07:16 AM EDT, 08/19/2024 (MT Newswires) -- Uber Technologies ( UBER ) -backed Lime is entering the Japanese e-scooter market in a move that will make it a competitor to the local Tokyo-based Luup KK, Bloomberg News reported Monday.

Lime launched its service in some of Tokyo's most densely populated neighborhoods on Monday with around 200 electric scooters and more than 40 recharging ports, according to the report.

Luup controls more than 90% of the domestic market based on ride mileage and operates 9,100 ports, Bloomberg said.

Lime negotiated for six to 12 months with local government officials and partners to set up ports and modified its e-scooters to meet regulations, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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