All of these vandalised bikes have been going to drive one in every of China's bike-sharing corporations out of enterprise ultimately. That point has come.
Wukong Bike — one in every of an estimated 30 bike-sharing startups in China — has closed after a mere six months of operations. It had no selection: it misplaced almost 90 percent of its bicycles to mischief and theft.
The corporate had a fleet of 1,200 bicycles within the metropolis of Chongqing.
Like lots of its rivals, Wukong provided bikes for lease beneath the Uber mannequin of "sharing" a motorcycle — seize one off the road, unlock it with an app, and easily depart it by the aspect of the road at your vacation spot. Read more...Extra about China, Sharing Economy, Mobike, Ofo, and Bike Sharing