Micromobility turns a corner as e-scooter startups like Beam become profitable

Article summary

Bike-sharing companies had a wild ride in Asia. Does micromobility still have a place in cities in the wake of bike-sharing’s demise? […] For instance, US-headquartered Lime underwent a painful layoff in April as Covid-19 put a pause on its operations in 99% of its markets. […] According to Jiang, South Korea was the biggest growth market of its business in the third quarter of this year. […] Our view is that in 10 years, micromobility vehicles are going to be more populous in cities than cars.”

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