Source Code Capital has joined a RMB150 million (US$22.5 million) series C round of financing in automobile after-sales O2O (online-to-offline) service provider, eBaoyang, Chinese media reported. The round is led by Yihao Capital, an entity that currently lacks any available identifiable public information. Founded in 2014, eBaoyang completed a US$20 million series B financing led… Continue reading Source Code Capital Joins $22.5M Series C Round In Auto O2O Player eBaoyang
Category: Automotive
China’s Leo Group Joins $121M Capital Injection In Electric Vehicle Start-Up
Shenzhen-listed mini-pumps and garden machines maker Leo Group Co., Ltd. has agreed to join seven other investors to inject RMB780 million (US$121 million) in a smart electric vehicle start-up established by Li Xiang, the founder of New York-listed Autohome Inc. In a securities filing (in Chinese), Leo Group says it will invest RMB350 million to… Continue reading China’s Leo Group Joins $121M Capital Injection In Electric Vehicle Start-Up
Zhongding To Invest $200M In EcoMotors
Allen Park, Michigan-based next generation internal combustion engine maker EcoMotors has secured an undisclosed series D round of financing led by Chinese auto parts maker Anhui Zhongding Holding (Group) Co., Ltd., says a company announcement. Even though the total amount of EcoMotors’ funding round is not disclosed, the company says that Zhongding has agreed to… Continue reading Zhongding To Invest $200M In EcoMotors
EV Charging Station Firm Chargerlink Secures $20M Venture Funding
Chargerlink, a Shenzhen-based start-up focused on providing charging station solutions for the electric vehicles (EV) sector, has secured US$20 million series A round, the largest venture funding in the EV services market in China. According to Chinese media reports, four Chinese investors participated in the round, which will be used to expand the company’s business.… Continue reading EV Charging Station Firm Chargerlink Secures $20M Venture Funding
AVIC Acquires Henniges Automotive From Littlejohn
Chinese state-owned aerospace and defense company Aviation Industry Corporation of China (AVIC) has acquired automobile parts maker Henniges Automotive Holdings, Inc. from U.S. private equity firm, Littlejohn & Co. Financial details are not disclosed, but a company announcement says the deal is one of the largest acquisitions by a Chinese company of a U.S.-based automotive… Continue reading AVIC Acquires Henniges Automotive From Littlejohn
Chinese Phone Maker OPPO Co-Leads $22M Round In EV Sharing Firm Ponycar
Chinese smartphone maker OPPO Electronics Corp. and investment firm Huiyou Capital have led a RMB150 million (US$22 million) funding round in Ponycar, a Shenzhen-based electric vehicle sharing start-up, with participation from Shenzhen-based investment bank China Peakedness. Founded in 2016, Ponycar provides hourly electric vehicle rental services allowing customers to use a mobile app to find… Continue reading Chinese Phone Maker OPPO Co-Leads $22M Round In EV Sharing Firm Ponycar
China Plans Ambitious Expansion Of EV Charging Pole Network
Forty-eight major Chinese cities are planning ambitious expansion plans to increase the total number of electric vehicle charging stations to 1,549, and the number of charging poles to 238,559 by 2015. That compare with a total of 307 charging stations and 16,947 charging poles in these 48 cities as of October 2013, according to Chinese… Continue reading China Plans Ambitious Expansion Of EV Charging Pole Network
Galaxy Capital Leads $18M Series B Round In YouChe
Beijing-based online used car trading platform YouChe has completed US$18 million series B financing led by Galaxy Capital, according to Chinese media reports. Existing investors IDG Capital Partners and Zhen Fund also participated in the round. Founded in December 2013, YouChe previously received several million RMB angel investment from Zhen Fund in December 2014. In… Continue reading Galaxy Capital Leads $18M Series B Round In YouChe
China Eyes Two Million New Energy Vehicles In Annual Production By 2020
China aims to achieve annual production and sales of two million new energy vehicles by 2020, as the country ramps up efforts to expand its green energy sector and reduce dangerous levels of air pollution in its major cities. New energy cars are defined as vehicles powered by alternative sources of energy. They include hybrid,… Continue reading China Eyes Two Million New Energy Vehicles In Annual Production By 2020
Mobike To Expand Bike Rental Services To Japan
Leading Chinese bike-sharing company Mobike says it has established a Japanese subsidiary, Mobike Japan Ltd., in Fukuoka city, with plans to begin services in that city later this year. The move comes after the company expanded into Singapore in March and announced plans to launch services in the U.K. later this month. “Mobike is very… Continue reading Mobike To Expand Bike Rental Services To Japan