The Chinese bike-rental firm will also become a distinct business group within the lifestyle services company.
This is the first time for Mobike to pull out of a city because of antisocial behavior.
Discarded bikes are languishing after the rental-bike boom went bust due to high retrieval costs.
In its first major statement since being acquired by Meituan, bike rental giant Mobike is to stop adding new bikes to cities considered to be already saturated with bikes, will share its big data with the government for improved city planning, and put RMB100 million into improving its user credit system, the company announced at […]
Hello Inc’s filing shows that the sector’s few remaining players now seek sustainable growth after reckless expansion in earlier years.
Didi is digging a wide yet deep competitive moat around the broader Chinese mobility market. Bike rentals will be a main driver of growth.
China’s bike rental industry is rebounding after the Spring Festival holiday as riders see it as the safest transportation option during the outbreak.
The company started registering a series of trademarks back in April.
As the bike rental cools down, industry insiders start to ask how well the bike ban fits current circumstances.
Uber has no plans to bring its bike rental scheme to China but it is considering other Asian countries.