The rate increase is part of parent company Meituan’s broader profitability push.
Hello Inc’s filing shows that the sector’s few remaining players now seek sustainable growth after reckless expansion in earlier years.
Mobike has started to charge Shanghai users an extra RMB 20 (around $3) if they park a bike outside the company’s ‘area of operation.’
Hellobike’s new prices are more expensive than taking the bus in Beijing, which may be a blow to its business model.
Mobike was added to WeChat Pay’s interface as a third-party service.
Hu’s resignation comes at a tumultuous time in China’s bike-rental industry.
Didi is digging a wide yet deep competitive moat around the broader Chinese mobility market. Bike rentals will be a main driver of growth.
The company is doing so in compliance with recent government regulations that demand old bikes to be withdrawn before new ones can be introduced.
China’s Mobike to restrict rider parking in Beijing as authorities tighten regulation on dockless bikes – SCMP What happened: Bike rental firm Mobike is prohibiting riders from parking outside of specified operational areas. The company has set a boundary that determines how far away from the city center users can park their bikes. If they park […]
Mobike is extending deposit-free, credit-free bike rentals to a hundred cities. After launching the deposit-free system in Hefei, Hangzhou, Dongguan and other cities in May, it will now spread to a hundred areas–including second and third-tier cities–covering more than half its China cities. The first tier cities of Beijing, Shanghai, Guangzhou, and Shenzhen will not […]