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Mobike attracted hundreds of millions of dollars from backers including Tencent Holdings, Warburg Pincus, TPG Capital, Temasek Holdings and Foxconn Technology. The startup will officially start services Tuesday in Singapore, its first non-Chinese location, where rival ofo has also expanded. Mobike has created a Singapore-specific model that obeys local safety regulations and will place the bikes at locations away from the city center to prevent congestion, she said. That helps address an issue that’s been contentious back home. Chinese media has reported that the Shanghai Municipal Government is banning bike-sharing services from placing new bicycles on the city’s sidewalks. A Mobike spokeswoman said the government agency had already denied the accuracy of those reports. Ofo’s overseas expansion also includes the U.S. and U.K., the company has said. |
