Established bike company joins bike-sharing market

A Mobike is parked next to two Ofo bikes. [Photo by Guo Yiming/]

Shanghai Forever Bicycle joined with U-Bicycle Technology to march into China’s internet-based bike-sharing market, China National Radio reports.

Founded in 1940, Shanghai Forever Co., Ltd was once the most famous bicycle brand across China. U-Bicycle founder and CEO Yu Yi said the two companies would provide a first batch of bicycles in Shanghai in early 2017 and planned to put some 2 million bicycles on the market throughout the next year and a half.

At present, Shanghai has already seen several bike-sharing brands including Mobike and Ofo bikes. However, in Yu’s eyes, the current 150,000-200,000 bicycles can hardly meet the expected needs, since the total demand in the city is estimated to reach 500,000-800,000 according to Shanghai Bicycle Association.

Facing more serious competition, Mobike Shanghai General Manager Yao Chengwu remains optimistic. “Industry development asks for competition. Anyone who grasps the most stable technology and service will develop best. For bike-sharing market, the result will come out in the following one and two years.”

However, the sudden increase of these bikes also caused mounting pressure on urban management. Wang Yi, director of legislative affairs office at traffic police corps of Shanghai Municipal Public Security Bureau, said, “Currently, the internet-based bike-sharing market has to face disorder development, which requires relevant governmental departments to conduct research and deal with existing problems.”

Guo Jianrong, secretary-general of Shanghai Bicycle Association, confirmed that city management and public security departments in Shanghai are busy with making related guide and regulation on the issue, and industry and service standards are expected to be released in the first half year of 2017.

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