According to an insider, U-Bicycle could be marching into the North American market for sharing e-Scooters, the second biggest move after U-bicycle ‘s deployment into the North American market.
Preview of U-bicycle e-scooter
Research reveals that the sharing e-scooter’s are extremely popular among overseas youngsters. The US is heavily involved with the scooter culture, and the overseas road traffic is often complete and unique. People are highly willing to pay for e-scooters, indicating tremendous potential in the market.
As a start-up company of sharing e-scooters, Bird has been operating such business locally, with a considerable number of customers. By witnessing this fast-growing company, Sequoia Capital leads the investment by pouring 150 million dollars into Bird, with Sequoia Capital now estimating Bird as an enterprise worth approximately 1 billion dollars. In addition, Limebike has also distributed a significant number of e-scooters to San Francisco this year, but there is no data disclosed thus far. If U-bicycle takes this opportunity to step into the e-scooters competition, it may secure a place among the top three e-scooter enterprises. Reports say that U-bicycle entered the Canadian market in 2017 and gradually acquired the operating licenses in multiple cities. Since U-bicycle runs the business exclusively, it did not suffer from the loss similar to other sharing bike players in China.
With the trend of sharing commute, Uber and Lyft are also alleged to join the business of sharing scooters. According to news reports, the rate of sharing e-scooters in the US is 1 dollar of base price and another 15 cents per minute. The company can profit approximately 24 dollars from each scooter daily.
When planning U-bicycle in the North American market, the founder of U-bicycle said that under the U-Globalized Project, U-bicycle will cooperate with a Canadian technical team, who have been invested into by Canada’s richest entrepreneur, in order to establish an R&D center, and jointly develop technologies in the Intenet of Things (IoT), artificial intelligence (AI), and big data. In the meantime, U-bicycle will explore the local market and set up the closed-loop artificial database that demonstrates the riding data of local residents. U-Bicycle will also fill in the big database alongside the set up of the entire IoT. Therefore, joining the market of sharing e-scooters is the first step in the U-Globalized Project. The establishment of the supply chain may also promote the e-scooter project in the future.