Trek sells its bike sharing business BCycle

In addition to operating systems in major cities, BTS also provides customer service centers for 24 other cities in the United States.

It is worth mentioning that the connection between Trek and BTS can be traced back to 2016, when Trek, as a strategic investor, made a forward-looking investment in BTS, laying a solid foundation for their close cooperation in the future.

As the transaction progresses, BTS will take over more than 10 shared bike systems currently operated by BCycle, covering areas such as Santa Barbara and Santa Cruz in California, Madison in Wisconsin, and Boulder in Colorado. In addition, BTS plans to further expand its service scope by providing comprehensive services such as bicycle rental, station deployment, and technical support to 15 other communities including Indianapolis, Salt Lake City, Cincinnati, and Milwaukee, helping to enhance the diversity and convenience of public transportation systems in these areas.

Alison Cohen, founder and chairman of BTS, has high hopes for this acquisition. She said, "Through this integration, we will gain greater operational flexibility and in-depth supervision of the entire chain of services, so that we can respond more quickly and design real-time solutions to meet the urgent needs of modern cities in terms of fairness, safety, and climate change. More importantly, this initiative will make us more focused on our core mission - to create unparalleled experiences for riders and promote bike sharing as a popular mode of transportation in every city we serve

As part of this transaction, Brian Conger, the current executive director of BCycle, will join BTS's senior management team as Chief Business Officer.

John Burke, the President of Trek, highly praised BCycle's past achievements, stating that since its establishment in 2008, BCycle has successfully helped millions of people replace car travel with more environmentally friendly bicycles, making a positive contribution to mitigating climate change. We are deeply gratified to see BTS take over this baton and continue to promote the flourishing development of bike sharing, bringing more positive impacts to our planet and future

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