(Yicai Global) Nov. 2 -- Changzhou Youon Public Bicycle System [SHA:603776], a Jiangsu-based bike-sharing company, has formed a partnership with China Mobile Communications Corp. [HK:0941], one of China's three big communication operators, to build smart transport based on the Internet of Things (IOT).
Youon struck a cooperative agreement with China Mobile's IOT unit and its Jiangsu-based subsidiary yesterday, per which Youon will leverage the latter's technical advantages to build a green sharing mobility system featuring shared bikes, e-bikes and electric cars, the company announced.
The parties will cooperate in new product development, testing, consulting and project building in areas such as bike sharing's blueprint, operation and management model to afford users safe, efficient and convenient green mobility services.
Youon said that China Mobile's IOT unit owns key technologies applied in shared bikes and its Jiangsu-based subsidiary is a leading mobile communications operator in the province. The cooperation will facilitate its strategic development and enhance its competitiveness.
Youon has been running public bikes for six years and launched its shared bike app last year. It has 20 million members, with 750 million trips using its shared bikes each year.