XM does not provide services to residents of the United States of America.

Madrid to ban e-scooters for reckless driving and chaotic parking



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>Madrid to ban e-scooters for reckless driving and chaotic parking</title></head><body>

MADRID, Sept 5 (Reuters) -Madrid will ban e-scooters rented through mobile apps after the city's three licensed operators failed to implement limits on their clients' circulation or control their parking, Mayor Jose Luis Martinez-Almeida said in a statement.

Martinez-Almeida said the licenses of Lime, Dott and Tier Mobility would be cancelled from October and that the city has no plans to grant new licenses to any other operators.

"The market was found to be incapable of meeting the requirements set by the mayor's office to ensure the highest level of safety for citizens," he said in a statement on Thursday.

The so-called scooter sharing system has raised opposition in cities around the world due to reckless driving by users on streets and sidewalks and haphazard parking that often leaves public spaces cluttered.

Since May 2023, the Madrid city council had regulated the rental e-scooter market, only authorising Amsterdam-based Dott, Germany's Tier Mobility and U.S.-based Lime, whose scooters are available on Uber's UBER.N app.

They were authorised to rent 2,000 scooters each.

The three operators were supposed to give the mayor's office access to its data and were ordered to implement technology forcing their customers to leave the scooters only in authorised areas and preventing them from hiring them in pedestrian-only streets or near historic parks.

They failed to meet those conditions, the statement said, adding that they have 20 days to appeal.

Dott, Lime and Tier did not immediately respond to requests for comment.

Madrid follows in the footsteps of Paris, which last year banned e-scooter rentals following a public consultation.



Reporting by Inti Landauro; editing by Charlie Devereux and Sharon Singleton

</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.