(Bloomberg) -- Transport for London has agreed an extension of Santander's cycle hire sponsorship for the English capital's flagship scheme, the transit authority said in a statement on Friday.
The Santander Cycles sponsorship will run for another three years until May 2025. During that period, the cycle hire project will be expanded to new areas of London, with the introduction of e-bikes to the fleet for the first time from next summer.
TfL and Santander are working on plans to rollout about 500 electric bikes from next summer, as well as on upgrades to the existing Santander Cycles app.
In March, the Santander Cycles scheme passed the milestone of 100 million hires, while 24-hour membership registrations rose by 193% from March 2020 to March 2021 with people opting for alternative modes of transport amid increased social distancing efforts during the coronavirus pandemic.
The transport body said Friday that it would also be developing a permanent National Health Service discount for annual memberships “as a continued show of appreciation.”
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