China's FAW buys 10% stake in Mobike's new car-sharing unit

China's FAW buys 10% stake in Mobike's new car-sharing unit

Ofo Inc. and Beijing Mobike Technology Co. bicycles sit parked on a sidewalk outside a subway station in Shanghai, China, on Thursday, Sept. 12, 2017. Photographer: Qilai Shen/Bloomberg

FAW Car Co Ltd said on Sunday it was taking a 10 percent stake in Chinese bicycle-sharing startup Mobike’s new car-sharing unit Mobike Chuxing Technology Co.

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