Chengdu (PingWest) – On Thursday, residents in China's southern city Chengdu reported seeing yellow Ofo bikes piled up as trash waiting for demolition at a salvage yard. Each bike is rated at $2 for recycling. A factory worker said the bikes will be recycled as scrap.
Ofo, a Beijing-based bike sharing platform founded in 2014, is facing bankruptcy, while hundreds of millions of users are queuing online to get their deposits back.
Source: The Cover