(Yicai Global) Sept. 8 -- Chinese bike-sharing firm Beijing Mobike Technology Co. formally entered the Malaysia market on Wednesday.
Mobike put hundreds of its bikes into operation in Selangor’s capital of Shah Alam and will move into the country’s capital of Kuala Lumpur some 40 kilometers away this year, state-run Xinhua news agency reported.
Mobike will cooperate with local real estate developer S P Setia Berhad [MYX:8664], said Chris Martin, Mobike’s overseas development leader. Mobike will expand its network gradually. It plans move into other major Malaysian cities such as Penang by the end of the year.
Mobike chose American credit card service provider Stripe Inc. to process payments in Malaysia and cooperated with local brands to secure insurance. Users can make a
USD2.14 (MYR9) deposit and rent a bike for MYR1.5 per half hour during an introductory promotion.
Unlike some of their Chinese and European counterparts, many cities in Malaysia lack bicycle lanes, and their locals are more accustomed to traveling by motorcycle. The heat may deter use.
Mobike needs not only to put bikes on the street, but also to have a series of supporting measures, Martin opined. The group has changed the habits of many users with this strategy.
Mobike said its services are available in 170 cities with 100 million registered users and 7 million bikes.