double down” on its investment in electric bikes and scooters next year, especially in the European markets, according to CNBC.

What Happened

Inspired by the speedy adoption of bikes and scooters in Europe in the past eight months, Uber is planning to increase its investment on them, with a particular focus on Europe.

The ride-sharing company purchased the bike-sharing service Jump in April 2018, after testing the service for some months in San Francisco. Since then, Jump launched Uber’s two-wheelers in major cities across the globe, but mostly in European cities, which in a way helped Uber bet on growth in the so-called “micromobility” space. 

“We want to double down on micromobility,” said Jump’s head of EMEA Christian Freese to CNBC.

“We have seen how beautifully it works with our core business and ride-sharing, and want to invest more and deeper, especially in Europe.”

Why It Matters

Jump’s bikes and scooters have seen faster adoption in Europe than in the U.S. over the past eight months, claimed the ride-sharing service provider. Around 500,000 Europeans rode the vehicles in the last eight months alone, racking up 5 million trips in total, according to CNBC.

What’s Next

Uber said its main focus in Europe would be to increase sales in existing markets like London. The company already launched Jump bikes in London in May. The city is already awash with bike-rental schemes, but Uber said it has plans to reach out to other markers there. The company could launch Jump bikes in the London borough of Hackney in 2020, after the launch of e-bikes in Islington and Camden, according to CNBC. Uber is also working on launching the Jump bikes in Paris, Sacramento, and Seattle.

Posted-In: News Best of Benzinga


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