Hellobike highlights China's huge market potentiality for two-wheelers at 2019RISE

2019-07-13 01:20 2783

HONG KONG, July 13, 2019 /PRNewswire/ -- "Our proven understanding of China's huge market potentiality for two-wheelers is the key to Hellobike's success so far", said Fischer (Xiaodong) Chen, CFO of China's two-wheeler industry leader Hellobike, when delivering speech at Asia's largest annual tech conference, RISE, in Hong Kong this week.

In Chen's speech, intitled 'Reshaping the Future of Urban Transportation', he shared insights about the dimension of China's two-wheeler market and Hellobike's successful experience and solutions.

Fischer Chen, CFO of Hellobike, speaks at RISE 2019
Fischer Chen, CFO of Hellobike, speaks at RISE 2019

Hellobike now has 230 million registered users and provides more than 20 million rides daily, ranking NO.1 in the bike-sharing industry. The company has completed 12 billion rides so far. "Hellobike is an efficiency focused company. We continuously improve the utilization of bikes and e-bikes by leveraging intelligent operation system, which is driven by algorithm, big data, cloud computing and smart hardware", Chen explained in his speech why Hellobike has surpassed its rivals and led the industry.

Hellobike focuses on providing two-wheeled vehicles and relevant services in China including bikes, e-bikes, e-motorbike leasing services, battery swapping network, and others. "China is a nation on two wheels," Chen emphasized in his speech, "Every day, more than 1 billion rides are done by bikes or e-bikes, with the former making up around 30% and the latter 70%." Two-wheeled vehicles provide an essential travel solution for many Chinese people.

In China, there are 7 million food delivery workers and 3 million package delivery workers, along with 500 million people who ride e-bikes for living and commute. With this huge market, recently, Hellobike, Ant Financial and CATL formed an e-bike battery swapping network and made e-bike battery use safer, accessible, and sustainable. Focusing on two-wheeled travel means serving a market of 1 billion riders per day, Hellobike envisions a smarter, greener, affordable and efficient commute.

This is the second consecutive year that Hellobike was invited to RISE. As one of the main attractions at RISE, Hellobike has taken the center stage. Organized by Web Summit, the RISE Conference brings together the world's leading founders, Fortune 500 CEOs, investors, media, and startups from over 100 countries.

Founded in 2016, Hellobike has received funding from known investors including GGV Capital, Ant Financial, Primavera Capital and Chengwei Capital, etc.

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Source: Hellobike