Beijing and Shanghai have given no indication of whether the bans will be lifted.
Other bike-rental companies are considering raising prices, as warmer weather brings a likely rebound in trip numbers.
As the bike-rental craze cools down, so do Chinese firms’ ambitious globalization plans.
The law comes as concern mounts about the financial stability of a number of mobility firms in the rental economy sector.
Discarded bikes are languishing after the rental-bike boom went bust due to high retrieval costs.
All of China’s most visible mobility players have undergone significant change over the last 12 months.
Editor’s note: Rumors are rife in China, especially so in a hotly contested area like transportation and O2O services. This news is unconfirmed and the veracity of Mobike’s financial and operational situation as outlined is unclear. Update 10:02 04 Apr 2018: The purchase has been confirmed by multiple sources. Follow our coverage here. Rumors of […]
Bike companies have a longer time for implementation than previously announced.
Chinese bike rental companies Mobike and ofo expanded to more than 30 countries last year. While attending the SeedStars Summit 2018 in Lausane, Switzerland, we asked people from 5 different countries what they think about Chinese bike rental startups’ expansion into their home countries. Recent data from Cheetah shows that China’s active users of bike […]
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.