Boris bikes: £40m sponsorship deal keeps TfL scheme on the road until 2032

Evening Standard

The long-term future of the capital’s fleet of “Boris bikes” has been secured after Transport for London struck a lucrative £40m sponsorship deal.Santander, the bank that became sponsor of the scheme in 2015, has agreed to continue for a further seven years, paying about £5.8m a year in return for having its brand featuring on the 12,000 bikes and 800 docking stations.

Transcript

00:00The sponsorship deal is absolutely central to the running of the operations

00:03but we know Londoners love these. We know over 8 million people used them last

00:07year and it just keeps on growing so we will continue to invest in this because

00:12Londoners want them.

00:13Come on, give it a go.

00:15Over the coming months and weeks and years we'll be announcing the

00:20expansion of the e-bike fleet as well as improvements to the technology, new

00:24contracts on how we manage this to ensure that these really work and continue to

00:29be work and are trusted for Londoners.

00:31When the scheme was launched there was no competition whatsoever.

00:34These were the only bikes available and what's amazing, irrespective of the fact

00:38that more and more people are cycling using all sorts of things, line bikes,

00:41forests and other schemes, what's interesting is that the Santander system

00:45has really remained solid. 8 million hires last year.

00:49We've seen an increase again this year and the new e-bikes that we've got here

00:54are particularly popular and they are among the cheapest.

00:56So you can hire a bike using the Santander system for £3.50 for unlimited

01:03one hour journeys over a 24 hour period.

01:06So that means that it is better value, they're great quality products

01:11and everybody has certainty of where they are because of the docking the stations.

01:15せ?

01:16OK.

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