Lime expands its scooter subscription service to include daily and monthly passes
Published on: 2020-06-20 08:32:57 | Category: Vehicle | By: admin
Lime is extending its LimePass subscription service to include every day and monthly passes. It's the scooter company's attempt to lock consumers in a market with nearly identical products and pricing schemes over time.
LimePass subscribers will hire one of Lime's electric scooters at a nominal flat fee for a whole day or a whole month. Daily passes provide riders with 24-hour access to unlimited 30-minute trips, while a monthly pass would provide a fixed number of regular trips, each for up to 30 minutes.
Pricing will vary by market, but a screenshot suggests it will cost around $14.99 a day pass. A monthly pass for five rides a day will cost $16.99, or $29.99 for 10 rides a day. Lime also provides an unlock pass that waives the unlock fee for renting electric scooters at the service.
The expanded subscription service comes at a time when the novel coronavirus has brought financial failure to the brink of the shared scooter and bike market. Demand has evaporated, companies lay off staff en masse, and their previously sky-high valuations have nearly been wiped out. The scooter industry is looking at the end times, rather than basking in the sun and delighting in the reduced car traffic.
Since the start of the year, Lime has laid off almost 200 full-time workers. More recently, Lime acquired the money-losing shared bike and scooter division Jump from Uber as part of an investment that would see the valuation of Lime fall by nearly 80 percent.
Tech companies of all stripes view subscriptions as the best way to lock in fair-weather consumers over time. For a company like Lime, which struggles to differentiate itself from its nearly identical rivals, the appeal of a subscription plan is especially strong. It's coming at a time when scooter-sharing venture capital investment has almost dried up as the unit economics of the companies were slow to improve.
The extended LimePass will be available in cities across the US, Europe, Asia , the Middle East and New Zealand beginning today, with rollouts planned for late June in remaining global markets.