Chinese bike-sharing firms gear up to launch in Mexico

Record ID: 1105816

  • Title: Chinese bike-sharing firms gear up to launch in Mexico
  • Date: 1st March 2018
  • Summary: USER BY BIKE USERS ON BIKES BACK WHEEL OF MOBIKE WITH PEDESTRIANS IN THE BACKGROUND BIKES ON FOOTHPATH AMONGST PEDESTRIANS PEDESTRIANS AND CYCLIST CROSS ROAD CYCLISTS CROSSING ROAD (SOUNDBITE) (Spanish) GENERAL DIRECTOR OF MOBIKE IN MEXICO, RENE OJEDA, SAYING: "Mexico has problems and interesting challenges that we can develop on. We know that it's a market that is controlled well, that is managed well, that is regulated well and which could then give us a path to taking on other cities in Latin America. Latin America is a market that has a lot of mobility needs, we have a lot in common with our Latin brothers and sisters across the continent. Mexico will be a base for these options to spread further south." CYCLIST CYCLING UNDER OVERPASS TRAFFIC LIGHTS WITH SMALLER TRAFFIC LIGHT SET UNDERNEATH FOR BIKES CYCLISTS CROSSING ROAD WITH THEIR DOGS
  • Embargoed: 15th March 2018 00:00
  • Keywords: Mobike congestion Guadalajara bike-sharing Monterrey Mexico Mexico City China Ofo traffic
  • Location: MEXICO CITY, MEXICO
  • City: MEXICO CITY, MEXICO
  • Country: Mexico
  • Topics: Living / Lifestyle,Society/Social Issues
  • Reuters ID: LVA00384GW9J7
  • Aspect Ratio: 16:9
  • Story Text: A pair of deep-pocketed Chinese bike-sharing companies are gearing up to launch in Mexico, looking to make their Latin American debut in the country that is home to one of the world's largest and most congested cities.
    Beijing-based Mobike, which has raised more than $1 billion, has set its sights on Mexico. The company is in talks to bring its rental bikes to Mexico City's affluent Miguel Hidalgo borough, targeting a February launch, according to a person with knowledge of the matter.
    Another Beijing company, Ofo, which has already raised more than $1.3 billion in venture capital, is also eyeing Mexico City, Guadalajara and Monterrey as it prepares to offer its service in Mexico.
    With their foray into Mexico City the Chinese bike-share companies would be entering a market that already hosts ECOBICI, which is run by the city government and is one of the largest public bike-sharing programs in North America. The Mexican capital is home to nearly 9 million people, with a total of more than 21 million in its metropolitan area.
    Mexico City, with its traffic-choked streets and poor air quality, has proved a prime target for tech companies aiming to remake transportation. Ride-hailing company Uber Technologies Inc. chose Mexico City for its first entry into Latin America, and the city remains its third-biggest market worldwide.
    ECOBICI, which launched in 2010 and has grown to include more than 6,000 bikes at more than 450 stations, has found a strong following among Mexico City residents. The city closes off miles of streets every weekend for cyclists.
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