Tag: Didi

Chinese regulators want Didi to delist from US on data security fears: report

Chinese regulators have asked top executives of ride hailing giant Didi Global Inc to devise a plan to delist from US bourses on data security fears, Bloomberg News reported. China’s tech watchdog wants the management to take the company off the New York Stock Exchange on concerns about leakage of sensitive data, the report said, citing people… Continue reading Chinese regulators want Didi to delist from US on data security fears: report

Voyager Global Mobility Acquires Fast Track Mobility

Both VGM and Fast Track provide vehicles to Uber and Lyft drivers.  Voyager Global Mobility announced its acquisition of Fast Track Mobility on Nov. 8, increasing the company’s for-hire-vehicle operational footprint in New York City. The transaction was arranged by EA Markets with preferred equity from Prudential Private Capital, the private capital arm of PGIM Inc.,… Continue reading Voyager Global Mobility Acquires Fast Track Mobility

Technology · November 4, 2021 · 11:02 PM UTCUber makes first operating profit as driver shortage easesUber Technologies Inc on Thursday reported its f…

A screen displays the company logo of Uber Technologies Inc on the day of its IPO at the New York Stock Exchange (NYSE) in New York, U.S., May 10, 2019. REUTERS/Brendan McDermid Nov 4 (Reuters) – Uber Technologies Inc (UBER.N) on Thursday reported its first profitable quarter on an adjusted basis since it launched more… Continue reading Technology · November 4, 2021 · 11:02 PM UTCUber makes first operating profit as driver shortage easesUber Technologies Inc on Thursday reported its f…

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…

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…

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

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