Over 75% of China’s netizens have ordered food online or via mobile apps, up from 35% two years ago, says a new research report by Tencent Holdings Ltd. In comparison, the penetration rate for online food delivery in the U.S. is at around 5%, according to a recent Morgan Stanley research report. The convenience of… Continue reading China’s Online Food Ordering Market Matures With 75% Penetration Rate
Tag: People
Baidu Rumored To Make $100M Investment In Chinese EV Start-Up NextEV
Chinese Internet firm Baidu Inc. is rumored to plan to invest US$100 million in NextEV, a Chinese smart electric vehicle start-up backed by top global investors including Singapore’s Temasek Holdings, private equity giant TPG and Sequoia Capital. Baidu is to participate in NextEV’s series C financing round, according to Chinese media reports citing insiders. Some… Continue reading Baidu Rumored To Make $100M Investment In Chinese EV Start-Up NextEV
Temasek Leads New Funding Round In Chinese Start-Up NextEV
NextEV has reportedly raised an undisclosed funding round led by Singapore’s Temasek Holdings, with participation from global private equity giant TPG, Chinese investment firm Hopu Investment Management and China’s Lenovo Group, according to Chinese media reports. The round is around several hundreds of millions U.S. dollars, says the reports citing confirmation by the company’s president… Continue reading Temasek Leads New Funding Round In Chinese Start-Up NextEV
Swedish Minister Says Chinese Investors Welcome In Home Of Nobel Prize
Sweden may not be the most populous of nations, with just 9.8 million people. But the country that brought us the the Nobel Prize for science has given birth to a disproportionately high number of tech giants. Skype, the Internet calling service bought by Mcirosoft, digital music service Spotify, popular mobile game Candy Crush and… Continue reading Swedish Minister Says Chinese Investors Welcome In Home Of Nobel Prize
Sequoia, Joy Capital Joins $500M Round In NextEV
Shanghai-based Chinese electric vehicle maker NextEV has reportedly raised US$500 million from Sequoia Capital, Joy Capital and unnamed investors. Chinese media reports say the company plans to produce a more economical and environmentally friendly electric vehicle to rival Tesla in the U.S. China Money Network cannot verify the news and the financing deal value. Founded… Continue reading Sequoia, Joy Capital Joins $500M Round In NextEV
Tencent-Backed EV Start-Up Future Mobility Eyes $1.7B Nanjing Plant
Future Mobility Corporation, a Chinese electric car start-up backed by Tencent Holdings Ltd. and Foxconn Technology Group, announced plans yesterday to invest RMB11.6 billion (US$1.7 billion) to build a new factory in Nanjing to manufacture its self-developed electric vehicles. The planned project is expected to have the capacity to produce 300,000 cars a year eventually,… Continue reading Tencent-Backed EV Start-Up Future Mobility Eyes $1.7B Nanjing Plant
China Dynamics, Tak Cheung Yam Join Series A Round In Rimac Automobili
Croatian high-performance electric vehicle developer Rimac Automobili says it has completed €10 million (US$12.3 million) series A financing from three investors including Hong Kong-listed Chinese electric vehicle and battery maker China Dynamics (Holdings) Limited, according to a company announcement. The other two investors are the CEO and chairman of oil and gas company Petrotesting Colombia,… Continue reading China Dynamics, Tak Cheung Yam Join Series A Round In Rimac Automobili
Chinese Bike Firm Ofo Hires Former Uber Product Chief Michelle Chen As CPO
Beijing-based bike sharing company ofo has hired Michelle Chen (pictured), former head of product at Uber China, as chief project officer to handle the company’s product design and data research. She will report directly to the company’s founder and CEO, Dai Wei. Chen joined Uber Technologies Inc. in 2015, and was responsible for the U.S.… Continue reading Chinese Bike Firm Ofo Hires Former Uber Product Chief Michelle Chen As CPO
Five Chinese Electric Vehicle Start-Ups That Could Rival Tesla
Across China’s 9.6 million square kilometers of land, there was never a shortage of ambition. So too with the electric vehicle revolution. Despite being a late comer to the EV craze, the country’s start-ups are not shy about aiming high. At least half-a-dozen Chinese EV start-ups – not including traditional car makers going green –… Continue reading Five Chinese Electric Vehicle Start-Ups That Could Rival Tesla
China’s Geely To Acquire US Flying Car Company Terrafugia
Chinese automotive manufacturer Zhejiang Geely Holding Group, the parent company of Volvo Cars, has agreed to acquire the operations and assets of Terrafugia Inc., a U.S.-based firm developing flying cars. No financial details were disclosed in an announcement released by Terrafugia yesterday. The company said the deal has received approval from all relevant regulators including… Continue reading China’s Geely To Acquire US Flying Car Company Terrafugia