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China's CATL, Ant Financial and Hellobike set up e-bike battery firm

SHANGHAI, June 12 (Reuters) - China’s Contemporary Amperex Technology Co Ltd (CATL), Ant Financial Services and Hellobike said on Wednesday they will invest 1 billion yuan ($144.60 million) to establish a electric bicycle battery joint venture.

The battery maker, fintech firm and Alibaba-backed bike-sharing start-up announced the cooperation in a joint statement, which did not disclose the individual shares of the partners in the joint venture. ($1 = 6.9158 Chinese yuan) (Reporting by Shanghai Newsroom and Brenda Goh; Editing by Himani Sarkar)

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