The rate increase is part of parent company Meituan’s broader profitability push.
Beijing and Shanghai have given no indication of whether the bans will be lifted.
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.
The Chinese bike-rental firm will also become a distinct business group within the lifestyle services company.
Mobike is considering 10 more Indian cities and manufacturing bikes in India.
This is the first time for Mobike to pull out of a city because of antisocial behavior.
Last night (03 Apr 2018), Mobike shareholder meeting voted in favor of the Meituan acquisition, The Beijing News has reported (in Chinese). The Chinese group buying site Meituan agrees to acquire the bike rental company Mobike for 35% in equity and 65% in cash, of which $320 million will be used for future liquidity needs. Details […]
Chinese bike-rental firms, Mobike and Hello Transtech, expressed their willingness to enter the bidding.
The company is doing so in compliance with recent government regulations that demand old bikes to be withdrawn before new ones can be introduced.