Xiaoha Huandian, a battery-swapping arm of bike-sharing firm Hello, has raised hundreds of millions of yuan in a funding round led by Greater Bay Area Homeland Investments Ltd., Grains Valley and THU Capital.
Hello began Xiaoha Huandian – the battery-swapping business - in 2019. Xiaoha Huandian now distributes fully-charged batteries to e-bike riders in over 200 cities in the Chinese mainland and beyond.
The company has big ideas for expansion around the world. With new domestic standards, around 50 million electric bicycles will soon need to be replaced. To say nothing of the 8 million deliverymen zipping around the nation’s streets on electric two-wheelers.
More than 20 companies have offered battery exchanges. The charging fee is 3-5 yuan once. Customers can book monthly and yearly service.