Ofo expanding into Japan market with Softbank

Ofo is expanding its business to Japan. SoftBank increased the number of companies they funded after last month's tie-up with WeWork. Now the Beijing-based unicorn startup will go to the bike-sharing market in Japan with Softbak for an undisclosed investment. The nirdock bike rental giant is taking a strategic step into the global market given the saturation in the local market.

Ofo has so far received funds from several investors including Alibaba, Didi Chuxing, and DST Global. The company founded by Dai Wei in 2014 has 8 million bikes and is claimed to have more than 100 million subscribers.

Bicycles are rented out and placed anywhere after the user scans the QR code via the app. Ofo will work with divisions at SoftBank who take care of IOT, robotics and cloud technology in their launch in Japan.

"Doing business in Japan is a great achievement for Ofo. In a country with a very strong cycling culture, Ofo will bend over backwards to improve user comfort in Japan," said Ofo Asia Pacific leader Lawrence Cao.

The company targets to build networks in 200 cities worldwide by the end of this year. At least the first 100 cities have managed to get in the early half of 2017 which the majority are in China and now they are starting to target cities abroad.

The market competition in China is very harsh and up to this point, Ofo has succeeded or is in an effort to approach the market in several countries in the world including England, Singapore, Thailand, Kazakhstan, Malaysia, and the latest is Japan.

Comments

European Union and ASEAN to restart Free Trade Agreement

Tinuku - European Union (EU) and ASEAN have agreed to restart the process of forming Free Trade Agreement (FTA). Singapore Prime Minister Lee Hsien Loong as ASEAN coordinator for EU-ASEAN relations said on Saturday to build a framework to identify potential sectors to finalize the deal.

Lee also said the EU and ASEAN had agreed to restart the process of establishing a free trade agreement between the two blocs. The EU and ASEAN launched talks towards a pact in 2007 but ignored the process two years later as the EU voted to negotiate bilaterally with each country.

"As coordinators, we look forward to forming a framework to identify where areas where we have the potential to make a deal," Lee said.

"Working on a deal may take longer than the end of the year. But if we can identify where the big opportunities are, our trade-offs, then I hope we will have better success," Lee said.

"One of the things we expect is that European nations are able to manage their soci…

Rolls-Royce plans for flying taxi service

Tinuku - Rolls-Royce Holdings plc has designed a propulsion system for flying taxi and is starting search for partners to help develop a project it hopes could take to the skies as soon as early next decade. British jet engine maker said on Sunday it had drawn up plans for an electric vertical take-off and landing (EVTOL) vehicle which could carry to five people at speeds of up 250 mph for approximately 500 miles.

The company joins a variety of companies racing to develop flying taxis, which could revolutionize the way people travel. Aviation and technology leaders are working to make electric-powered flying taxis a reality, including Airbus, U.S. ride- sharing firm Uber and a range of start-ups including one backed by Google co-founder Larry Page, called Kitty Hawk.

Rolls-Royce’s design will be showcased in digital form at the Farnborough Airshow, which starts on Monday. The company is looking for an airframer and a partner to provide aspects of the electrical system to help commerci…

Britain announced its first launch site for the space market

Tinuku - UK on Monday ran an important leap for the construction of the first vertical launch space launch site. The proposed space port at Sutherland in the north of Scotland has been awarded US$3.3 million in funding by the government-owned UK Space Agency to develop a ground-breaking launch site.

Government Business Secretary Greg Clark Monday launched the start of a Great British Space Age that will see vertically-launched space rockets and satellites take off from the new spaceport. UK Space Agency said it selected the Sutherland site because Scotland is the best place in Britain to reach highly sought-after satellite orbits with vertically launched rockets.

The initial funding will go to Scotland's Highlands and Islands Enterprise agency to develop the Sutherland site which will use a combination of proven and innovative rocket technologies to pave the way for a world-leading spaceflight market.

The UK Space Agency is also making available a new 2.65 million U.S. dollar fund…

Psychoengine studio build Honda GL 200 single-cylinder engine turns into Five Dragons 5-cylinder

Tinuku ~ Studio Psycoengine based in Purwokerto, Indonesia, building works Honda Tiger with a 5-cylinder rotary. Custom motorcycle entitled "Five Dragons" by M Yusuf Adib Mustofa emerged as the Best of the Best Kustomfest 2016 Legend Reborn.

TINUKU

Search This Blog