The Mayor made the announcement as he marked the scheme’s first anniversary and revealed that there had been more than six million bike hires since launch.
Despite City Hall’s desire to present the scheme as a success, a recent London Assembly report suggested it would lose £10m in the first year while users have complained of being incorrectly charged.
Johnson said the scheme’s extension was was a testament “to the rapidly increasing popularity of pedal power in London” and thanked the capital’s boroughs “who have been champing at the bit for an expansion of this scheme”.
In addition twelve new docking stations will be erected to link the scheme t the Westfield shopping centre in White City.
Mayor Johnson also announced that Barclays bank would provide a further £25m of sponsorship for the scheme.