Lyft will end e-scooter operations in 6 cities and lay off around 20 staff members - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 46 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 51%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Lyft is reallocating its resources after a $464 million net loss in Q3 2019:

the use of e-scooters and electric bikes between 9 p.m. and 4 a.m. following several fatal nighttime accidents.

Not every market is right for e-scooters or dockless bikes, which can lead to poor unit economics. For instance, suburban or rural areas could limit the number of rides made using a scooter each day, as distances between locations are farther, likely requiring units to be recharged, serviced, or relocated more often. Additionally, operating scooters in markets with harsh climates, like severe cold, can increase the wear and tear on a scooter or bike and even limit their use to certain seasons.

Automakers interested in microbolility should take heed of companies like Lyft reallocating their resources. Micromobility is attractive to automakers because it enables them to drive revenue from consumers who may not be able or want to own a car. In July 2019, US automaker Ford it would expand the presence of its e-scooter company, called Spin, with 15,000 new scooters in eight cities.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

World Elite Mastercards add discounts with Lyft, Postmates, and more - Business InsiderIf you have the Citi Prestige or another World Elite Mastercard, you can now get discounts with Lyft, Postmates, and more
Source: BusinessInsider - 🏆 729. / 51 Read more »