Chinese electric vehicle manufacturer Future Mobility Corp. has raised a new funding round worth US$200 million from a group of unnamed investment institutions and large enterprises, according to a securities disclosure document. The round values the company, founded in 2016 by two veteran automobile executives from BMW Group and Infiniti China, at US$750 million post-money,… Continue reading Future Mobility Raises $200 Million In Financing Round At $750 Million Valuation
Author: China Money Network Online News
My Visit To Mobike Headquarters And What I Learned From Founder Hu Weiwei
In late July, I did a tour of Mobike’s headquarters in Beijing – and I had a fascinating talk with founder Hu Weiwei and VP of International Expansion Chris Martin. It was a fantastic experience and I left with a much better appreciation of the rocket-ship ride the company has been on. I am writing… Continue reading My Visit To Mobike Headquarters And What I Learned From Founder Hu Weiwei
Chinese Ride Sharing Giant Didi Partners With Taxify To Expand In Europe, Africa
China’s largest ride sharing company Didi Chuxing has agreed to form a strategic partnership with Taxify, a leading ride sharing firm in Europe and Africa. No financial details were disclosed. Didi will invest in and collaborate with Taxify to support the latter’s growth and innovation across its markets, according to a company announcement. Launched in… Continue reading Chinese Ride Sharing Giant Didi Partners With Taxify To Expand In Europe, Africa
NewMargin Capital Leads Series B Round In Bike Sharing Firm Xiaoming Bike
NewMargin Capital, a venture capital firm listed on China’s New Third Board, has led a series B round worth hundreds of millions of RMB in Xiaoming Bike, a Guangzhou-based bike sharing start-up. No additional financial details were disclosed in a company announcement. Investors in China continue to back new bike sharing companies in the belief… Continue reading NewMargin Capital Leads Series B Round In Bike Sharing Firm Xiaoming Bike
Ofo Sets New Fundraising Record After Collecting $700 Million In New Round
What do you do when your closest rival raises a record financing round? Complete a larger fundraising and set a new record, of course. That’s what Beijing-based bike sharing company ofo Inc. just did. A few weeks after competitor Mobike raised US$600 million, ofo announced today that it has raised more than US$700 million led… Continue reading Ofo Sets New Fundraising Record After Collecting $700 Million In New Round
Mobike Starts Selling Raincoats In First Attempt To Monetize Via E-Commerce
Shanghai-based bike sharing company Mobike has begin a trial to monetize its vast network of five million bikes around 100 cities globally by selling raincoats at RMB268 (US$39.5) apiece, in its first major attempt to make money outside of charging users for rides. The company, which has raised nearly US$1 billion this year at a… Continue reading Mobike Starts Selling Raincoats In First Attempt To Monetize Via E-Commerce
LeEco Founder Jia Yueting Sells Stake In US EV Firm Lucid Motors
Amidst an ongoing liquidity crisis, the founder of Chinese tech conglomerate LeEco has sold his stake in Menlo Park, California-based electric vehicle company Lucid Motors. Jia Yueting, who once dreamed of creating a Chinese tech juggernaut combining the attributes of Netflix, Apple and Tesla, revealed the news of his divestment last week during an especially… Continue reading LeEco Founder Jia Yueting Sells Stake In US EV Firm Lucid Motors
Hellobike Raises Series B+ Round From EV Start-Up WM Motor
WM Motor, an electric vehicle start-up founded by the former China head of Volvo Car Corporation, has made a strategic investment in Hellobike, a bike-sharing start-up focused on mid-size cities across China. Hellobike, which two months ago raised hundreds of millions of RMB in a series B round led Chengwei Capital, and is also backed… Continue reading Hellobike Raises Series B+ Round From EV Start-Up WM Motor
LeEco Founder Jia Yueting Placed On Defaulters List After Ignoring Chinese Court Order
Jia Yueting, the founder of troubled Chinese technology conglomerate LeEco, has been placed on a national list of defaulters after failing to comply with a court order related to unpaid debts, according to Chinese media reports. The news is the latest setback for a business leader who once dreamed of creating a Chinese tech juggernaut… Continue reading LeEco Founder Jia Yueting Placed On Defaulters List After Ignoring Chinese Court Order
Chinese Bike Sharing Firm Mobike Rumored To Acquire Smaller Peer UniBike
Mobike is in the process of acquiring a smaller peer, Xiamen city-based UniBike, for an undisclosed amount of money; the first merger deal in China’s red-hot bike sharing industry, according to local media reports citing insiders. In response to China Money Network’s inquiry, Mobike representative Chen Qian said the information is not accurate, but refused… Continue reading Chinese Bike Sharing Firm Mobike Rumored To Acquire Smaller Peer UniBike