Traditional brand enters bike-sharing business

Updated 2016-12-22 10:07:36 Global Times

Recent statistics show that around 100,000 Mobikes, the popular bike-sharing brand, are being used in Shanghai.

But according to Shanghai Bicycle Industry Association, the number of rental bikes could soon reach between 500,000 and 800,000.

To meet the growing demand for rental bicycles, one of Shanghai's oldest bicycle brands, Forever, will be cooperating with U-bicycle to launch their own bike-on-demand, according to thepaper.cn.

It was reported that the Forever project will kick off in early 2017 with between 100,000 and 200,000 bicycles.

Notably, users with Alipay credit points above 650 will not be required to pay a deposit when using a Forever rental bike.

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