Hello TransTech said to start selling electric scooters next month to take on Niu Technologies

Chinese bike-sharing giant Hello TransTech, previously known as Hellobike, will start selling electric scooters in April to rival brands such as Niu Technologies, Yadea, according to chinastarmarket.cn.

In 2019, Hello TransTech has already tested the market of electric scooters.

In November 2019, Hello TransTech opened its official Tmall flagship store, with its main business including selling and renting electric scooters as well as selling peripheral products.

Previously jiemian.com cited sources familiar with the matter as saying Hello TransTech will go public in the US in the second quarter with a $2 billion capital raising.

Hello TransTech completed two rounds of financing last year, in which Chinese car battery maker CATL took its first stake, according to data provider Tianyancha.

The company has completed 15 financing rounds so far, with a lineup of big VCs including Ant Financial Services and Chunhua Capital.

The latest data released by Hello TransTech shows that its app has now reached 400 million total registered users and its bike-sharing business covers over 460 cities in China.

Hello TransTech said to go public in US in Q2, raising $2 billion