Dow Chemical and Mobike Collaborate on Next-Generation Smart Shared BikesBeijing, China - May 12, 2017 -
Dow Chemical (China) Investment Company Limited and Beijing Mobike Technology Ltd. signed a memorandum of understanding (MoU) on a strategic partnership today in Beijing. The partnership will leverage Dow’s diversified technological platforms and world-class innovative materials science and Mobike’s leading position in China’s bike sharing market in support of the development of China’s sharing economy.
Under the terms of the MoU, Dow and Mobike intend to develop a long-term and comprehensive strategic partnership on both the product and market levels. Building on the existing partnership between the two companies, Dow will deliver more innovative and integrated products, materials and solutions to Mobike, with the aim of developing lighter weight and more eco-friendly Mobikes that will consistently provide an enhanced riding experience and environmental benefits.
“Dow has been committed to reducing humanity’s environmental footprint and achieving innovation in various fields through collaboration with downstream value chain partners to deliver industry-leading sustainable solutions to end users,” said Mr. Yoke Loon Lim, Dow Greater China President. “We are excited about our strategic partnership with industry-leading Mobike, because Dow’s advanced materials solutions can help reduce the weight of Mobikes and lower the environmental impact caused by bike production and use. These efforts will serve as a model of a ‘low carbon lifestyle and green transportation’ and contribute to the growth of China’s bike sharing market.”
“As the pioneer of smart bike-sharing globally, Mobike is committed to helping urban dwellers overcome the last-mile challenge and reducing traffic congestion, leveraging our proprietary smart bikes and smart locks as well as innovative business model, and harnessing the next-generation technology of Internet of Things,” said Ms. Hu Weiwei, founder and president of Mobike Technology. “Our aim is to make a meaningful difference by providing a convenient and reliable transportation option and helping reduce our environmental impact of urban travel and improve the quality of urban life. Dow shares this vision, and its innovative products and solutions will help make Mobikes more lightweight, eco-friendly, and reliable, providing Mobikers with an enhanced and low carbon riding experience for short urban trips.”
On April 22nd, “Earth Day,” Mobike introduced its latest smart bike model (nicknamed “Light Breeze”) at a celebration to mark the one-year anniversary of the official launch of the first Mobike. The new model uses Dow’s innovative polyurethane materials for its insert tires. Compared with the traditional solid rubber tire, the Dow polyurethane insert tire helps reduce weight by 20%, while improving shock absorption and durability. As the world’s largest platform for smart bike sharing, Mobike is leveraging Dow’s industry-leading polyurethane technology to provide a better riding experience to millions of riders.
In addition to polyurethane materials, Dow will further partner with Mobike on R&D programs, and provide Mobike with more tailor-made innovative products and solutions in the future to further reduce the weight of the bike frame and other parts. As a total solution provider for the bike sharing market, Dow is committed to creating value for its customers and end users.
Mobike is the world’s first and largest smart bike-sharing company. Its mission is to bring more bikes to more cities, using its innovative technology to make cycling the most convenient and environmentally-friendly transport choice for urban residents. Using specially designed bikes equipped with GPS, IoT chips and proprietary smart-lock technology, Mobike enables users of its smartphone app to find a Mobike near them and unlock it simply by scanning a QR code. After reaching their destination, the user parks the bike by the roadside and locks it, automatically making the bike available to other Mobike users nearby.
Mobike was founded in January 2015, and officially launched its service in Shanghai in April 2016 and in just a year since then has expanded the service to over 60 cities across China and internationally, operating more than 3.65 million smart Mobikes that give over 20 million rides a day.
Dow (NYSE: DOW) combines the power of science and technology to passionately innovate what is essential to human progress. The Company is driving innovations that extract value from material, polymer, chemical, and biological science to help address many of the world's most challenging problems, such as the need for fresh food, safer and more sustainable transportation, clean water, energy efficiency, more durable infrastructure, and increasing agricultural productivity. Dow's integrated, market-driven portfolio delivers a broad range of technology-based products and solutions to customers in 175 countries and in high-growth sectors such as packaging, infrastructure, transportation, consumer care, electronics, and agriculture. In 2016, Dow had annual sales of $48 billion and employed approximately 56,000 people worldwide. The Company's more than 7,000 product families are manufactured at 189 sites in 34 countries across the globe. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.
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