The rate increase is part of parent company Meituan’s broader profitability push.
Mobike Europe branch is reportedly planning on branching out into e-bike and scooter rentals in the region.
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.’
Meituan-owned Mobike also denied that layoffs in Asia are part of a larger exit strategy.
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.
Company’s best short-term strategy is to direct users to its profitable services such as travel.
Rising costs for Meituan’s core food delivery business drove fourth quarter losses.
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.
Meituan’s Q1 results show that its more disciplined expansion strategy is paying off.