Bike-sharing firms seek ways to stay afloat

Mobike's bicycles covered by tarpaulin at a logistics base in Wuhan. Two years ago, the bike-sharing titan declared its plans to operate in over 100 cities globally, but it is withdrawing from overseas markets, including Singapore.
Mobike's bicycles covered by tarpaulin at a logistics base in Wuhan. Two years ago, the bike-sharing titan declared its plans to operate in over 100 cities globally, but it is withdrawing from overseas markets, including Singapore.PHOTO: REUTERS

Bike-sharing spells convenience, but the oversaturation of start-ups and price wars have made them unsustainable

Each morning, Ms He Xiaoyuan rides a shared electric scooter to the train station, hops on the train for three stops, before riding a shared bicycle to her workplace.

The entire journey takes the political researcher 40 minutes - about 20 minutes less than if she had to walk to and from the train station.

Please or to continue reading the full article. Learn more about ST PREMIUM.

Enjoy unlimited access to ST's best work

  • Exclusive stories and features on multiple devices
  • In-depth analyses and opinion pieces
  • ePaper and award-winning multimedia content
A version of this article appeared in the print edition of The Straits Times on April 15, 2019, with the headline 'Bike-sharing firms seek ways to stay afloat'. Print Edition | Subscribe