INSUBCONTINENT EXCLUSIVE:
Mobike made a roster of announcements about its bikesharing program today, including the end of customer deposits in China and full
The developments, its first since its acquisition by Meituan for $2.7 billion in April, are meant to help Mobike become a stronger
large range of services, including dining, salon, entertainment and travel bookings, it offers
app.Mobike also upped the ante for competitors by announcing that it will stop requiring users in China to pay 299 RMB (about $45) deposits
and will refund all deposits already paid
contacted the company for more information about how much money it is refunding).Deposits are a contentious issue among bikesharing users
Though Mobike and Ofo claim they do not use customer deposits to fund operations, some bikesharing startups have been accused of spending
deposits on operational expenses, with users complaining that it is very difficult to get their money back, even if they stop using a
service or it goes out of business
The issue has resulted in Chinese lawmakers drafting regulations that require bikesharing companies to store deposits in a separate bank
account so the funds are still available to return to customers even if a company goes out of business.Another controversial issue is the
To address environmental concerns, Mobike says it is launching a bike components recycling program in partnership with several companies,
including Dow, China Recycling Resources and Tianjin Xinneng Recycling Resources
Called Mobike Life Cycle, the program will recycle bike components into new parts or raw materials
Mobike says it has already recycled and reused over 300,000 Mobike tires.Mobike will also add a new e-bike that can reach a top speed of 20
km/hour and travel up to 70 km on a single charge
In its press statement, Mobike says most of its bikes are used for trips up to 3 km, but the e-bikes will hopefully increase that to 5 km.
