China's leading bicycle sharing platform Ofo bikes is making an entry into the Indian market through a partnership with the authorities in Pune to support the city's plan to promote cycle riding to curb the use of vehicles. The Alibaba-backed firm has signed a memorandum of understanding with the Pune Municipal Corporation, which is working on a bicycle master plan for the city. Ofo's entry comes soon after India's largest ride hailing service Ola launched its bicycle sharing platform Pedal. "Our station-free bike-sharing concept has improved transportation ...
Alibaba-backed Chinese bike-sharing firm Ofo has signed an agreement with the Pune Municipal Corporation to help reduce CO2 and noise pollution in the Indian city by launching a bike-sharing service. In a first for the country, the scheme will involve both the public and private sector, as Pune authorities will supply the initiative's infrastructure, while Ofo will be responsible for the bikes. The deal is part of a larger effort by China's tech giant Tencent to expand its presence in India.