Chinese bike-rental firms, Mobike and Hello Transtech, expressed their willingness to enter the bidding.
It is the first time the Beijing government has penalized a bike-rental company for the number of bikes on its streets.
Didi is trimming its workforce in order to reduce operating costs and better cope with intense competition in the ride hailing market.
Beijing and Shanghai have given no indication of whether the bans will be lifted.
Didi’s struggles in the bike-rental market led to a launch of its own brand, Qingju.
Nanjing’s limits on rental cars may be a harbinger of things to come.
China’s bike rental industry has experienced a roller coaster over the past 3 years. At its height, there were nearly 80 bike rental startups in the market, brightening the streets with a rainbow of bikes. But in the fast-paced tech world, trends come and go quickly. Within a year, over 20 bike startups failed, including […]
China’s emerging Social Credit System prompts disquiet—even if no one is watching.