It's a make-or-break moment for U.S. bikeshares

According to a CNN report, with the entry of Chinese dockless bikeshare, the US bikeshare market is being turned on its head, and the implications could be huge for cities. Chinese companies such as Ofo and Mobike are expanding to the United States. Meanwhile, U.S.-based startups, such as Spin and LimeBike, are also cutting costs dramatically by relying on dockless technology.

There are still questions about potential drawbacks of dockless technology. The programs have generally been successful in China, but some cities have reported piles of neglected bicycles cluttering the streets due to few regulations. If the dockless model works, bicycling may become a viable transportation option in many cities, with millions of shared bicycles appearing in cities.

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Bicycling is the most cost effective way to address congestion, pollution and public health issues. "It's exciting, but we'll have to see," said Henry Dunbar, who leads bike transportation in Arlington, nearby Washington D.C. "There will be an impact. I just can't tell you exactly what it will be."

"It's an incredible opportunity for cities," said Russell Meddin, editor of BikeSharingMap.com. "Many U.S. cities could take five to 20 times as many bikes as they have today, finally fulfilling the potential of public bicycle transportation."