Alibaba's Ant Financial and Hellobike team up on $145M e-bike battery JV
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Meituan Dianping
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Yang Lei
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Summary
Recognizing the possibility that some people just don’t want to pedal that last mile, China’s transportation startup Hellobike is setting up a 1 billion yuan ($145 million) joint venture with Alibaba’s financial affiliate Ant Financial and battery maker CATL to provide battery-swapping services for scooters.That’s according to an announcement from Hellobike on Wednesday, though it did not specify individual shares of the three partners.Hellobike, backed by Ant Financial, has evolved from a bike sharing service into a one-stop app to include ride-hailing and other transportation means.
As said here by Rita Liao