The underground shared bike-only parking garage could help ease two-wheeler clutter on street level.
Minority shareholders have reportedly begun receiving documents about the deal.
The Chinese capital is reinforcing electronic fences for bike rentals. The designated parking zones will prevent bike users parking haphazardly, according to Xinhua report (in Chinese). Last year, regulators issued parking guidelines to encourage bike users to park in an orderly manner, but the guidelines were not strictly imposed. Now, regulators are enforcing the guidelines […]
The company says it holds over 50% market share in terms of numbers of orders.
Youon is one of the few Chinese bike rental companies still expanding overseas.
Hu’s resignation comes at a tumultuous time in China’s bike-rental industry.
The Chinese bike-sharing firm has been teetering on the edge of bankruptcy.
Germany has become the latest market from which Chinese bike-sharing firm ofo will make an exit. The company, which has been plagued by rumors of a cash crunch over the past few months, has adjusted its overseas operations in line with its plans to focus on priority markets. ofo has begun scaling back its international operations […]
Chinese bike sharing company ofo has hit another speed bump in its international markets. According to media reports, Ofo is pulling operations out in cities in Spain, including Madrid, Granada, Valencia, and Marbella, after entering the country less than a year ago. The company told TechNode that ofo is still operating in Spain, but admitted […]
More merger and acquisition activity is in store for the power bank rental sector.