Tencent-backed bike-sharing startup Mobike has launched in Singapore, as competition with its Chinese rival Didi Chuxing’s ofo heats up. The Financial Times reports that Singapore has been expanding bike paths and encouraging environmentally friendly cycle use. Singapore state investment fund and Warbug Pincus have also invested in Mobike, while Chinese phonemaker Xiaomi has teamed up with Didi Chuxing behind ofo.
Students pose for pictures as they use ofo sharing bicycles at a campus in Zhengzhou, China, Photo: Reuters via China Daily
Tencent’s bike-share app hits Singapore
Mobike faces off with rival Didi Chuxing’s ofo for the city-state’s market