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.
The Chinese bike-rental firm will also become a distinct business group within the lifestyle services company.
Chinese bike-rental firms, Mobike and Hello Transtech, expressed their willingness to enter the bidding.
The law comes as concern mounts about the financial stability of a number of mobility firms in the rental economy sector.
All of China’s most visible mobility players have undergone significant change over the last 12 months.
Bike companies have a longer time for implementation than previously announced.
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.