China's FAW Car is taking a 10% stake in bike-sharing start-up Mobike's car-sharing unit. The deal will see the Chinese company take an equity position of up to 10 percent and become one of Mobike’s largest investors. Mobike has about 100 million users and enables about 25 million rides each day.
China's FAW Car is taking a 10% stake in bike-sharing start-up Mobike's car-sharing unit. As part of the deal, FAW will provide electric cars for Mobike Chuxing, which was set up last month with a registered capital of CNY20m ($3m). Mobike has about 100 million users and enables about 25 million rides each day.