BUSINESS Ofo to enter Indian market


Ofo to enter Indian market

By Li Xuanmin | People's Daily app

15:00, November 29, 2017


Ofo enters India. (Photo: Courtesy of ofo)

China’s bike-sharing platform ofo announced on Wednesday that it will enter four cities in India, in the coming weeks, according to a statement the company sent to the People Daily.

The company said the four cities are Chennai, Bangalore, Ahmedabad and Indore.

"India is the world's second most populous nation with a fast-growing economy. Ofo’s convenient and eco-friendly mode of transportation helps to address the ‘last-mile’ connectivity, meets the growing demands for short-distance travel and helps urbanize Indian cities, " Dai Wei, ofo CEO, was quoted as saying in the report. 

Ofo will be offering free rides in India until the end of the year, and the company will not charge any deposit for the usage of its service, the statement said. 

India is ofo’s 19th country, a step closer to its target of 200 cities across 20 countries by the end of 2017.

The company now connects over 10 million bikes with 200 million global users. It generates 32 million transactions per day and provides a total of more than 4 billion rides, according to the statement.

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