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.
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 […]
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.