Electric scooter battery rental service Ningde Zhixiang raised $28.3m from Zhonhen Electric 10 months after being founded with $145m.
Power and electronics equipment producer Zhonhen Electric has invested RMB200m ($28.3m) in China-based electric scooter battery-swapping service Ningde Zhixiang, 36Kr has reported.
Ningde Zhixiang operates a service that enables electric scooter owners to rent batteries for their vehicles. The charged batteries are available through a network of charging stations and riders pay for them through a mobile app.
The company was formed in June 2019 as a joint partnership between bicycle sharing service Hello Chuxing, battery manufacturer Contemporary Amperex Technology…
