Vélib’ means free bicycle or bicycle freedom in English. The system was launched on 15 July 2007 by Paris mayor Bertrand Delanoë. Ten thousand bicycles were introduced to the city with 750 automated rental stations each with fifteen or more bikes/spaces. This number has since grown to 20,000 bicycles and 1,450 stations, roughly one station every 300 metres throughout the city centre, making Vélib’ the largest system of its kind in the world.
I believe Public bike rental system is truly good way to save energy and have environmental benefits as well as to offer easy transportation for tourism. A lot of other Europe Cities, Barcelona, Copenhagen, Luxembourg, etc. also have this system. In case of London, Mayor Boris Johnson, himself a keen cyclist, has plan to introduce a similar system in London in May 2010.