Singapore fights for rental bikes in London

Dock less bike sharing company launches its sharing scheme to Tower Hamlets. Bikes sharing scheme is a huge business. Chinese firms have had huge success on these types of schemes and raised hundreds of millions of dollars. As of it now Ofo was the first company to bring the dock less model of bike sharing to the UK with the launch of a trail in April at Cambridge.
Its biggest rivalry partners, MoBike, introduced its cycles in Manchester. Now, they’re coming to the capital to take on the humble Boris Bike officially known as the Santander Cycles. In total 400 oBikes – not related to the similar-sounding Mobike – have been placed in Tower Hamlets.
“It’s super multicultural, there’s a lot of cycle highways, so the commute from home to work or meeting to meeting is easy, but we felt there was a lack of bicycles available in the area,” says Augustin Mallon, a senior UK manager for oBike,
Like other bike sharing schemes, the system allows riders to find, rent, and pay for bikes through a Smartphone app. Each 30-minute ride costs 50p plus a refundable deposit of £49, and the bike is unlocked by scanning a QR code printed on its frame.

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