Helbiz Rolls Out New Lock-To Technology For E-Scooters

Helbiz Inc (NASDAQ:HLBZ) plans to retrofit its fleet of e-scooters with lock-to technology to meet the new regulations required by Washington D.C.
Helbiz will initially roll out the integration in Washington D.C., with plans to expand into other markets.
The Helbiz app will activate lock-to once the ride is completed and ask users to take a photo of the device to confirm it was parked and locked properly.
The legislation will go into effect on October 1st to reduce e-scooter clutter on sidewalks and streets.
By monitoring the location of each parked e-scooter, the new regulation will ensure devices are available in all areas of the city.
Price Action: HLBZ shares are trading lower by 1.21% at $12.67 on the last check Friday.