Why Chinese bike-share companies are backpedalling in India

Within a year of entering the country, Ofo has shut operations and Mobike is barely surviving

Just over a year ago, Bengaluru-based car rental startup ZoomCar announced that it was launching Pedl, a bike-sharing service. The company explained at length how Pedl was an extension of its car rental service. The company was going to start with Bengaluru and going to expand across the country. 

Soon after that reports emerged that Chinese bike-sharing unicorn Ofo was preparing to make its entry into the country. By January, the company had launched the service. It was hiring aggressively and buying cycles across cities. Barely a few months on, news broke that another Chinese bike-sharing unicorn, Mobike, was coming to