Bird announces new scooter and IPO

Bird has presented its new electric pedal scooter and plans to go public in the United States. The two major projects are to be implemented in parallel during the summer.

Bird’s newest vehicle addition, the “Bird Three,” was developed specifically for the car-sharing industry and is said to have a significant improvement in durability. Thanks to the increased range (which is not quantified in the ad), more trips can be made on a single battery charge. The vehicle will therefore have to be collected and recharged less frequently.

However, the biggest lever for increased durability is not the reach, but the lifespan. With a more robust design, damage to vehicles would have been reduced by almost 400%. Bird, however, does not name the database for this decrease, so it can only be a smaller test fleet. Indeed, the actual test phase of the third generation electric scooter will start first in Berlin and Tel Aviv. From the summer, the new vehicles will be introduced worldwide.

Bird also plans to go public on the New York Stock Exchange from the third quarter of 2021 through a merger with Switchback II Corporation. Switchback is a SPAC, that is, an already listed company that was founded precisely for the purpose of merging with another company. A regular IPO can take several years in the United States, but merging with an already listed company has become a popular shortcut – not just in the eMobility industry.

In March, Bird announced that it would invest 125 million euros to expand its services in Europe, doubling its presence there in the spring and summer by launching in 50 cities and expanding its services in existing cities.

prnewswire.com (Bird 3), bird.co (IPO, PDF)


Source link

About Stefany Edmondson

Check Also

Lime will leave town as Neuron goes off

Lime scooters will no longer be in Dunedin, for now. The company announced today that …

Leave a Reply

Your email address will not be published. Required fields are marked *