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China’s bike-sharing war goes global
Photo: image.baidu.com
 
Mobike, a Chinese company providing bike-sharing services, will start its operation in Singapore on Tuesday, its first market outside China, where rival Ofo has also expanded, according to Bloomberg. Hu Weiwei, a co-founder of Mobike was cited by Bloomberg as saying the company aims to enter more than 100 cities this year. 
 
Since Mobile started operation last year, its orange bicycles have soon gained popularity and are widely used as a short distance transportation alternative. The company has attracted hundreds of millions of dollars from investors including Tencent Holdings Ltd., and Foxconn Technology Group. 
 
Ofo, Mobike’s top competition in China, has announced recently to include the United States and United Kingdom into its overseas expansion. Some other players in the burgeoning sector are also looking to expand overseas in a bid to gain scale, as the domestic market has reached a saturation point with several plyers. 

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