Chinese ride sharing giant Didi Chuxing is rumored to be acquiring bike sharing firm Ofo for around US$2 billion, said a Chinese media report citing a leaked document. Embattled Ofo has been reportedly in deal talks with different parties for the past many months. Speculation of Ofo’s sale to a bigger company intensified after Meituan… Continue reading Didi Rumored To Acquire Bike Sharing Firm Ofo For $2 Billion
Tag: Mobility
Geely Sets Up JV With German Air Taxis Start-Up After Leading Its $55M Series C1 Round
Chinese automotive company Zhejiang Geely Holding Group has led the first closing of a series C round of financing worth €50 million (US$55.16 million) in German aircraft manufacturer Volocopter, which will help the start-up realize commercial launch within the next three years. The investment took the total capital raised by Volocopter to €85 million (US$93.77… Continue reading Geely Sets Up JV With German Air Taxis Start-Up After Leading Its $55M Series C1 Round
Geely Files $293M Lawsuit Against Chinese EV Start-Up WM Motor
Chinese automotive company Geely has sued four companies affiliated with WM Motor, a Shanghai-based electric vehicle maker backed by Baidu, for “infringement of trade secrets,” and demanded as much as RMB2.1 billion (US$293.43 million) for compensation. The lawsuit, which was filed last year, is set to hold a hearing on September 17, 2019, according to… Continue reading Geely Files $293M Lawsuit Against Chinese EV Start-Up WM Motor
Xpeng Brings In Xiaomi As Strategic Investor In $400M Series C Round
Xpeng Motors showcased the P7, its first four-door coupe model with Level 3-ready autonomous driving capabilities at Alibaba Cloud’s APSARA Computing Conference in Hangzhou in September 2019. (Image credit: Xpeng Motors) This article by Chris Udemans originally appeared on TechNode, the leading English authority on technology in China. Xpeng Motors has brought onboard smartphone maker… Continue reading Xpeng Brings In Xiaomi As Strategic Investor In $400M Series C Round
Embattled Electric Carmaker Faraday Future Hails New CEO From BMW’s i8 Team
Faraday Future (FF), an embattled electric car start-up based in California, announced on late Tuesday the appointment of Carsten Breitfeld as Global CEO, while Jia Yueting, FF’s founder, will step down from the CEO position to assume the role of chief product & user officer (CPUO). Breitfeld, an auto industry veteran specialized in electric mobility,… Continue reading Embattled Electric Carmaker Faraday Future Hails New CEO From BMW’s i8 Team
Chinese EV Start-Up Byton To Close $500M In Series C Round Against Headwinds
Chinese electric vehicle start-up Byton showed off the final production version of its SUV model, “M-Byte SUV,” at the 2019 Frankfurt Motor Show on September 10, 2019. Chinese all-electric vehicle brand Byton is raising a series C round of financing at US$500 million from Chinese state-owned automotive manufacturer FAW Group and government-led industry investment funds… Continue reading Chinese EV Start-Up Byton To Close $500M In Series C Round Against Headwinds
Chinese Electric Vehicle Start-Up Eyes To Net $600M Fresh Funds Amid Subsidy Cuts
Xpeng Motors, a Chinese electric vehicle (EV) start-up backed by Alibaba Group, is seeking to complete a new funding round at a “comparable amount” to the previous round that was about US$600 million, the company’s president Brain Gu Hongdi told American business news media CNBC. “Last year, we raised in a B plus round, raised… Continue reading Chinese Electric Vehicle Start-Up Eyes To Net $600M Fresh Funds Amid Subsidy Cuts
99 launches face recognition for 100% of drivers
Technology’s goal is to further enhance the safety of the app’s passengers and drivers 99, the urban transport application that integrates the global company DiDi Chuxing, launched on October 13, 100% of drivers, a facial recognition tool to further enhance the safety of platform races. The system automatically identifies drivers’ faces before they connect to… Continue reading 99 launches face recognition for 100% of drivers
Passengers in Lyft and Aptiv’s self-driving cars have given their rides an average rating of 4.97 out of 5. A Lyft VP gives 3 reasons why. (LYFT)
Lyft has received enthusiastic feedback from the 75,000 rides it has given in Las Vegas using self-driving cars run by Aptiv‘s technology. Those passengers have given their rides an average rating of 4.97 points out of five, Taggart Matthiesen, Lyft‘s vice president of product for autonomous technology, told Business Insider in October. Matthiesen said he… Continue reading Passengers in Lyft and Aptiv’s self-driving cars have given their rides an average rating of 4.97 out of 5. A Lyft VP gives 3 reasons why. (LYFT)
November 22, 2019 Via Launches First Service in Salt Lake with Utah Transit Authority UTA On-Demand provides access to on-demand shared ride…
November 22, 2019 Via Launches First Service in Salt Lake with Utah Transit Authority UTA On-Demand provides access to on-demand shared rides in Salt Lake County November 23, 2019 (SALT LAKE CITY)– Via, the leader in public mobility, announces the launch of its first service in Utah in partnership with Utah Transit Authority (UTA). UTA… Continue reading November 22, 2019 Via Launches First Service in Salt Lake with Utah Transit Authority UTA On-Demand provides access to on-demand shared ride…