Lime: Proving that shared electric vehicles can pave the way for sustainability and profitability

Featuring

Cities and Built Environment Transport

By The Climate Pledge

/
Lime has grown while reducing carbon emissions, proving that sustainability can be profitable.

“To have a fighting chance against climate change, we need sustainable businesses that can scale. Profits are the lifeblood that allow a company to exist, to reinvest, and have a long-lasting impact.”

Andrew Savage

Vice President of Sustainability and Founding Team, Lime

By the numbers: 

- 280: the number of cities with Lime e-scooters

- 600 million: the number of zero-emission rides taken around the world 

- 55 million kilograms: the amount of carbon emissions avoided thanks to riders

- 59.5%: how much Lime has reduced its carbon emission intensity since 2019

The founders of Lime knew our current modes of transportation weren’t good enough for an increasingly urban world. So when they launched Lime, it was with a mission to change how billions of people get around cities every day. By reducing car travel and making shared, affordable, and carbon-free commuting options, Lime is contributing to cleaner air and smaller carbon footprints for city dwellers. Each e-scooter trip saved an average of 26.4 grams of carbon dioxide for each kilometer ridden.

Five years and five continents after its founding, the company achieved a critical milestone: Lime reported $15 million in profits on an adjusted EBITDA basis for 2022. For 2023, Lime grew its business by over 30% and adjusted EBITDA growth of over 500% while cutting absolute emissions by 16.3% over the same period. It was further proof that a strong sustainability agenda is good for business.

A part of how it got there? Designing e-bikes and e-scooters in-house to last longer, be more repairable, and be more efficient. The company cut carbon emission intensity by over 37% while sustaining profitability and Lime recently announced that it cut its carbon emissions by 59.5% since 2019..

Lime believes its success should be a rallying cry for other businesses: Boldly reimagining how we live our lives amid climate change can be profitable. “We achieved positive adjusted EBITDA because of our focus on sustainability,” Savage says, “not despite it.”