Mobike lost 200,000 bikes last year

Bike share firm still suffering theft and vandalism

Chinese bike-share firm, Mobike – now officially named Meituan Bike – has revealed that it lost over 200,000 bikes last year as a result of theft and vandalism.

The BBC reports that 205,600 dockless bikes were lost. The firm has thanked 189,000 of its users who filed reports about stolen or damaged bikes.

Mobike uses a credit score system which is designed to punish or reward users according to how they use the service. Some offenders are banned.

Despite these measures, the company has struggled with vandalism in many areas.

One Mobike incident a day was reported to Manchester police during the firm's time in the city.

It eventually pulled out in September 2018, saying that losses resulting from vandalism and theft had rendered its operation “unsustainable.”

The firm also pulled out of Newcastle and Gateshead after bikes were dumped in the Tyne.

In March last year, an urban transport expert described the dockless bike-sharing business model as a ‘joke’.

“No one is making any money anywhere in the world,” said Singapore-based Professor Park Byung Joon.

His colleague, transport economist Walter Theseira, added: "It is a business model that defied gravity because there was a lot of cheap money pumped into it. Gone will be the days of just putting bikes everywhere.”

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