Lime – the world’s largest provider of shared electric bikes and scooters – has joined the UK’s government backed cycle-to-work scheme through a partnership with specialist provider CycleSaver.
CycleSaver’s government backed cycle-to-work scheme will allow employees to benefit from 28% and 47% savings on monthly minute bundles with Lime through the tax benefits of salary sacrifice. With the savings a 30-minute Lime e-bike ride could cost as little as £1.30.
There are currently two bundles available: 500-minutes per month and 1000-minutes per month, both offered as flexible monthly subscriptions via CycleSaver. The benefit will be available in London, Nottingham and Milton Keynes across Lime’s e-bike services only.
The partnership comes as cycling in UK cities like London is booming – last year, the number of daily cycle journeys hit an estimated 1.26 million per day in the Capital. In May 2024, 52% of Lime trips in London occurred during peak commute hours.
Hal Stevenson, Director of Policy for Lime UKI, said: “Lime is now more affordable than ever for commuters via our new cycle-to-work scheme and partnership with CycleSaver. Tens of thousands of people are already using Lime to commute every morning, so we hope companies and employees that are signed up to the UK’s cycle to work scheme take advantage of this. Offering a scheme that has discounts for both rental e-bikes as well as personal bikes is a great way for businesses to encourage more sustainable and active travel adoption by their employees.”
Dino Bertolis, CEO of CycleSaver, added: “CycleSaver’s cycle-to-work scheme caters specifically for the increasing number of individuals opting to use bike sharing schemes like Lime rather than owning a bike. The success of Lime is a testament to its fantastic product and changing habits of commuters. We believe the savings offered through our cycle-to-work scheme will attract even more regular users.”
CycleSaver’s cycle-to-work scheme operates exactly like a regular cycle-to-work scheme except the employees are given the ability to purchase a bike subscription, rather than a bicycle of their own. The costs of the subscription are deducted from their pre-tax (gross) salary, a process known as ‘salary sacrifice’.
Companies that are not already signed-up to the cycle to work scheme or CycleSaver will need to do so in order for their employees to claim the benefit. Companies can sign-up at no cost, and will benefit from a reduction in employer National Insurance Tax for every cycle-to-work product taken out by its employees.
For more news like this, click here
