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Brompton Bike Hire is set to roll out a new subscription model in the coming weeks.
The service, which will be available on a monthly or annual basis, will launch this summer at a cost of less than £1 per day.
Brompton says its subscription model is the first to operate in the UK nationwide, expanding on existing kids services or London-only schemes and follows Dutch firm Swapfiets who pioneered the concept in Delft in 2014.
It does not require a deposit, and as part of the package, members will also benefit from upgrades, theft and damage insurance, free maintenance. Brompton will also provide a free loan bike should repairs need to be made.
Brompton said the service has already proved popular with businesses who want to help their staff get back to work safely post-lockdown, and undercuts typical Cycle to Work schemes which can cost on average £56 per month for a premium bike.
Brompton Bike Hire managing director Julian Scrivens said: “There is a significant shift towards cycling now more than ever, but not everyone wants to or can afford to buy a bike outright.”
“Our pay-as-you-ride schemes are already enormously popular, but we wanted to give the public another option which allows them to keep a bike for longer periods.”
“This new subscription service will revolutionise the way people own a bike, giving them a premium product without the upfront price tag. It’s an option to make everyone’s life easier, whether you’re a commuter, student, family or just want to cycle on the weekends but don’t want to commit or have the space to own a bike forever.”
Subscriptions will be available on a limited basis for an initial launch period, with new memberships being exclusively released each month.
