Barclays Cycle Hire, an initiative which provides an affordable, sustainable and environmentally friendly transport network in central London, today announces plans to expand the scheme to the east of the UK capital.
By the summer of 2012, docking stations will be located outside central London's 'zone 1', and further across the Boroughs of Tower Hamlets and Hackney.
The expansion will mean an additional 2,000 cycles and 4,200 docking points reaching the streets of London, benefiting new locations such as Bethnal Green, Bow, Mile End, Poplar and Canary Wharf.
Deanna Oppenheimer, CEO, UK and Western Europe Retail Banking and Vice Chair, Global Retail Banking, said: "It is clear that with 100,000 plus members and over 1.5 million journeys since launch, London has embraced Barclays Cycle Hire.
"The scheme is having a profound social and economic effect on the city of London, and the expansion will see more people able to benefit from it."
Boris Johnson, Mayor of London, added: "Londoners have taken to the hire of two wheels with alacrity and it would have been absolutely nonsensical not to expand our scheme.
"Plans are now well advanced that will see the roll out of thousands more of our gleaming bikes across the capital's legendary East End.
"For as little as 12 pence a day users will soon be able to use our bikes to cross a huge swathe of our city, and it will mean that by 2012 we'll be able to invite the entire world to join London's cycling revolution."
Ohid Ahmed, Deputy Mayor of Tower Hamlets, concluded: "The cycle hire scheme has proved immensely popular in Tower Hamlets.
"With the increasing development of the City fringe, Canary Wharf and the Olympic Park, the heart of London is moving east so it's important that this scheme expands in Tower Hamlets and beyond."
Barclays Cycle Hire was launched to members on 30 July by Barclays Group Chairman Marcus Agius and the Mayor of London Boris Johnson, both pictured above.
When completed, the expanded scheme will cover 65 square kilometres, with 8,000 bikes and 14,400 docking points made available across central and east London.