Bicycle manufacturing is on the rise thanks to the rapid development of the shared bike industry, popularized by several companies including Mobike and ofo, Cri.cn reported on March 20.
The largest bicycle producer, Toray, is located in Tianjin. With more than 9,000 employees, it can produce up to 7,000 bicycles per day, supplying products to many shared bike brands in China and abroad. The enterprise produced 800,000 bicycles in March alone, and is expected to manufacture 1.4 million in April.
An insider disclosed that shared bicycle companies have put 100,000 bikes on the market, and plan to boost that number by half annually, as the lifespan of a shared bicycle is about two years.