It seems like bike-sharing companies are the new Uber of the bicycle rental industry — with cheaper rates and greater flexibility in terms of rental and return locations, brands like ofo Singapore offer more attractive services than traditional bike rental shops.
These shops are understandably unhappy, and with good reason, too. The Beijing-based ofo has been using rent-free spaces at public parks for its easily-recognizable yellow bikes — in other words, at one point of time, the bikes were parked illegally at motorcycle parking lots. Plus, ofo’s rate of 50 cents per trip undercuts local bike rental businesses, which charge about $7 to $8 for an hour-long rental. These companies also have to win a public tender to operate in parks and pay monthly rent to the National Parks Board.
Even though ofo only started operations less than a month ago, it already has about 1,000 bikes around the island, mostly in parks and MRT stations. Obike, the local version of the bike-sharing platform, also launched in Singapore last month.
According to The Straits Times, the Land Transport Authority stated that these two companies would promote cycling in Singapore, but it would keep tabs on their services to implement any appropriate measures to the situation.
