CHENGDU, Jan. 11 (NBD) -- China's bike-sharing startup Mobike reached on Tuesday an agreement for strategic collaboration with Chengdu Hongqi Chain Co., Ltd. (Hongqi), to set up parking lots at some 2,700 stores of the latter's. 

Cao Shiru, Chairperson of Hongqi, a retailer giant based in the capital of Southwest China's Sichuan Province, complimented the cooperation and expressed plans to strengthen ties with Mobike in their future online and brick-and-motar business. 

Mobike introduced "Mobike Lite", the second generation of its vehicle, last November. Users indicate that they feel more comfortable when handle a Moike Lite, of which the unit cost has been reduced to less than 1,000 yuan (145 US dollars) compared to some 3,000 yuan (435 US dollars) of its first generation. 

Hu Weiwei, founder of Mobike, said that the introduction of Mobike Lite is driven by the strategy to explore different products, other than consideration for the costs. 

Email: zengyunheng@nbd.com.cn