The race is still on in China’s bike-rental sector. Bike-rental startup ofo and the world’s largest bicycle producer Fushida recently entered into a strategic partnership that will see the latter manufacture 10 million bicycles for ofo every year, local media is reporting (in Chinese).

Fushida chairman Xin Jiansheng expected the company’s annual production capacity to top 20 million this year, representing a fifth of the global manufacturing output.

In addition, the two companies will build together a global bike R&D center and conduct cooperation in supply chain, overseas market development and other areas.

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Sheila Yu

Sheila Yu is a Shanghai-based technology writer. She brings readers the biggest news from Chinese language tech media. Reach her at sheila@technode.com.