China’s bicycle sharing company enters Indian market

Chinese bicycle sharing company Ofo has entered India to capture the bicycle rental market.

According to some reports, Chennai will be the first city in India where the company will be launching its operations.

A report carried by a Chinese news agency said that the company proposes to offer its services free of cost, including a waver on deposits, till the year-end. Ofo has also reached an agreement to import bikes to India.

The entry of Ofo, which has presence in around 180 cities across 14 countries, including China, Australia, Singapore, Japan and the UK, with a fleet of 10 million bikes, could turn out be a dominant player.

It is also the first international bicycle sharing company to enter Indian market.

The company has been laying the foundation and building teams for a full-fledged launch in several other cities, including Coimbatore, Indore, Ahmedabad and Bengaluru.