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Aya Lin · · 1 min readIn brief: Hellobike to form $145m e-bike battery venture with Ant Financial, CATL
- Chinese bicycle-sharing startup Hellobike said it will team up with its backer Ant Financial and battery manufacturer Contemporary Amperex Technology to invest nearly US$145 million to establish an e-bike battery joint venture, Reuters reported.
- The joint venture plans to set up a network of storage units that will allow e-bike riders to swap for charged batteries on the go.
- The three companies did not disclose their individual shares in the joint venture.
Editing by Eileen C. Ang
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