MOU signed between ofo and Pune Municipal Corporation

A memorandum of understanding (MoU) has been signed between Ofo and Pune Municipal Corporation (PMC) to support the Pune Cycle Plan.

The Pune Cycle Plan is  – a complete bicycle master plan for amalgamated city-wide cycle tracks across Pune.

Put together with support from the Ministry of Housing and Urban Affairs, Government of India. The Pune Cycle Plan sets out to create the required infrastructure for proper cycle tracks. It requires a city-wide cycle network, seamless public sharing bicycle schemes and development of cycle promotion activities for encouraging the use of this eco-friendly mode of transport.

Mobility has become a major civic issue in Pune recently as facilities for public commuting have not kept pace with the city’s growth. As per PMC’s Environment Status Report 2016-17, with 700 private vehicles being added to the roads every day, the city’s vehicle population is now equal to its human population.

This rapid rise in vehicular traffic is leading to air pollution, health problems, accidents, and wastage of time in traffic congestion. Recognizing this, the PMC has come up with the Pune Cycle Plan as part of its Comprehensive Mobility Plan (CMP).

Till date, ofo has operations in over 250 cities across 20 countries alongside widespread usage by over 200 million global users with more than 6 billion efficient, convenient and green rides. This innovative bike sharing platform requires no fixed docking stations, thus providing significant flexibility for the user to find and return bikes.

In Oct 2017, ofo joined hands with C40 – a network of world's leading megacities – to establish joint efforts in tackling pollution & climate change, and contribute to research focused on healthy livable cities.

In July 2017, ofo completed Series E funding of US$700 million led by Alibaba, Hony Capital and CITIC Private Equity, becoming the world’s biggest and most valued bike-sharing company.