(Yicai Global) Nov. 30 -- China's shared-bike giant Beijing Bikelock Technology Co., often referred to as Ofo, is accelerating its global layout. Ofo will roll out bike-sharing services in four cities in India to achieve its set goal of entering markets in 20 countries worldwide by the end of the year, tech.163.com reported.
China's bike-sharing giant will enter four cities in India -- Chennai, Bangalore, Ahmedabad and Indore, to roll out its service in busy neighborhoods and well-known universities such as the 'Indian Institutes of Technology,' autonomous public institutes of higher education. Ofo will provide free ride experience service with no deposit in the said local markets by the end of the year.
"As a populous country, India enjoys a rapid growth in its economy," said Dai Wei, founder and CEO of Ofo. After rolling out services in four cities in the world's second populous country after China, Ofo will cooperate with the local governments and accelerate its pace into other cities in India.
Founded in 2015, Ofo has already rolled out over 10 million bikes in the world with a daily order of more than 32 million, said the tech.163.com report. India will be the 19th country Ofo operates shared-bike services, after introducing it in the US, Britain, Italy, Japan, Russia, the Netherlands and Singapore, among others.