(Yicai Global) April 20 -- Ofo Bicycle Co., one of China's two largest bike-sharing operators, is linking up with bicycle maker Battle FSD Co. on research and development and to secure a supply of 10 million bikes a year, People.cn reported.
The partners will set up the first global R&D center for shared bikes and cooperate in several fields including integration of supply chain and global production capacity as well as overseas layout, the report said.
Battle FSD will dedicate about a dozen production lines to Ofo, with output of over 10 million units a year. The lines used to serve bike brands in Europe and America.
Battle FSD Chairman Xin Jiansheng estimates sales of more than 20 million bikes in this year following the move, accounting for more than 20 percent of the worldwide total. Global production reached over 80 million units last year, meaning Battle FSD would make bikes for Ofo equivalent to an eighth of global output.
So far, Ofo has made shared bike services available across 81 cities in four countries including China, the US, the UK and Singapore.