(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.

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 ...