Chicago electric scooter and bike company VeoRide is ready to launch a new shared electric vehicle to the public that the company says is easier to ride than a bike and simpler to use than a moped.
VeoRide announced Wednesday the launch of its Veo Cosmo, a "first of its kind" seated electric vehicle that's designed for short, shared-use trips similar to its electric scooters and bikes.
The Veo Cosmo is a two-wheeled, seated transportation device that resembles a moped. It has an aluminum alloy frame, front suspension and puncture-resistant tires. The end result is a "futuristic vehicle" that holds up better in inclement weather and unpredictable road conditions, the company says.
As the popularity of shared electric scooters and bikes grows in cities across the U.S., companies offering electric mopeds have launched to give people another last-mile transportation option. New York-based shared electric moped startup Revel, for example, has launched in several cities and raised more than $27 million from investors like Toyota AI Ventures. But VeoRide says its new vehicle is more compact and easier to use than a traditional moped and was custom-built by the company's research and development team.
"[The Veo Cosmo] represents the visionary execution of VeoRide's mission to provide universal transportation accessibility," VeoRide CEO Candice Xie said in a statement. "Our team is the first to bring to market the dream of what people and cities are looking for in terms of a new kind of sustainable, affordable, and convenient last mile transportation option."
VeoRide, founded in 2017, operates its scooters and bikes in dozens of cities and college campuses across the country. It said it plans to launch the new Veo Cosmo in "selective markets" this spring.
The Veo Cosmo is designed to comply with city speed regulations, and also includes front and back LED lights for nighttime rides, a 2,500 watt motor, and the ability to travel 40 miles on a single charge.
