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Didi Chuxing shared bicycles

Didi Chuxing plans to launch a bicycle sharing platform within its application

Chinese developer Didi Chuxing plans to launch a bicycle sharing platform within its application. The initiative will also include partner companies such as Ofo and Didi’s own bicycle sharing brand.

Didi Chuxing, the world’s largest shared travel company, said in a press release that it has also entered into an agreement with Chinese Bluegogo Shared Bikes Company, which will be added to the platform.

In the last year in China, there is a real obsession with shared bicycles, but the business has begun to overcrow, and a number of companies have begun to bend under such pressure. The regulators have tightened the rules in this sector and raised concerns that there are too many bicycles on the streets. Some cities banned bicycle sharing for safety reasons. At the end of last year, Bluegogo, the third largest company in the sector, announced bankruptcy.

The two market leaders – Ofo and Mobike – have raised billions of dollars from technology giants such as Alibaba and Tencent Holdings, while Didi Chuxing also invests in Ofo.

Some bicycle companies also announced they are planning to enter China in this sector. On Sunday, FAW Car said it would acquire a 10% stake in the recently launched division of Mobike for shared cars.

About Manuel Fajardo

Manuel Fajardo is from Brazil, living in Porto Alegre. He works in Finance Apprise Journal, as analysts and content writer. In my responsibilities are finance and business news for Latin America, Asia and Australia.

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