Press Release

Panasonic and China's Mobike Start Talks for Collaboration on IoT e-bike

Osaka, Japan - Panasonic Cycle Technology Co., Ltd, a division of Panasonic Corporation specialized in bicycles and accessories, and Beijing Mobike Technology Co., Ltd. , a Chinese bike sharing service provider, agreed to consider a partnership in the field of IoT electric-assist bikes. The two companies aim to explore opportunities to jointly develop and provide highly convenient bikes for bike sharing and rental service users.

Internet-connected IoT e-bikes allow users to unlock them by using their smartphones and also allow user to record riding data. Using GPS, they can achieve high security, traceability and control parking location as well.

Panasonic Cycle Technology has been in the bicycle business for 66 years, handling the entire process from planning, developing, producing and selling bikes and related products since 1952. In 1996, the company launched an e-bike. The company has become the leader by market share in the Japanese market for e-bikes*, enjoying strong customer support by offering products that meet their needs.

Beijing Mobike Technology operates bike sharing service "Mobike," which is provided not only in major cities in China but also in Singapore, Italy and the United Kingdom. In Japan, Mobike Japan started business in August 2017 in Sapporo. Mobike's shared bikes feature an electronic lock which allows users to unlock by scanning QR code.

The agreement comes as the two companies see the opportunity to provide high value added products and services to customers by utilizing their management resources and business know-how as reliable partners in the evolving market environment.

The companies aim to help achieve more comfortable and safer society through e-bike sharing and rental services.

* According to data by Panasonic Cycle Technology Co., Ltd as of November 7, 2018