The companies will work together to collect, process, and recycle the batteries from Lyft’s shared micromobility operations, which includes popular systems like Citi Bike in New York City.
Lyft is partnering with Redwood Materials, a battery recycling company founded by a former Tesla executive, to ensure its fleet of shared e-bikes and scooters have a second life.
It’s a noteworthy deal considering Lyft’s status as the largest electric bike-share operator in North America thanks to its bike-share business, including the extremely popular Citi Bike in New York City. The company claims that Citi Bike was the “25th most-ridden transit network in the United States.”