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.
Bike companies have a longer time for implementation than previously announced.
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 […]
Foshan will require Mobike, ofo, and other bike rental companies to hand over users blacklisted for bad parking.
Despite the rumors and speculation surrounding a possible merger between Mobile and ofo, Mobike co-founder and CEO Davis Wang has made it clear again at TheYearAhead Summit that a “merger is not an option for the company,” local media is reporting. Similarly, ofo founder and CEO Dai Wei also expressed previously that the company would not […]
Mobike, a major Chinese bike-rental company, has just placed their first batch of bikes in the capital of the United States as part of its ambitious global expansion plan. Closely following its largest rival ofo’s footprint, Mobike chose Washington D.C. as the first city in America to start running its business, whereas ofo just a month ago […]