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TheStreet Open House

Citi Bike Arrives, Skids Amid Controversy

Stocks in this article: CGS

Still more than 8,000 people have already signed up for Citi Bike, according to the DOT, and 72% of New Yorkers support the initiative. There is a sizable contingent of detractors with one-third of New Yorkers against bike lanes. Still opposition may be futile.

"Biking keeps growing in popularity with more than 300 new lanes in the past five years and DOT commuter cycling doubling in the same time," said Scott Gastel, spokesperson for the New York City Department of Transportation. Almost 20,000 New Yorkers commuted by bike in 2011, double the figure in 2006.

Naveen Munjal, managing director of e-Bike company Hero Eco Group, just recently launched his company's A2B e-bike in New York, playing off the city's increased interest in cycling. Munjal says the green factor and en vogue nature of bike transportation will make New York more accepting of this mode of transportation.

"It's going to be about eco-friendly, it's going to be about the cool quotient," he said. "It's about doing your bit for the environment, your bit for the city."

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--Written by Ross Kenneth Urken for MainStreet

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