The last mile: It's not about the hardware

WITH armies of gaudy, primary-coloured e-bikes and e-scooters, the micromobility industry is conquering our towns and cities. The first docked bike-sharing program was launched in Hangzhou, China, in 2008, and similar programs are operating in every region of the world today. Although the industry took a hit during Covid-19 (with giants like Lime and Bird laying off significant numbers of staff) it has since rebounded. McKinsey predicts it could be worth $300–500bn by the end of the decade.