Bike-sharing company to launch London JV

Chinese bike-sharing company Youon Technology Co Ltd will form a joint venture with United Kingdom operator Cycle.Land to roll out 1,000 new dockless bicycles in London in March, the enterprises announced on Monday.

The companies have signed a strategic partnership and will soon establish a UK-based joint venture company. Youon will provide the bicycles and Cycle.Land will operate and maintain the new project.

"What makes this partnership work is that Youon has the scale, and we can bring a lot of local knowledge that is invaluable," said Cycle.Land co-founder Agne Milukaite.