SHANGHAI/HONG KONG, Oct 18 (Reuters) – At the Shanghai Auto Show in April, the booth for China Evergrande Group’s new energy vehicle (NEV) unit (0708.HK), (3333.HK) was hard to miss. One of the largest exhibitions at the event, in a prime spot opposite BMW (BMWG.DE), the property developer-backed unit showed off nine concept vehicle models… Continue reading Disrupted · 7:37 AM UTCBefore debt woes, China Evergrande’s ambitious car making goals stunned industryAt the Shanghai Auto Show in April, the booth f…
Tag: Didi
Chinese ride-hailer T3 reportedly raises $775 million while Didi mired in cybersecurity review
Chinese ride-hailing platform T3 is close to securing RMB 5 billion ($775 million) in a funding rounding led by state-owned financial conglomerate Citic Group, Chinese media LatePost (in Chinese) reported Thursday, citing three unnamed sources. Why it matters: Didi’s rivals, especially those funded by state-owned enterprises, have received a new wave of investment since the… Continue reading Chinese ride-hailer T3 reportedly raises $775 million while Didi mired in cybersecurity review
China Roundup: Didi-backed e-grocery firm trims operations, and other news
Also, a Chinese government official pulls up “non-innovative” medtech firms raking in money from VCs. Go to Source
Geely’s ride-hailing unit Cao Cao Mobility raises $589M Series B to upgrade tech and expand fleet
Cao Cao Mobility, the ride-hailing unit of Chinese automaker Geely Automobile Holdings, has announced a $589 million (RMB 3.8 billion) Series B raise that the company says will help it upgrade its technology and expand its fleet, according to a statement released by the company (in Chinese). The raise, which Cao Cao announced on Monday,… Continue reading Geely’s ride-hailing unit Cao Cao Mobility raises $589M Series B to upgrade tech and expand fleet
Didi’s ride-hailing rival Cao Cao Mobility raises $600m to fund expansion
Geely’s Cao Cao Mobility said on Monday that it had raised 3.8 billion yuan ($589 million) to fund expansion, amid competition to grab market share from China’s embattled ride-hailing leader Didi Global Inc. Cao Cao‘s funding round comes as New York-listed Didi faces a cybersecurity investigation by Chinese authorities. Along with other ride-hailing companies, including Meituan’s, Cao Cao is offering promotions to… Continue reading Didi’s ride-hailing rival Cao Cao Mobility raises $600m to fund expansion
Autos & TransportationChinese automaker Geely hires former Bentley design chief9:14 AM UTC
A building of the Geely Auto Research Institute is seen in Ningbo, Zhejiang province, China, Aug. 4, 2017. REUTERS/Aly Song/File Photo BEIJING, Sept 6 (Reuters) – Chinese automaker Geely (GEELY.UL) has hired Stefan Sielaff, the former design chief of British luxury brand Bentley, as China’s manufacturers increasingly turn to new styles to boost sales in… Continue reading Autos & TransportationChinese automaker Geely hires former Bentley design chief9:14 AM UTC
China ride-hailer Caocao Chuxing receives billions of yuan in funding
BEIJING — Caocao Chuxing, the ride-hailing arm of automaker Geely, took in billions of yuan (a nine-figure dollar amount) in a recent funding deal, a source told 36Kr. The investment is China’s first domestic equity deal in the ride-hailing industry this year. Hangzhou Youxing Technology, which operates Caocao Chuxing, adjusted its share structure on Aug.… Continue reading China ride-hailer Caocao Chuxing receives billions of yuan in funding
Didi denies reports that Beijing city is coordinating firms to invest in it
China’s ride hailing giant Didi Global Inc said on Saturday that media reports that the Beijing city government is coordinating companies to invest in it are not correct. “Didi is currently actively and fully cooperating with cybersecurity probe, foreign media reports that Beijing city government is coordinating companies to invest in it are incorrect,” it said on Weibo. Bloomberg News reported on Friday, citing unidentified people familiar with the matter, that China’s capital city was considering taking Didi under state control and… Continue reading Didi denies reports that Beijing city is coordinating firms to invest in it
If You Shorted Alibaba, Nio, Wish, New Oriental And TAL Education In June, Here’s How Much You’d Have Now
Long investors who own Chinese e-commerce, tech and education stock in their portfolios have had their guts checked, hearts ripped out and their peace of mind called into question time and time again in 2021. For the uninitiated, share prices of several Chinese companies have suffered marked weakness in 2021 caused by regulatory concerns and… Continue reading If You Shorted Alibaba, Nio, Wish, New Oriental And TAL Education In June, Here’s How Much You’d Have Now
Beijing city looks to bring ride-hailing firm Didi under state control: Report
Beijing city is considering taking Didi Global under state control and has proposed that government-run firms invest in the Chinese ride-hailing company, Bloomberg News reported. The central thrust of the Beijing city government’s proposal is to regain control over one of its largest corporations, and particularly the data it holds, Friday’s Bloomberg report said. Under the preliminary… Continue reading Beijing city looks to bring ride-hailing firm Didi under state control: Report