Mobike riding into Japan

Chinese bicycle-sharing startup Mobike Technology Co Ltd is charging ahead into Japan as the company scrambles to expand overseas and bring the China-originated bike-sharing service to more countries.

Mobike announced on Thursday that it has established its Japanese subsidiary Mobike Japan Ltd in Fukuoka, and it plans to begin services in the city later this year.

The move came shortly after Mobike raised more than $600 million in its latest round of financing from investors including Tencent Holdings Ltd.

Soichiro Takashima, mayor of Fukuoka, said the local government welcomed Mobike’s bikesharing service to the city.

“With Mobike’s bike-sharing platform, Fukuoka residents, as well as tourists, can enjoy greater mobility and convenience when traveling around the city. We look forward to the benefits Mobike will bring with the reduction in the number of automobiles,” Takashima said.

Mobike was first launched in Shanghai in April 2016, and has since expanded across China, into Singapore, and the United Kingdom. The company said that within 14 months it has expanded to 100 cities, with more than 100 million registered users and 5 million bikes in operation.

Mobike is locked in fierce competition with arch-rival Ofo Inc for supremacy in the burgeoning sector both at home and abroad. Mobike aims to have presence in 200 cities by the end of this year.

Chris Martin, head of international expansion at Mobike, said: “The Fukuoka city government and the Fukuoka Directive Council have given Mobike an incredible platform from which to expand our business in Japan.”