I expect some of the shared bike operators to close shop within the next six months and the fleet size to drop further. If this happens, it will be another example of the inexperience of our regulators. Their regulations make business not sustainable.
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FROM TODAY PAPER
Shared bike fleet slashed by over 50 per cent to 40,500, as Ofo cuts numbers from Nov 1
The shared bicycle population in Singapore will be cut by more than half next month, dipping from 100,000 in September to 40,500 as operators downsize their fleets to meet a Nov 1 deadline imposed by the Land Transport Authority (LTA). Ofo, which had originally applied for and was granted a licence for 25,000 bicycles, subsequently requested a reduction to a maximum fleet of 10,000 due to difficulties meeting financial obligations under the licensing scheme for 25,000 bikes, the LTA said on Monday.
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FROM TODAY PAPER
Shared bike fleet slashed by over 50 per cent to 40,500, as Ofo cuts numbers from Nov 1
The shared bicycle population in Singapore will be cut by more than half next month, dipping from 100,000 in September to 40,500 as operators downsize their fleets to meet a Nov 1 deadline imposed by the Land Transport Authority (LTA). Ofo, which had originally applied for and was granted a licence for 25,000 bicycles, subsequently requested a reduction to a maximum fleet of 10,000 due to difficulties meeting financial obligations under the licensing scheme for 25,000 bikes, the LTA said on Monday.
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