SINGAPORE - As beleaguered bike-sharing firm ofo reaches the end of the road here, Singapore-based rival Anywheel is set to expand its fleet tenfold, while a newcomer - Moov Technology - has been granted approval to roll out 1,000 bikes.
However, ofo's licence was suspended in February after it failed to meet regulatory requirements, such as failing to implement a QR code-based parking system that would allow its bicycles to be parked only within specified areas. This comes after Chinese firm Mobike announced last month that it was pulling out of the Singapore market.In December last year, ofo chief executive Dai Wei said the firm was facing "immense" cash-flow problems and had considered filing for bankruptcy.
Sandbox licences are granted to new operators, allowing them to operate smaller fleets while the LTA assesses their operations. Applications were assessed based on factors such as the firm's proposal to manage indiscriminate parking, as well as fleet utilisation and the track records of existing operators.
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Source: The Straits Times - 🏆 8. / 63 Read more »
Source: The Straits Times - 🏆 8. / 63 Read more »