CHICAGO, Nov. 20, 2019 /PRNewswire/ -- As the top innovator in the fast-paced shared e-scooter industry, VeoRide marks another market leading first today as it unveils the longest lasting and least expensive to produce e-scooters ever built using magnesium alloy. Advanced manufacturing technology has made it possible to mass produce these highly durable next generation e-scooters.
Most shared electric scooters nowadays are made of aluminum alloy or stainless steel. By leveraging cutting edge proprietary production technology, VeoRide is now able to use magnesium alloy which has 30% higher strength-to-weight ratio to create e-scooters that are at once both lighter and stronger.
Today's breakthrough means VeoRide e-scooters now have a lifespan five times greater than the industry "standard" of three months in the field. This reduces waste and landfill - better aligning with cities' sustainability objectives and goals. By reducing the cost of a scooter, the company has also improved scooter unit economics, a foundation necessary to sustain a hyper-growth business model.
"We are thrilled to have once again cracked the code on solving more of the biggest challenges facing our industry, in this case the issue of sustainability in terms of both environmental concerns and unit economics," said VeoRide President, Edwin Tan. "Our next generation e-scooters with bodies made of magnesium alloy are the most ruggedized, sustainable, and cost-effective models in existence. This enables VeoRide to truly walk the walk when it comes to delivering on our mission of lowering the carbon footprints of cities across the globe."
Magnesium alloy is typically used in aerospace applications and scenarios where weight is an issue, but material strength is called for. It is difficult to produce mass quantities of precision products because of the complex heat condition required to mold magnesium alloy, making today's announcement from VeoRide a truly revolutionary advancement.
Headquartered in Chicago, VeoRide, is one of the micromobility industry's most innovative and fastest growing companies. With its unique e-swappable-battery technology which enables safe charging, the company designs and manufactures e-scooters specifically built for the rigors of shared use. VeoRide e-scooters lead the industry in terms of lifetime sustainability, and are also widely recognized as the most comfortable and safe to ride. VeoRide has dozens of cities nationwide as partners in its mobility share programs, and is adding additional municipalities and universities every month. For more information, please visit http://www.veoride.com