Launched last Tuesday, the on-demand cycle-sharing scheme allows customers to hire a city bike for £1 an hour, or £5 for 24 hours, while an annual commuter pass entitles a rider to two one-hour-long journeys each day for a year for £39. The scheme closely emulates similar ideas that are proving extremely popular throughout Asia as well as European car sharing scheme DriveNow.

Convenience is of course key with a scheme such as this one, and one of the biggest selling points of YoBike is the fact it doesn’t have to be taken from or returned to a docking station. Instead, inbuilt GPS tracking and an integrated lock mean that YoBikes can be left anywhere that’s considered safe and legal across the entire city.