Tencent invests in Electric Power Bicycle Company Shifang Sports, whose products start at 12000 yuan.

CTOnews.com, November 14, according to reports from the investment community, the latest industrial and commercial changes have taken place in Shenzhen Shifang Sports Technology Co., Ltd. (referred to as "Shifang Sports Technology"), including new shareholders-Guangxi Tencent Venture Capital Co., Ltd., Zhuhai Yuehe Enterprise Management Consulting Center (limited partnership).

CTOnews.com learned that the founder of Shifang Sports Technology Company is Liang Xiaoling, which was hatched from the leading bicycle company Thousand Lida Group and was established in May 2021. It is positioned as an electric bicycle brand born to solve urban commuting, mainly for consumers in Europe and the United States. The main business is the electric bicycle with the brand "TENWAYS". TENWAYS currently offers two models with a minimum price of 1499 pounds, equivalent to about 12000 yuan.

It is worth mentioning that there are a number of well-known investment institutions such as Hillhouse, Zhongding Capital, Huaying Capital, Gaohu Capital and so on in the lineup of science and technology investors of the Shifang Movement.

According to PrecedenceResearch, the global e-bike market is worth $17.56 billion in 2021, up 6.49% from a year earlier, and is expected to reach $40.98 billion in 2030, with a compound growth rate of about 10% from 2021 to 2030. Liang Xiaoling, founder of Shifang Sports Technology, once shouted: "Smart motorcycles are the tuyere of the bicycle industry in the future. it is better to take the initiative to build momentum when the wind comes."