China's FAW Car is taking a 10 percent 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.
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.