The scheme is known officially as Barclays Cycle Hire as British bank Barclays is its sponsor.
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The city introduced Barclays Cycle Hire in July 2010, and now the rental program has peak usage of about 24, 000 users a day.
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"Serious incidents involving Barclays Cycle Hire bikes are thankfully extremely rare and we will assist the Metropolitan Police and the local highway authority with their investigation into this incident, " said a TfL spokesman.
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