China startup Mobike teams up with Foxconn as it plans surge in bike output

Transport aid: Mobike is one of several companies in China that allows users to find, scan, and rent bicycles through a smartphone app.

BEIJING: China's Mobike said it has joined hands with manufacturing giant Foxconn to double the number of bikes it plans to make this year to 10 million, as the start-up seeks to become the dominant player in the country's nascent bike-sharing market.

Mobike, which is backed by Tencent and Warbung Pincus LLC, made upward of 400,000 bikes last year. This year it will manufacture 5.6 million with Foxconn and the rest on its own, it said.