Mobike Europe branch is reportedly planning on branching out into e-bike and scooter rentals in the region.
The rate increase is part of parent company Meituan’s broader profitability push.
Didi hopes new strategies will help it complete a U-turn that will get it out of the dead-end in which it finds itself.
Hellobike’s new prices are more expensive than taking the bus in Beijing, which may be a blow to its business model.
China’s rates of iteration are driving the development of AI but venture capital firms are also struggling to keep up.
Didi and Hellobike are now the biggest players in their respective markets and are moving onto each other’s turf.
Hello Transtech, an Alibaba-backed mobility unicorn, is streets ahead of the bikesharing firms that have come before it.
Meituan forays into ride-hailing and bike-rental services have been expensive gambits that haven’t yet paid off, but it has seen success in other efforts.
The Chinese bike-rental firm will also become a distinct business group within the lifestyle services company.
China produced the second largest number of new unicorns this year globally.