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Serco extends London cycle hire contract with TfL

Serco has signed a three-year contract extension with Transport for London (TfL) to continue providing, maintaining, and distributing the bikes on the London cycle hire scheme, known as Santander Cycles.

The extension, which includes the provision of the newly introduced e-Bikes, is valued at £50 million and will see Serco continue to support the scheme until 2025.

Serco has been involved in the London cycle hire scheme since its very inception in 2010 having been responsible for its initial design, build and operation, and since 2017 being responsible for the provision, maintenance, and distribution of the 12,000 bikes around London.

Serco has supported TfL in introducing innovations to improve the operation of the scheme and the experience for customers, most recently with the introduction of 500 new e-Bikes. This follows previous innovations including laser lights to make riders more visible, AI technology to predict the movement and distribution of bikes around London and GPS technology that can assist with recovery of lost or stolen bikes.

Sam Jones, Serco’s Micromobility Director, said: “At Serco we are extremely proud of our long-standing support for the London cycle hire scheme and relationship with TfL, having been responsible for the scheme’s initial design, build and operation and more recently the supply, maintenance and distribution of the bikes. This new contract extension will continue the relationship, support the introduction of the new e-bikes, and deliver over £2 million in operational savings for TfL.”

The cycle hire scheme continues to see record hires with 9.5 million so far this year, 1.2 million higher than at the same point last year.

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