PRESS: Lime joins UK government’s cycle-to-work scheme via CycleSaver, helping employees save up to 47% on Lime bike commutes

[London, 01 July 2024] 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.

Kaan Tas, General Manager for Lime in London, said “We are delighted that Lime is now more affordable than ever for commuters via the cycle-to-work scheme and our partnership with CycleSaver. It’s important that businesses offer discounts on rental e-bikes as well as personal bikes as they look to encourage even more sustainable and active adoption amongst their employees.” The savings available to employees are substantial, and we hope companies and employees that are signed up to the UK’s cycle to work scheme take advantage of this.”

“The partnership comes as cycling in London is booming – last year, the number of daily cycle journeys hit an estimated 1.26 million per day. Lime data shows demand for rental e-bikes is also growing, with an inner London borough like Camden now recording approximately 200,000 Lime rides per month,” Tas added.

Benefits of cycle-to-work

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 these savings, a 30-minute Lime e-bike ride now costs as low as £1.30.

There are currently two bundles available: a 500-minute and a 1000-minute per month, both offered as flexible monthly subscriptions via CycleSaver. The benefit will be available in London, Nottingham, Derby and Milton Keynes across Lime’s e-bike services.

“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” said Dino Bertolis, CEO of CycleSaver.

How it works

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 information about this partnership, please visit www.cyclesaver.co.uk/lime.