- Helbiz Inc HLBZ plans to retrofit its fleet of e-scooters with lock-to technology to meet the new regulations required by Washington D.C.
- Helbiz will initially roll out the integration in Washington D.C., with plans to expand into other markets.
- The Helbiz app will activate lock-to once the ride is completed and ask users to take a photo of the device to confirm it was parked and locked properly.
- The legislation will go into effect on October 1st to reduce e-scooter clutter on sidewalks and streets.
- By monitoring the location of each parked e-scooter, the new regulation will ensure devices are available in all areas of the city.
- Price Action: HLBZ shares are trading lower by 1.21% at $12.67 on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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