(Bloomberg) -- Lime, the operator of a shared electric bike and scooter network backed by Uber Technologies Inc., is planning to invest more than $55 million this year to expand its global fleet.

Autonomous cars are reminiscent of past SXSW announcements. Now, Waymo and Uber are using this technology to help power the festival.

Uber sold its operations there to Didi Chuxing in 2016 after suffering heavy losses. And China already hosts a thicket of e-bike companies in cutthroat competition. Holt admitted that Uber has no ...