Bike-shar­ing Ofo drops out of Chicago

China Daily (USA) - - NEWS CAPSULE -

Chinese bike-shar­ing ti­tan Ofo Inc has an­nounced it is pulling its bikes out of Chicago, as the city raised the cap for the com­pany’s type of dock­less shared bikes.

The Bei­jing-based com­pany, which op­er­ated 50 wheel-lock­only shared bikes when the city’s dock­less shared bike pi­lot pro­gram was launched in early May, said that it is drop­ping out in re­sponse to the updated lock­ing re­quire­ments.

City au­thor­i­ties changed the guide­lines at the end of June to al­low com­pa­nies to de­ploy 350 lock-to bikes, which have the abil­ity to lock to a fixed ob­ject af­ter use. Ofo’s shared bikes lack the lock-to abil­ity and can be parked any­where with the wheel lock.

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