Mobike wants its bikes available in 100 cities globally

Updated 2017-03-21 14:31:02 CGTN

Yet another newly-founded Chinese tech company is trying to go global: Mobike, the bike-sharing service that has poured more than a million self-designed bicycles into some 30 cities around China.

The company's CEO Hu Weiwei has said that it's going to triple its coverage to 100 cities.

There are now more than a dozen bike-sharing companies in China, and the ongoing boom has shown no signs of declining.

Among the companies, Mobike and Ofo are the two most visible in urban areas across China. The two received investments of hundreds of millions of US dollars early in 2017, from IT and Internet giants like Tencent and Foxconn.

The startup will officially start services on Tuesday in Singapore, its first non-Chinese location, where rival Ofo has also expanded, according to a Bloomberg report published Monday.

Dark side of the moon‍

As the companies expand, worries have emerged around whether the bike-sharing business is actually profitable.

Users can pay a deposit of less than 30 US dollars to start using the service, and a ride usually costs less than a dollar, sometimes zero.

Some people have expressed doubts over whether the companies are using their deposits to invest into other businesses. There is currently no official comment confirming or denying such rumors.

The bikes, although especially designed for being shared, can still be stolen or vandalized.

“Public welfare and business profits can be done at the same time,” said Hu Weiwei in a 2016 speech.

But whether that is true of his own business remains to be seen.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58January 22 2018 16:34:06

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16January 22 2018 16:34:06

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18January 22 2018 16:34:06

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords