Phoenix, a 120-year-old bike producer based in Shanghai, will provide about 5 million bikes annually for Ofo, one of the country's top two bike sharing companies.
They will target major Chinese cities including Beijing and Shanghai, as well as the overseas markets, the two companies said today, when they announced a strategic cooperation in the 2017 China International Bicycle Fair in Shanghai.
The strategic cooperation covers areas including manufacturing, branding and new models' development to meet quality standards on shared bikes in different countries. Every bike produced by Phoenix, compared with other Ofo bikes, will have a classic Phoenix logo.
Phoenix will also use its overseas distribution and logistics network to support Ofo's international expansion, as Phoenix is the largest original bike exporter in China, with registered trademarks in more than 80 countries and regions, according to the statement.
The two companies started business cooperation from about six months ago, mainly in bike manufacturing.
Ofo said it has operation in 100 cities in four countries — China, the US, the UK, and Singapore, with nearly 5 million bikes and 100 million users. So far the number of average daily orders from overseas markets reaches about 20,000, the company said.