China’s bike-sharing firms were supposed to be the next big thing. What happened?
It was always unclear how the firms were ever supposed to be profitable. According to analysis published by Xinhua, each bike costs just over $200 to manufacture and $10 for each tuneup by a technician, and they made a profit of just 1 yuan, about 15 cents, per 2 hour ride, following a deposit of between $15 and $45.
https://foreignpolicy.com/2018/12/31/a-billion-bicyclists-can-be-wrong-china-business-bikeshare/
