Chinese bike-sharing Mobike is starting the New Year with good news. Just three weeks after receiving 215 million USD fresh funding, the startup announced a strategic partnership with Foxconn, the Taiwanese manufacturing giant behind Apple’s iPhone and numerous other major electronics devices.

As part of this deal, Foxconn has also become a strategic investor in Mobike. The details of the deal, however, were not disclosed.

Partnership with iPhone maker will be a strong boost for Mobike’s hardware business in terms of smart bike production, distribution, as well as enhancing its design and user experiences. A company statement disclosed that the tie-up would boost the annual production capacity for Mobike’s proprietary smart bikes to 10 million, up 5.6 million units annually.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.