Strategy – Page 7304 – I wish I had more to offer

FAURECIA : STRONG PERFORMANCE IN THE FIRST HALF OF THE YEAR, WHILE BUILDING MOMENTUM ON STRATEGIC PRIORITIES, UPGRADED GUIDANCE FOR THE FULL YEAR

FAURECIA TAKES MAJORITY SHARE IN CHINESE INFOTAINMENT LEADER JIANGXI COAGENT ELECTRONICS

Nanterre (France), July 19, 2017Faurecia takes majority share in chinese infotainment leader jiangxi coagent ELECTRONICSNanterre, France, July 19 2017 – Faurecia, one of the world’s leading automotive suppliers, announced today that it had taken a majority share in the Chinese company Jiangxi Coagent Electronics for a total investment of 1.45 billion RMB (193 million euros).Jiangxi Coagent… Continue reading FAURECIA TAKES MAJORITY SHARE IN CHINESE INFOTAINMENT LEADER JIANGXI COAGENT ELECTRONICS

Ofo Sets New Fundraising Record After Collecting $700 Million In New Round

What do you do when your closest rival raises a record financing round? Complete a larger fundraising and set a new record, of course. That’s what Beijing-based bike sharing company ofo Inc. just did. A few weeks after competitor Mobike raised US$600 million, ofo announced today that it has raised more than US$700 million led… Continue reading Ofo Sets New Fundraising Record After Collecting $700 Million In New Round

Mobike Starts Selling Raincoats In First Attempt To Monetize Via E-Commerce

Shanghai-based bike sharing company Mobike has begin a trial to monetize its vast network of five million bikes around 100 cities globally by selling raincoats at RMB268 (US$39.5) apiece, in its first major attempt to make money outside of charging users for rides. The company, which has raised nearly US$1 billion this year at a… Continue reading Mobike Starts Selling Raincoats In First Attempt To Monetize Via E-Commerce

Panasonic Completes Acquisition of Additional Shares of Ficosa,a Global Tier 1 Automotive Parts & Systems Supplier

Osaka/Barcelona – Panasonic Corporation (Head office: Kadoma City, Osaka, President: Kazuhiro Tsuga; hereinafter, Panasonic) announced today that it has completed its previously announced acquisition of additional shares in Ficosa International, S.A. (Head office: Barcelona City, Spain, CEO: Javier Pujol; hereinafter, Ficosa), which is a global tier 1 supplier of automotive parts and systems, after the… Continue reading Panasonic Completes Acquisition of Additional Shares of Ficosa,a Global Tier 1 Automotive Parts & Systems Supplier

Hellobike Raises Series B+ Round From EV Start-Up WM Motor

WM Motor, an electric vehicle start-up founded by the former China head of Volvo Car Corporation, has made a strategic investment in Hellobike, a bike-sharing start-up focused on mid-size cities across China. Hellobike, which two months ago raised hundreds of millions of RMB in a series B round led Chengwei Capital, and is also backed… Continue reading Hellobike Raises Series B+ Round From EV Start-Up WM Motor

Chinese Bike Sharing Firm Mobike Rumored To Acquire Smaller Peer UniBike

Mobike is in the process of acquiring a smaller peer, Xiamen city-based UniBike, for an undisclosed amount of money; the first merger deal in China’s red-hot bike sharing industry, according to local media reports citing insiders. In response to China Money Network’s inquiry, Mobike representative Chen Qian said the information is not accurate, but refused… Continue reading Chinese Bike Sharing Firm Mobike Rumored To Acquire Smaller Peer UniBike

BAIC’s Electric Vehicle Unit Raises $1.6B In Series B Round

Chinese car maker Beijing Automotive Group’s (BAIC Group) electric vehicle business unit, BAIC BJEV, has raised a RMB11.1 billion (US$1.6 billion) series B round from 14 investors, including state-owned enterprises China Cinda Asset Management Co., Ltd. and Zhongji Investment, a firm co-founded by the Hebei provincial government. The round values BJEV at RMB28 billion (US$4.2… Continue reading BAIC’s Electric Vehicle Unit Raises $1.6B In Series B Round

China Harmony New Energy Auto’s After-Sales Unit Raises $41M

Hong Kong-listed China Harmony New Energy Auto Holding Ltd. has completed a spin-off of an after-sales unit, which has reached agreements to received RMB280 million (US$41 million) from a few strategic investors, according to a disclosure filing. Automobile industry-focused investment firm Leaguer Auto and Aotuo Investment have agreed to invest in Independent Aftersales Company, an… Continue reading China Harmony New Energy Auto’s After-Sales Unit Raises $41M

Tencent Partners With Guangzhou Automobile Group To Break Into Automotive Industry

Tencent Holdings Ltd. has signed a strategic partnership agreement with Guangzhou Automobile Group Co., Ltd. to discuss possible cooperation in automobile e-commerce, automobile insurance and new energy vehicles, according to a statement issued by Guangzhou Automobile Group. The agreement with Guangzhou Automobile Group, whose shares traded on Hong Kong and Shanghai stock exchanges soared on… Continue reading Tencent Partners With Guangzhou Automobile Group To Break Into Automotive Industry