As city streets in China become a theater for the current venture capital-fueled bike rental start-up frenzy, the two biggest bike rental companies in the country, Shanghai-based Mobike and Beijing-based ofo, are both raising massive new financing rounds totaling nearly US$1 billion. Mobike is raising a new round worth several hundred million U.S. dollars, which… Continue reading China’s Bike Rental Firms Mobike, ofo Are Raising Nearly $1 Billion In Fresh Funding
Category: Automotive
Tencent, Baidu Lead $600M Round In Chinese Electric Vehicle Maker NIO
Tencent Holdings Ltd. and Baidu Inc. have led a US$600 million funding round in Shanghai-based electric car maker NIO, formerly known as NextEV, according to Chinese media reports citing insiders. IDG Capital, American investment firm TPG, Hillhouse Capital, Lenovo Group Ltd., Singapore-based GIC Private Ltd., and a number of investors also participated in the round,… Continue reading Tencent, Baidu Lead $600M Round In Chinese Electric Vehicle Maker NIO
Chinese Bike Rental Firm Mobike Launches Services In The UK
Shanghai-based smart bike rental firm Mobike today announced it will launch its service in the British cities of Manchester and Salford later this month, marking the multi-billion dollar start-up’s first operation outside of Asia and the beginning of further expansion in Europe. Starting June 29, people in Manchester and Salford will be able to download… Continue reading Chinese Bike Rental Firm Mobike Launches Services In The UK
Global Smart Transport Market To Expand 50 Times To Reach $1.5 Trillion By 2030
The future mobility market, those providing self-driving smart electric vehicles and shared mobility, is likely to expand 50 times to reach US$1.5 trillion in market size by 2030, compared to today’s US$30 billion. Investors could benefit from companies in the electrification, autonomous driving, Internet of Cars (IoC) and shared mobility categories, according to a BofA… Continue reading Global Smart Transport Market To Expand 50 Times To Reach $1.5 Trillion By 2030
Beijing Considers Tighter Rules On Bike Sharing Deposits
The Beijing Municipal Bureau of Financial Work is considering tighter regulations over the management of deposits collected by bike sharing companies, in order to protect consumers and reduce financial risk in the industry. Bike sharing companies registered in Beijing may be asked to put all bike deposits they have collected into a special bank account… Continue reading Beijing Considers Tighter Rules On Bike Sharing Deposits
China’s FDG Electric Vehicle Hires Former Volvo China Head As COO
Chinese electric vehicle company FDG Electric Vehicles Ltd. has named Tong Zhiyuan, formerly the chief executive officer of Volvo Car Corporation China District, as its chief operating officer and executive director, effective immediately. Tong will act as the head of FDG’s electric vehicle division, and will oversee daily operation and management, research and development at… Continue reading China’s FDG Electric Vehicle Hires Former Volvo China Head As COO
Shanghai Puts Breaks on Bike Share Frenzy, Asks Mobike, Ofo To Temporarily Halt Bike Placement
The Shanghai government has asked six bike sharing companies including Mobike and ofo to temporarily suspend bike placement in the city’s central districts, saying shared bikes have reached saturation point in those areas. The move may put the breaks on a venture capital-fueled bike sharing frenzy taking place in China. It also highlights regulatory risks… Continue reading Shanghai Puts Breaks on Bike Share Frenzy, Asks Mobike, Ofo To Temporarily Halt Bike Placement
Chinese Provinces Race For Lead In Electric Vehicle Innovation
Provinces across China are vying to attract electric vehicle companies and projects, positioning themselves to benefit most as China aspires to become a world leader in electric vehicle innovation. The latest region to score big is the Guian New Area, a 1,795 square kilometer economic zone located near Guiyang city in sleepy Guizhou province. China’s… Continue reading Chinese Provinces Race For Lead In Electric Vehicle Innovation
China Fines For Foreign Automakers Raise Regulatory Risks
Investigations by China’s National Development and Reform Commission (NDRC) into anti-competitive behavior in the autos sector have raised regulatory uncertainty and risk for international car makers, says credit rating agency Fitch Ratings. The potential fines likely to be levied are not expected to have a material impact on corporate stability. However, it is unclear whether… Continue reading China Fines For Foreign Automakers Raise Regulatory Risks
After Three Years In China: What Are Tesla’s Hits And Misses?
After opening its first showroom in Beijing in November 2013, Tesla has been expanding in the Chinese market for three years. Its Model S and Model X are regularly seen on the streets of Beijing and Shanghai, and Tesla Supercharger stations have dotted major cities in the country. Despite falling way short of company chief… Continue reading After Three Years In China: What Are Tesla’s Hits And Misses?