Ofo wheels in
Bicycle-sharing outfit Ofo is looking to double the number of dockless bikes it has in its London fleet and is rolling out its service across a number of the city’s boroughs after completing a trial in Hackney. The company, backed by Chinese ride-app giant Didi Chuxing, is also planning to add new UK locations to existing operations in the capital, Oxford and Cambridge.
Well-financed Ofo is also ramping up activities in a number of countries. Milan is slated to get 4,000 Ofo bikes for October, with the local government leaning heavily on the Chinese firm to put some 17,000 bicycles on the streets.
However, bike-sharing has proved to be a tricky business on Ofo’s home turf with Wukong Bicycles going bust after six months when 90% all of its bikes went missing, while 3Vbike lost 1,000 in a mere four months.