🛢 Micromobility Is Nuking Oil Demand

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What You Need to Know Today

The world’s 280M electric two and three wheelers are cutting demand for oil by 1M barrels a day, or roughly 1% of the world’s total oil demand. Put another way, micromobility vehicles are displacing four times as much demand for oil as all the electric cars in the world.

After recently banning scooter rentals, Paris Mayor Anne Hidalgo’s latest proposal would increase SUV parking fees, a move that would likely push a majority of the vehicles out of the city.

New York City Mayor Eric Adams announced a new plan to turn the Hudson River into a “marine highway.” The plan would see the expansion of both aerial and maritime delivery to Manhattan’s piers, where goods would be dropped off, staged, then picked up by a fleet of electric cargo bikes for last-mile delivery.

Following another deadly fire in New York City caused by gray-market scooter batteries, FDNY Commissioner Laura Kavanagh had harsh words for companies that allow these unsafe devices to proliferate: “Retailers like Amazon and Walmart need to stop selling devices that are not safety certified by a national testing laboratory, and food service apps like Grubhub and UberEats need to do more to ensure the safety of their workers who depend on these bikes to make a living,”

Made in America micromobility? The founders of Propel Bikes and Vela Bikes announced the creation of a new vertically-integrated contract manufacturer, which will assemble and service lightweight electric vehicles in Detroit.

Upway, a French startup that refurbishes and resells used ebikes, raised $30M at a higher valuation. The company recently launched in the U.S. and plans on using its funding to expand its operations and fulfill deliveries coast to coast.

Lime says it is profitable in Europe. In Q3 2023, the scooter-sharing service generated €121.8M in ride revenues, plus €12.2M in other income, resulting in an operating profit of €3M.

On the other hand, in Q3 2023, shared micromobility operator Bird Global generated $54.3M in revenue and posted a net loss of $19.8M. The company continues to battle with high general and administrative expenses, which totaled $31.39M for the quarter.

CLIP, creator of the innovative device that turns a regular bike into an ebike, just closed a $2.8M seed round and announced its partnership with Indian EV manufacturer Motovolt Mobility, with the goal of rapidly scaling operations. (Longtime readers may remember Clip as the winner of the Best Startup Award at Micromobility Europe 2023!)

Vehicle leasing company Arval has launched the Arval Mobility Pass, an app and management portal that offers employees access to mobility services like parking, public transport, shared mobility, and taxi services. The pass also gives employers the ability to control mobility choices at work and enact policies.

Did you know that the shape of the front end of a car corresponds to fatality risk? Research from the Insurance Institute for Highway Safety shows that tall front ends are the most dangerous for pedestrians. “Whatever their nose shape, pickups, SUVs and vans with a hood height greater than 40 inches are about 45 percent more likely to cause fatalities in pedestrian crashes than cars and other vehicles with a hood height of 30 inches or less and a sloping profile.”

According to a new report from global management consultancy firm Oliver Wyman, the global shared mobility market is projected to be valued at $401B by 2030 with shared mobility accounting for 7% of all urban journeys. Most of the growth is expected to take place in Asia.

Transportation data and analytics provider INRIX announced its intent to acquire Ride Report. The shared mobility data company from Portland, Oregon is an industry leader whose micromobility vehicle data would fully round out and aid INRIX’s platform in servicing cities with mobility solutions.

Mobility management platform Populus announced its partnership with the City of Stockholm. Populus will utilize data from the Swedish capital city’s many shared mobility operators to inform policy.

Can WFH have a positive impact on cycling (and by extension, e-cycling) rates? A new study from New Jersey says yes. After lockdown, “20% of COVID teleworkers increased their private bicycle usage, compared to 13% of non-teleworkers.”

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