Alibaba-backed Ofo targets 150,000 bikes in London alone as Tencent-sponsored Mobike expands in Manchester
Patrick CollinsonMon 12 Mar 2018 06.01 GMT
Dockless bike providers Mobike and Ofo will dramatically expand their operations in London and Manchester as the two Chinese companies continue their cut-throat multibillion-dollar battle for global domination.
The expansion plans come despite the decision last week by one rival, GoBee, to abandon European operations after 60% of its bikes were vandalised or destroyed within four months of launch.
Sign up to the daily Business Today email or follow Guardian Business on Twitter at @BusinessDesk From Monday the bike-sharing schemes will expand into Southwark, south London, with Ofo confident most other boroughs in the capital will join by the end of 2018.
So far Ofo has introduced 1,250 bikes into London but said it is ultimately targeting 150,000 bikes across the city, compared with the 12,000 bikes currently available under the official Santander-sponsored “Boris Bike” scheme.
Meanwhile, Stockport will get the first of 1,000 orange and silver Mobikes rolled out on Monday after the company said its initial scheme in Manchester city centre had been a success.