In 2020, Shanghai Hello Puhui Technology Co., Ltd. began to bet on the manufacturing and sales of two-wheeled electric vehicles to reduce its overreliance on shared services. However, after nearly four years of effort, this business may face an unfortunate ending.
On September 14, Hello responded to media inquiries, stating that the company is gradually abandoning its previously prioritized two-wheeled electric vehicle sales business, with offline specialty stores closing one after another. The business focus will shift towards a rental model.
With the rapid evolution of China's shared mobility market, Hello is facing unprecedented challenges. Under the pressure from competitors like Didi Chuxing and Meituan, this company, which quickly rose to prominence due to its convenient bike-sharing and electric vehicle services, is striving to find a new strategic direction.
Founded in 2016, Hello gained recognition primarily through its bike-sharing business, rapidly capturing market share. As the market environment changed, Hello expanded its offerings by launching electric vehicle sharing services. However, with the proliferation of electric bicycles, market competition has intensified. Companies like Didi Chuxing and Meituan have increased their investments in the electric vehicle market, vying for user favor, especially with Didi's rapid expansion posing a significant threat to Hello's market share.
Additionally, Hello faces challenges from emerging market players. The rise of new mobility solutions, such as shared electric scooters and motorcycles, has further distracted users. In this context, Hello's electric vehicle business urgently needs innovation to enhance its market competitiveness.
Beyond its electric vehicle business, Hello is also attempting to enhance its brand influence through diversified strategies. The company is gradually expanding its mobility service ecosystem by introducing various transportation options tailored to different user needs, including car rentals and ride-hailing services. However, whether these efforts can compete with rivals remains an open question. Finding a sustainable development path in the electric vehicle market has become crucial for Hello's future growth.
At the same time, Hello faces pressure for technological upgrades. The core of shared mobility lies in efficiently matching user demand with transportation resources, and technological innovation is essential to achieving this goal. In this area, Hello needs to invest more resources and energy to improve user experience and maintain its competitive edge. However, whether increased R&D spending will yield corresponding returns remains to be seen.
Moreover, Hello needs to strengthen its marketing efforts. Despite the gradual increase in brand recognition, maintaining user loyalty and standing out in a fiercely competitive market remain pressing challenges for Hello. In the face of rapidly changing user preferences, Hello must respond flexibly and adjust its marketing strategies in a timely manner to ensure its leading position in the industry.
Although Hello has achieved significant growth over the past few years, its future development path remains fraught with challenges. In the face of increasingly fierce competition and a continuously evolving market environment, Hello urgently needs to find new avenues to maintain its position in the shared mobility sector.
Against this backdrop, whether Hello can regain its developmental momentum under competitive pressure and achieve transformation and breakthroughs remains a question worthy of attention. As market dynamics continue to evolve, each of Hello's decisions will directly impact its future trajectory. In this uncertain shared mobility market, it remains to be seen whether Hello can rise to the challenge and seize opportunities.