In 2019, Hellobike and Contemporary Amperex Technology Co Ltd announced a US$145 million electric battery joint venture.

[3] This operation aims to develop a network of stations that would enable riders to pick up fully-charged batteries.

In a series of fundraising rounds dating back to 2016, Hellobike has raised over US$1.8 billion from investors.

Ant Group, the company's largest single investor, holds an estimated 36 percent share in Hellobike.

[4] In the highly-competitive Chinese bike sharing market, Hellobike's primary rival is Mobike.