Chinese bike-sharing services provider ofo on Tuesday announced plans to enter Spain and Portugal, which will be its seventh and eighth markets in Europe.
Ofo bikes will be available in Madrid and Cascais, a step forward to achieve its annual target of expansion into 20 countries and regions by the end of 2017.
Chinese bike-sharing companies like ofo and Mobike have been expanding aggressively in overseas markets this year. Ofo and Mobike investors were reportedly in early talks to push China's two largest bike-sharing platforms into a merger, Bloomberg reported earlier this month. Both companies subsequently denied any such plans.